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Let’s take a quick look at what happened in Dalalstraat today:
Equity investors today earned Rs 1.8 lakh crore as the bull run continued non-stop for the fourth consecutive day. Both Sensex and Nifty hit new highs with financials leading the way.
A robust decline ratio defined the day’s trading, with winners more than double the number of losers on the BSE.
Top private lender HDFC Bank rose 1.15 percent, while mortgage lender HDFC climbed 1.25 percent to Rs 2,485. Pear ICICI Bank rose 1.28 percent to Rs 520.20.
With so much exuberance in the market, the question is, what awaits the future for investors? Will the party continue in 2021?
To discuss this and more, we met with Ajit Mishra, VP – Research, Religare Broking.
Welcome to the show, Mr. Mishra.
1) The market reached new highs again today. What caused it and what is the outlook now?
2) With the UK closing a deal for Brexit, what are the outlook for Europe-focused equities? Any preferred sector or stocks?
3) We’ve seen some high ticket deals in luxury real estate. According to reports, there is also demand for housing again. What are the outlook for real estate equities for 2021?
On a technical level, while Nifty held the pivotal level of 13,750, analysts foresee an upward projection to levels of 13,990.
We spoke to Nilesh Jain, Derivative & Technical Research Analyst at Anand Rathi Financial Services, to decipher the charts.
1) What is the market like in the charts after today’s trading?
2) What do you read of the M&A data?
3) How are momentum indicators developing for the coming sessions?
Globally, stocks advanced after Britain and the European Union signed a long-awaited trade deal, and a massive stimulus package from the US boosted risk appetite around the world.
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!