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Asian stocks rose on Friday, with the late Wall Street plunge as oil prices rose on the expectation of a larger US stimulus under the US election while oil prices spiked on Chinese price data.
President-Elect Biden unveiled a $ 1.9 trillion stimulus package proposal designed to kickstart the economy and speed up the U.S. response to the coronovirus epidemic, officials said on Thursday.
The bank Nifty opened flat and consolidated for most part of the session. It saw some recovery from lower levels in the final hour of trading, but the day was fixed with a slight loss of around 50 points. The index surpassed the previous high of 32,683 points to an all-time high of 32,718. This constituted the Doji candle on a daily scale, indicating a war in the new high zone. Now, the index is above the 32,200 level to bounce towards 32,750 and 33,00.
Nifty futures closed at 14,633 with a slight gain of 0.19%. Cadila, BPCL, MRF, Lupine, HPCL NSE 2.84%, TCS NSE 2.90%, IOC, Dabur NSE 2.40%, Siemens, Voltas, Godrej Consumers, ITC, Amara Raja Battery and weak in HUL but weak in cell. Vedanta NSE-22.7%, Jubilant Foodworks, Titan, Hindalco and Bajaj Finance.
