Markets week ahead: Covid-19 vaccine, macro data hold key
Market continued to hit fresh record highs in the week gone by on the back of positive global cues. Benchmark indices gained 2% each crossing major milestones in the sixth consecutive weekly gain.
BSE Sensex crossed 46,000 for the first time adding 1,019.46 points in the past week, while Nifty gained 255.35 points to end at 13,513.90.
Market will react to the macroeconomic data viz. IIP and CPI inflation in early trade on December 14.
Investors will keep an eye on the progress on the vaccine developments in India and Worldwide.
The US Food and Drug Administration (FDA) on December 11 approved the Pfizer-BioNTech COVID-19 vaccine for emergency use, and a rollout could begin within days. This is the first COVID-19 vaccine candidate that has been given emergency use authorisation in the Unites States, the country most affected by the pandemic.
The developments in corona vaccine and decreasing trend of the infections supported the market last week.
Global stock indexes eased and the dollar rose on Friday amid continued concerns over the timing of more US economic stimulus.
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