Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic markets were witnessing a volatile trading session on Thursday.
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Dalal Street benchmark indices were moving between gains and losses on Thursday. S&P BSE Sensex was trading flat with poistive bias at 57,830 entering the afternoon trade. NSE Nifty 50 index was holding above 17,200. Bank Nifty was down 0.4% at 36,640, broader markets traded weak. India VIX was down nearly 5%, giving uo 17 levels. Bajaj Finance was the top Sensex gainer, up 2.4%, followed by Infosys. Mahindra & Mahindra, and Titan. Down in the red was Maruti Suzuki India, accompanied by Sun Pharma, IndusInd Bank, and Bajaj Auto.
The US Federal Reserve on Wednesday announced that it will end its bond-buying program in March of next year as it gears up to fight inflation. The US Fed officials expect three interest rate hikes in the coming year, bringing the pandemic-era low-interest-rate period to a close. Central banks across the globe have kept interest rates to near zero since the pandemic began in March 2020. The US Federal Reserve was not expected to stop the bond-buying program this early. Wall Street reacted positively to the Fed’s comments with the Dow Jones gaining 1.08% while S&P 500 closed 1.63% higher. NASDAQ zoomed 2.15%.
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Buy these two stocks for medium-term gains while Nifty remains in downtrend
Over the last few weeks, the Nifty has been in correction mode. The downtrend was confirmed when the support of 17613 was broken. On the daily chart, we see that Nifty remains in a downtrend despite the bounces seen recently. The index continues to make lower tops and lower bottoms for the last few weeks, barring the recent brief move above the swing high of 17490. The 20 day SMA also continues to trade below the 50 day SMA, indicating a negative moving average crossover. Weekly momentum readings like the 14-week RSI are in decline mode.
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Read More: Share Market LIVE: Sensex trades flat, Nifty gives up 17200, support in 17100-17150