Morning update for 4 December 2020

Indices at 10:30 am

Nifty50 13,230 ▲+96 (+0.73%) 

Sensex 44,965 ▲+332 (+0.75%)

Nifty Bank 29,888 ▲+439 (+1.49%)

In the news

RBI keeps rates unchanged

• As expected, the RBI has maintained its accommodative stance and kept interest rates unchanged at 4%. This comes amid a recovering economy and rising inflation. 
• The markets gave a thumbs up and the Nifty rose higher post the RBI’s decision.

Bharti adds more users than Jio in September

• For the first time in four years, Bharti Airtel added more new mobile subscribers than Reliance Jio, in September.
• Bharti Airtel’s net addition was 3.77 million new customers, while Reliance Jio added 1.46 million. Meanwhile, Vodafone Idea lost a massive 4.65 million subscribers during September, indicating customer churn. 
• Since October 1, shares of Bharti Airtel have gained ~14%. 

Dow rises and Nasdaq hits record high

• Lower-than-expected initial jobless claims and a rise in the Services PMI indicated that economic recovery is on track, which helped the US indices to scale higher. 
• The US dollar index extended its losing streak as talks of fresh fiscal support resumed in the US. 
• The tech-heavy Nasdaq index a hit record high. For 2020, it has gained ~38% and reached its highest level since 2013.

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Sectoral indices

Global markets

Fact of the day

Research shows that on average women smile 62 times a day and men only smile 8 times a day. And children, 400 times!

Source: Medicalartsdental.com

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