InvestorQ : Can you share with me your stock market outlook for 03 December 2020? Where do you see the market action?
Arusha Ray made post

Can you share with me your stock market outlook for 03 December 2020? Where do you see the market action?

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diksha shah answered.
1 month ago
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The Nifty index held above 13,100 levels on Wednesday but the eventual movement was positive to the extent of just about 4 points. Interestingly, the A/D ratio was very strong at 36:13, indicating that the rally is now getting more broad-based than being focused.

On Wednesday, there was an unlikely star. Private Banks saw profit booking after a sharp rally but PSU stocks like ONGC and GAIL saw buying interest on hopes of value explosion in many of these stocks as well as attractive dividend yields. These PSUs were the stars.

Foreign investment flows were relatively tepid on Wednesday as FPIs were net buyers of just Rs.357 crore while DFIs sold Rs.1636 crore. There could be some caution building up ahead of the monetary policy that on Friday, especially on the stance outlook.

The two principal US indices; Dow and NASDAQ have been lacklustre on Wednesday but FTSE was sharply up by over 1.5%. Asia and Europe have stayed tepid. The SGX Nifty is marginally up in early trades but wait for Asian cues and for monetary policy cues.

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