On the first day of December F&O series, Sensex and
Nifty outperformed global peers on the back of buying demand among sectors like
financials, metal and capital goods. Investors took fresh
position on the first day of December series on hopes that the government would
pass a key reform on a goods and services tax (GST) in the ongoing winter
session of the Parliament. The Sensex closed higher by 170 points at 26128
and the Nifty rose 59 points to end at 7943. The impressive line-up of
events as well as disappointing Q2 earnings will cause investors to be cautious
on frontline names. Volatility could be high due to news flows from Parliament,
auto sales numbers and RBI’s Monetary Policy in India and global factors such
as continued nervousness in China and war on terror in the
Middle-East.