Both Sensex and Nifty, along with midcap and smallcap indices, clocked fresh highs today as investors celebrated BJP’s big gains in MP, Rajasthan and Chhattisgarh.
Jio Financial Services, Reliance Industries, Power Grid, JSW Steel, Larsen & Toubro, and ONGC contributed the most to the losses in Sensex.
As Nifty breaks 19,000 level, it may induce an upward movement towards the 19,450, says analyst at LKP Securities.
This speciality chemical stock touched all-time high of ₹1,131 intraday today, while it surged 106% against its 52-week low of ₹547.10 hit on June 20, 2022.
On Monday, the midcap stock surged as much as 9.2% to hit a record high of ₹847.6 on the BSE on the back of strong volume.
The Covid-19 pandemic failed to affect the bulls’ spirits, as benchmark indices saw absolute annual gains between 75.2% and 117.2% while FPIs pumped in a record ₹2.74 lakh crore into equities.
Market experts welcome the 30–stock benchmark adding 6,000 points since December 1, but also caution against stretched valuations.
While the year was marred by the Covid-19 pandemic, lockdowns, and negative GDP, the equity benchmark indices, however, saw record highs. Will the trend continue in 2021 too?
Fears over a new strain of the Coronavirus, discovered in the U.K., hit India's stock market on Monday, with benchmark equities witnessing the hardest fall in the past seven months.
Franklin Templeton India has closed six yield-oriented schemes—which accounted for 63.4% of its total debt-oriented funds’ average AUM. It links the closure to Covid-19-related market dislocations.
