Stock Markets Recap Week Of 15th Dec 2023

Summary :

The stock market has been performing exceptionally well lately, with the index rising over 13% in just 7 weeks. Last week, the index was up by 2.32%, thanks to the falling bond yield, crude price, and sliding dollar, which have led to a rise in FII inflow. This month, FII has done buying worth 29,700 crore, while DII stood at 3200 crore. Nifty has been chasing an all-time high level for the past 10 consecutive sessions, with its new support zone shifting to 21000 to 20800 level. Sustainability above this range will be considered as a bullish zone in the short term. The IT, PSU, and Metal stocks have been performing well this week, while Consumer durable and pharma stocks have been lagging. In the coming week, a bullish continuation movement is expected in IT and Metal stocks

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