Market trend higher in oil, aviation, auto stocks in focus

In the market crude oil prices rallied as the group of Petroleum Exporting Countries (OPEC) markets with an agreement to cut oil production by 1.2 million barrels a day, in an effort to support oil prices.

Asian markets opened on a positive note early after OPEC reached its first deal since 2008 to cut oil production.

 Australia's ASX 200 was up 0.58 %, with powerful gains in its energy sub-index, which rise 6.76 % and its materials sub-index, which was move up 2.14 %.

For More Details Latest News & Stock Future tips Visit us @ http://www.tradebizzindia.com/freetrial.php

The Nikkei 225 surged 1.55 % in near the beginning trade, likely because of the weaker which hovered at the 114 handle. 

US stocks edged higher as an positive outlook from United Health, lifted health insurers, though a quick drop in oil prices weighed on energy shares and limited the advance.

The $ yields were sharply prominent early on Thursday after OPEC agreed to a deal to reduce output to clear a supply glut that has crunched oil prices.

 

 Back home, the 30-share BSE Sensex flow 258.80 pts or 0.98 % to 26652.81 and the 50-share NSE Nifty jumped 82.35 pts or 1.01 % to 8224.50 yesterday.

Auto stocks are likely to be in focus today as November sales data will be announced. Demonetisation may hit auto sales as retail growth is expected to be sharply lower for all companies. 

Medium and heavy commercial vehicles (MHCV) segment may be impacted the most. Analyst expects 30 % drop in retail volumes and passenger vehicle industry may see 20 % drop in retail sales.