The Nifty saw a very volatile session mainly due to selling pressure in banks & financials. Bank Nifty fell over 650 points before closing down 350 points as markets saw short covering bounce in the last hour of trade.
IT, energy & metal stocks saw the index recover while banks were the big drag as HDFC, Kotak & ICICI saw selling pressure.
For today, expect another volatile session as foreign buying did see tapering off & local funds are still in full sell mode.
US Market: US markets see volatility creep in as intra day Dow Jones sees over 300 points moves as markets buy the dips on expectations of early stimulus.
Dow Jones closes higher by 50 points after being down 225 in early trade while Nasdaq closes flat after being down over 1%.
Bond yields rally further to 0.94% as hgiher cost of money sees risk on trade play out in all asset classes.
Asian Market: Asian markets opened muted with the Japanese Nikkei trading down 40 points in early trade while the South Korean Kospi continues to hit fresh new highs in early trade.
Chinese stocks will be in action as new elect President Biden indicates no change in tariffs levied by the Trump administration for now.