Nifty Ends Flat Despite UK Vaccine Rollout Announcement; US Futures Down

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Nifty Ends Flat Despite UK Vaccine Rollout Announcement; US Futures Down

Nifty and BSE Sensex veered away from the script they have been following for the last month and a half where any positive news about a vaccine brought cheer to the markets. The U.K. approved the Pfizer (NYSE: PFE ) Ltd . (NS: PFIZ )-BioNTech vaccine and reports say it will be ready for use as early as next week but Nifty ended up 4.7 points and Sensex ended lower 37 points.

Bank Nifty fell by 1.19%. It was the index that lost the most while Nifty Metal and Nifty Auto indices gained 2.56% and 1.19% respectively. Kotak Mahindra (NS: KTKM ) Bank Ltd. (BO: KTKM ) lost 3.35%, HDFC Bank Ltd (NS: HDBK ) lost 1.95% and Bandhan Bank Ltd (NS: BANH ), down 1.38% rounded off the top three losers on Bank Nifty.

MOIL Ltd (NS: MOIL ) and Hindustan Copper Ltd (NS: HCPR ) both gained over 6% on the metals index while Bajaj Auto Ltd (NS: BAJA ) and Mahindra & Mahindra Ltd. (NS: MAHM ) both gained over 2% on the auto index.

U.S. stocks are seen opening slightly lower Wednesday, pausing for breath after recent strong gains, although talk of new fiscal stimulus continued to support the overall market.  

Oil prices were mixed Wednesday, amid growing uncertainty after OPEC and its allies postponed to Thursday a decision over the level of next year’s supply, raising concerns that pressure is growing within the group to raise output despite the current weak overall demand.

From the looks of it, traders across the world have been consolidating their gains made in the previous month. Crude oil has dropped further to $44.48 while gold has gone up to $1,831 after falling most of last week.

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  • Rakesh Prasad @Rakesh Prasad
    Because of vaccine news nifty down side up from 110 point down.
    Like 1

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