December 07, 2021 / 10:20 AM IST
Gaurav Garg, Head of Research, Capitalvia Global Research:
The Indian benchmarks have started today on positive note tracking gains across global markets. Traders may take note of the state minister statement that India currently has the fourth largest foreign exchange reserves in the world. Market participants may be concerned with the report that two more cases of the Omicron variant were detected on Monday.
Some cautiousness may come with a private report that the continued effects of the Covid-19 pandemic and concern about future public health crisis impacted Indian business leaders for the second consecutive year.
There will be some reaction in aviation industry stocks as the Minister of State of civil aviation said the airline and airports in India incurred an estimated loss of Rs 19,564 crore and Rs 5,116 crore, respectively in 2020-2021 due to severe disruption caused by the Covid-19 pandemic.
The levels of 16750 may act as an important support levels in the market. We can expect it to trade in the range of 16750-17300.
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