Daily Market Report (8 Nov 2021)
- Despite the imminent tapering by end-November, Wall Street cheered the better than expected job data as all 3 major indices closed on record high again.
- The DJI Average was up 204 points while the Nasdaq was 31 points higher at almost the 16,000 mark. We expect regional markets to react positively on Wall Street performance today.
- For the local bourse, following a week long downtrend, we anticipate some bargain hunting to emerge today.
- Therefore, we anticipate the index to see some upside today and to hover within the 1,530-1,540 range though sentiments remains cautious.
