S&P 500 closed at an all-time high on Monday,for the second consecutive trading session, the index soared past its previous record as markets charged higher heading into the final week of 2021. All three major U.S. indexes gained in a promising sign for stock market bulls that a Santa Claus Rally is well underway. At close, the S&P was up 1.38% , while the Dow saw 0.98% jump. The Nasdaq Composite also gained 1.39%.
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US dollar index traded near 96.07, cboe vix declined below 18, 10 year traded near 1.48%.
Crude futures saw a strong rally on risk on trade. Brent moved above 79, WTI above 75.75
Indian stocks on the BSE and National Stock Exchange ended around 0.5 per cent higher on Monday aided by gains in pharmaceutical, financial and IT stocks amid a largely positive trend in global markets.Nifty closed above 17050, Sensex above 57400.
For the day watch for further gains in stocks on the back of strong global equity sentiment. Traders may watch Nifty 17171 to 17222 zone for momentum towards 17371 to 17444 to start with. Investors may use the ensuing "Santa rally" to take some profit off the table.
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By: via @AlliesFin Serve Stock Market
