Sensex ends above 49k for the first time, Nifty at 14,485; IT, auto stocks shine
Sensex opened at a new high on Monday.
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Share Via 11 Jan 2021, 03:38:46 PM IST
Indices end at record highs
Heavyweights helped benchmark equity indices close at record highs on Monday on hopes of better Q3 earnings. Sensex jumped 486 points to end at 49,269 led by IT and auto stocks. Nifty closed 1% higher at 14,485.
HCL Tech, Infy and HDFC were the top gainers on the Sensex, while Bajaj Finance and its twin Finserv and Reliance were the biggest laggards. The broader markets underperformed benchmark indices.
On the Sensex, 20 stocks advanced and 10 declined.
Read more about SBI Life Insurance Company Ltd up for third straight session on Business Standard. SBI Life Insurance Company Ltd is quoting at Rs 945.2, up 3.4% on the day as on 12:49 IST on the NSE. The stock is down 4.38% in last one year as compared to a 17% jump in NIFTY and a 6.29% jump in the Nifty Financial Services index.
Daily Market Commentary - Jan 7, 2021 - Bonanza Portfolio
Posted On:
Mr. Vishal Wagh, Research Head
On Thursday Indian equity benchmarks made an optimistic start tracking firm cues from Asian peers. Markets are trading in fine-fettle with gains of over half a percent on the back of healthy buying in Metal, Realty and Basic Materials stocks. In the afternoon session, Indian equity benchmarks maintained their upward momentum following gains in telecom, metal and basic materials stocks. Both Sensex and Nifty are trading around 48,100 and 14,150 levels.
Asian markets were trading mostly in green amid optimism over the rollout of Covid-19 vaccines, with India s huge vaccination drive likely to kick in from next week.
Initiating Coverage - HDFC Life Insurance - ICICI Direct
Posted On: 2021-01-07 06:43:47 (Time Zone: Arizona, USA)
HDFC Life Insurance (HDFC Life) is among the dominant private players in the Indian life insurance space today. It was established in 2000, as a joint venture between HDFC Ltd and Standard Life. The company is one of the most profitable in the industry and has gradually shifted from Ulip heavy to a more balanced product mix. HDFC Life has a strong distribution network with partnerships ranging from banks (includes HDFC Bank), NBFCs, MFIs and new age distributors. Diversified product portfolio and focus on product innovation has enabled HDFC Life to be ahead of the curve.
Private lender IDBI Bank has concluded the sale of 23 per cent stake in IDBI Federal Life Insurance Company Ltd (IFLI) to Ageas Insurance International NV for a consideration of Rs 507 crore. With this, Ageas will hold 49 per cent stake in insurance venture, which is now being rebranded as Ageas Federal Life Insurance Company. On August 6, 2020, IDBI Bank inked a pact to sell up to 27 per cent in IDBI Federal Life to venture partners Ageas and Federal Bank. Of the total shareholding to be divested, 23 per cent was to be sold to Ageas while Federal Bank would acquire up to four per cent stake.