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Sensex, Handy Climb to New Record Highs; broader indices underperform
Ms. Bector’s IPO has subscribed 198 times in the past day
Anil Agarwal looks at the Indian divestment plan with a $ 10 billion war chest
Bitcoin soars above USD 23,000 as more Wall Street companies pile up
Ministry of Defense approves acquisition proposals worth Rs 28,000 crore
Now let’s take a quick look at what happened on Dalal Street today.
[ Opening a High-Yield Anonymous Offshore Bank Account with the Best Savings Interest Rates , plus many International Banking features like Instant Offshore Account & High Interest Rates ]HDFC twins contributed the most to Sensex’s bottom line today. Reliance Industries and other financial institutions were also in demand.
Based on FII investment and positive comments from the US Fed, Sensex climbed more than 220 points to close close to 46,900, while Nifty settled close to 13,750. Both indices closed at new record highs.
Ms. Bectors Food’s IPO was subscribed nearly 200 times on the last day, following the great success of Burger King, which finally made gains on the stock markets. Meanwhile, Antony Waste Handling Cell comes with his second attempt to raise money.
To discuss whether this flurry of IPOs will continue to succeed and whether the market trading at frothy valuations can correct, we caught up with Vinod Nair, Head of Research at Geojit Financial Services.
Welcome to the show, Mr. Nair
1) Burger King and Ms. Bectors have received strong responses. Do you think small IPOs will have a good time?
2) Are you satisfied with current market valuations?
3) How much correction should be healthy for the market right now?
Technically, analysts expect December to be trading with a positive bias, while not ruling out the possibility of an increase in volatility in January.
We spoke with Rohit Singre, Senior Technical Analyst at LKP Securities, to decipher the charts.
Welcome to the show Mr Singre.
1) What does the Nifty card tell you right now? How far can we go from here?
2) What can Bank Nifty expect in the short term?
3) India VIX has been trading around 19-20 levels for a while which is relatively high compared to pre-Covid levels. Do you see it reflecting nervousness in the market?
Globally, stocks traded mixed with the UK in red, while Germany and France traded in green. With the Fed meeting over, the focus will shift to the Brexit negotiations as there is real fear of a no-deal Brexit.
That’s it for now. Check out ETMarkets.com for all the news, market analysis, investment strategies and dozens of stock recommendations. Enjoy your evening. Bye!
