Today The Intraday market has kick-started the week on a
strong note. The Sensex is up 189.46 points or at 20588.88, and the Nifty is up
58.15 points at 6114.30. About 321 shares have advanced, 68 shares declined,
and 14 shares are unchanged.
The Indian rupee breached the 63-mark in early trade on
Monday to open at 62.85 per dollar, up 26 paise from Thursday's closing of
63.11 per dollar.
In commodities, crude prices rose moderately in choppy
trading on Friday, supported by Libyan supply outages and supportive comments
from the fed chair nominee.
From the precious metals space, gold snapped a three-day winning streak on Monday but prices continued to hold near the USD 1300 level amid hopes the US Federal Reserve would stick to its easy monetary policy, burnishing the metal's appeal as a hedge against inflation.
With the Intraday market nervously wondering whether the Federal Reserve will start to reduce their quantitative easing program, a few critical clues could come this week. In the market, there is too much emphasis based on the lack of a potential for imminent tapering. All eyes are on the Fed's December 18th statement, which will be followed by a press conference. Just a week before Christmas, the Fed could finally make the long-awaited (and long-feared) announcement that they will reduce the pace of their $85 billion-per-month bond buying program.
From the precious metals space, gold snapped a three-day winning streak on Monday but prices continued to hold near the USD 1300 level amid hopes the US Federal Reserve would stick to its easy monetary policy, burnishing the metal's appeal as a hedge against inflation.
With the Intraday market nervously wondering whether the Federal Reserve will start to reduce their quantitative easing program, a few critical clues could come this week. In the market, there is too much emphasis based on the lack of a potential for imminent tapering. All eyes are on the Fed's December 18th statement, which will be followed by a press conference. Just a week before Christmas, the Fed could finally make the long-awaited (and long-feared) announcement that they will reduce the pace of their $85 billion-per-month bond buying program.
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