look news india
Share Market Prediction: The third week of December is going to be very important for the Indian stock market. During this period, investors will keep an eye on US Fed interest rates, FII (foreign institutional investors) data, US bond yields, domestic and global data, Russia and Ukraine war and crude oil prices.
After the earlier big fall in the stock market, a spectacular change was seen in Friday’s trading session. Telecom, tech, consumer durables and IT stocks witnessed tremendous growth. Master Trust Group Director Punit Singhania said that there was a lot of volatility in the market on Friday.
Meanwhile, Nifty closed at 24,768, up over 550 points after falling as low as 24,200. The reason for this recovery was the purchase of those shares which were facing the brunt of inflation along with the core sector. On a weekly basis, Nifty closed 0.37 percent higher at 24,768 and Sensex closed 0.52 percent higher at 82,133.
This was the fourth consecutive week when the Indian stock market closed with gains. “The fall from lower levels shows that the buy-on-dip strategy is working,” said Vinod Nair, head of research at Geojit Financial Services. “The gradual recovery in the core sector suggests that earnings will be better than the second half.” “First half of FY25.”
It is believed that selling of foreign funds has reduced in the short to medium term, which has improved sentiment. We expect the buying strategy to continue at lower levels in the coming weeks. Pravesh Gaur, senior technical analyst at Swastik InvestSmart, said, Nifty has overcome all the hurdles. 24,500, 24,300 and 24,125 are important support zones on the downside. While 25,000 will be a significant hurdle in the uptrend.