The Indian Stock Markets on Wednesday managed to hold onto positive territory. Nifty managed to hold its important psychological level of 8000 for the second consecutive session owing to impressive performance by Lupin and Hindalco. The broader markets outperformed the benchmark indices, rising more than 1.2 per cent owing to value buying. The Nifty ended higher by 31 points at 8033; and Sensex was 91 points up at 26051.81. European markets closed flat to negative on November 24. DAX ended the session with losses of 0.48 per cent followed by CAC 40 and FTSE 100. U.S. stocks ended mostly higher on Wednesday, with the Down Jones industrial average and the S&P again settling at new all-time closing highs after string results from farm equipment make, Deere. However, technology stocks slipped after HP released a weak profit forecast. The Dow Jones industrial average climbed about 59 points, or 0.3 per cent to 19,083.18. The S&P 500 index inched up 0.08% to 2,204.7. The Nasdaq lost 0.11 to 5,380.6. Asian markets on November 24 are trading cautiously with Japanese stocks rising to a near 11-month high on a weaker yen and after Wall Street shares closed at record highs overnight. On the other hand, Hang Seng and Shangai composite are trading in negative territory in the range of 0.52 to 0.11 per cent SGX Nifty is trading in negative territory with losses of 0.60 per cent to the levels of 7961. Markets are expected to open in red with volatility expected owing to derivate expiry for November series.
India : Markets to open in red and remain volatile due to F&O expiry
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Rajesh Sharma is Correspondent for Stock Market of South East Asia based in Mumbai. He has been covering Asian markets for more than 5 years.