Markets may witness profit-taking after 50K peak; all eyes on Budget
From witnessing gigantic losses to record-shattering gains, investors witnessed a wide array of emotions in 2020. Markets showed volatile trends last year, with the benchmark crashing to its one-year low of 25,638.9 on March 24, only to roar back to reach record highs in the later part of the year.
Mumbai: Celebrations at BSE after the sensex crossed 50000 mark for the first time, in Mumbai, Thursday, Jan. 21, 2021.
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The Indian stock market which added another feather to its cap by scaling the 50,000-mount for the first time ever may witness some profit-taking ahead but for now, all eyes are on the upcoming Union Budget that will influence the onward journey of the bluechip index, according to analysts.
The BSE Sensex scaled the 50,000-mark for the first time on Thursday. However, widespread profit booking and weak global cues hit markets and the Sensex tanked 1.5 per cent or 746 points on Friday while NSE Nifty dropped below 14,400 level., , markets, volatile, bse sensex, indian shares
Synopsis
The Budget is likely to have a major impact on the market, depending on whether it is positive or negative from the market perspective. If the Budget is growth-oriented, reformist and investor-friendly, the market will respond positively.
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On the road ahead, V K Vijayakumar, Chief investment Strategist at Geojit Financial Services, said markets are likely to turn highly volatile reacting to events and news.
NEW DELHI: The Indian stock market which added another feather to its cap by scaling the 50,000-mount for the first time ever may witness some profit-taking ahead but for now, all eyes are on the upcoming Union Budget that will influence the onward journey of the bluechip index, according to analysts. From witnessing gigantic losses to record-shattering gains, investors witnessed a wide array of emotions in 2020. Markets showed volatile trends last year, with the benchmark crashing to its one-year low of 25,638.9 on March 24, only to roar back to reach re
The Indian stock market which added another feather to its cap by scaling the 50,000-mount for the first time ever may witness some profit-taking ahead but for now, all eyes are on the upcoming Union Budget that will influence the onward journey of the bluechip index, according to analysts.
From witnessing gigantic losses to record-shattering gains, investors witnessed a wide array of emotions in 2020.The record-breaking run has been continuing, with the benchmark reaching the momentous 50,000-mark on January 21