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Morning Comments (HDFCSec Retail Research)
U.S. stocks closed mostly higher on Monday, with the S&P 500 and Nasdaq hitting record highs, driven by tech stocks.
Investors awaited key economic data, including the jobs report on Friday, and considered comments from Fed Governor Christopher Waller about potential rate cuts in December. U.S. manufacturing data showed moderate contraction in November, with a rise in orders and lower input prices.
Asian markets broadly followed Wall Street’s gains, though China lagged due to a weaker yuan and economic concerns.
In India, the Nifty gained 0.60% on Dec 2, closing at 24,276. A break above 24,350 could signal a trend reversal, with targets at 24,700-24,900. Immediate support is at 24,100.
Indian markets may open flat to slightly higher today, in line with global trends. |
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