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Let us take a quick glance at what happened on the Dalal Street today:
Stock investors made Rs 1.8 lakh crore today as the bull run continued non-stop for the fourth consecutive day. Both Sensex and Nifty scaled new highs with financials leading the charge.
A robust advance-decline ratio defined the trade in the day, with gainers more than double the number of losers on the BSE.
Top private lender HDFC Bank advanced 1.15 per cent, while mortgage lender HDFC climbed 1.25 per cent to Rs 2,485. Peer ICICI Bank rose 1.28 per cent to Rs 520.20.
With such exuberance in the market, the question is what’s next is in store for investors? Will the party continue in 2021?
To discuss this and more, we caught up with Ajit Mishra, VP – Research, Religare Broking.
Welcome to the show Mr. Mishra.
1) Market reached fresh highs again today. What caused it and what is the outlook now?
2) With the UK clinching a deal ahead of Brexit, what is the outlook on Europe-focussed stocks? Any preferred sector or stocks?
3) We have seen a number of high ticket deals in luxury real estate. Reports are also saying residential properties are back in demand. What is the outlook on real estate stocks for 2021?
On the technical front, as Nifty sustained over the crucial level of 13,750, analysts are foreseeing an upside projection till the levels of 13,990.
We spoke to Nilesh Jain, Derivative & Technical Research Analyst at Anand Rathi Financial Services, to decode the charts.
1) How the market is looking on the charts after today’s trade?
2) What is your reading of the F&O data?
3) How are momentum indicators shaping up for the next few sessions?
Globally, stocks advanced after Britain and the European Union signed a long awaited trade deal, and a bumper U.S. stimulus package boosted risk appetite across the world.
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!