Market Watch: Why is December such a good month for stocks? | The Economic Times Markets Podcast

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Market Watch: Why is December such a good month for stocks? | The Economic Times Markets Podcast


Welcome to ETMarkets Watch, the show about stocks, market trends and money-making ideas. I am Nikhil Agarwal and here are the top headlines at this hour.

Sensex, Nifty end higher for 6th day led by auto and metals
Serum’s chances for Covishield nod rise after UK regulator approves Oxford COVID-19 vaccine
Bitcoin hits new record, set for biggest monthly gain since 2019
India eyes asset sales to partly fund higher spending next year
Cement stocks rally up to 20% on heavy volumes

Let us take a quick glance at what happened on the Dalal Street today.

Benchmark equity indices Sensex and Nifty extended their gains for the sixth straight session on Wednesday, led by gains in Bajaj Finance, HDFC Bank, Kotak Mahindra Bank and UltraTech Cement.

The 30-pack index traded in a range during the session, before hitting a record high of 47,807.85 in late trade. It eventually closed at 47,746, up 133 points.

The broader NSE Nifty ended shy of 14,000 level, which is seen as a crucial resistance level for the index.

Auto stocks Maruti and M&M gained 2 per cent each ahead of December sales figures later in the week. Kansai Nerolac surged 8.9 per cent. SAIL jumped 7.7 per cent. India Cement soared 20 per cent while Star Cement rallied 14 per cent.

As the market hit another record high, a lot of investors are waiting on the sidelines for a healthy correction. Will they get one? We caught up with AK Prabhakar of IDBI Capital to know why there is a market frenzy of late.

Welcome to the show, Mr Prabhakar
1) Benchmark indices have fallen only on three occasions in December. Do you think such a rally is unhealthy?

2) Why were cement stocks in the limelight today? Do you see a further rally in this pocket?

3) What is your view on metals and energy stocks?

Technically, the index formed an indecisive candle that resembled a Dragonfly Doji on the daily chart. We spoke to Amit Trivedi of YES Securities, to decode the daily charts.

Welcome to the show Mr Trivedi.

1) Nifty is ruling at record highs levels. What are the technical indicators suggesting?

2) Where is Bank Nifty headed? Can we expect a halt in momentum now?

Globally, other Asian markets ended mixed, while European markets were trading higher in early trade. US stock futures were up 0.3 per cent.

That’s all for now. Do check out ETMarkets.com for all the news, market analysis, investment strategies and dozens of stock recommendations. Enjoy your evening. Bye Bye!





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