Home Vietnam congress, Fed meeting, tech reports, Davos goes online
Vietnam congress, Fed meeting, tech reports, Davos goes online
Start every week on the front foot with a preview of what’s on the global agenda
World Economy News
24 Jan 2021 • 6 min read
This week brings two big gatherings with the Davos World Economic Forum going online all week, while Hanoi hosts the Vietnamese Communist party’s national congress. The Federal Reserve holds its first meeting of 2021 and the US releases its first reading of fourth-quarter gross domestic product. UK and German unemployment numbers are out alongside key GDP figures from Europe and Asia, while the latest quarterly earnings reports are expected to show tech giants Apple, Facebook and Microsoft ending 2020 on a high note.
ALTHOUGH the recovery theme has been the focus of investors in the weeks closing out 2020 and entering 2021, analysts caution that it is not a broad-based nor clear-cut theme because there are still many uncertainties ahead, even though vaccines for Covid-19 are now available.
Be selective and study the stocks, as not all in the recommended sectors will deliver, cautions Areca Capital CEO Danny Wong, following a 34-point slump in the KLCI in the new year on the back of profit-taking focused on glove makers and banking counters before losses were slightly pared and the benchmark closed at the 1,602 level.
“This first week of the year has been a guide for us. Those who want to participate in the market can tell that 1H2021 should be better than last year on account of positive vaccine news, better business sentiment and the notion that most businesses will see recovery in earnings over the next two quarters,” Wong tells The Edge, noting that longer-term investments with a two- to
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Share Market Highlights: Sensex ends 1,406 points lower, Nifty at 13,328; Nestle, HUL, Infosys top losers
India Stock Market Highlights Today: Global equities were bearish today as coronavirus infections increased in parts of North Asia, such as Japan and South Korea, and weighed on investor sentiment. European countries have banned flights from the UK as the British government began emergency lockdown on Sunday, over fear of new virus strain.
BusinessToday.In | December 21, 2020 | Updated 16:57 IST
Share Market Highlights: Here s a look at the updates of the market action on BSE and NSE today
Sensex, Nifty Highlights on December 21: Equity indices fell 3% each on Monday and closed sharply lower, in line with globally weak equities amid rising coronavirus cases and concerns over fresh rounds of lockdown. Reversing trend from 6 days of consecutive gains, Sensex fell by 1,406 points to 45,553 and Nifty ended 432 points lower at 13,328. Global equities were bearish today as
FII inflows, US stimulus talks among top factors that may guide D-Street this week
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Last Updated: Dec 20, 2020, 10:38 AM IST
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Synopsis
Going by the buzz on Dalal Street, here are key factors which are likely to chart the market direction this truncated week.
The market breadth has also improved as all Nifty components are trading above their long term 200-day moving average, signifying durability of the current up move.
NEW DELHI: Bulls dominated bears in the week gone by with the benchmark equity indices scaling their fresh record closing highs on every trading session of the week as sentiment stood buoyant following firm global cues amid unabated inflows by foreign institutional investors. Also, the country’s index of industrial production (IIP) which grew 3.6 per cent in the month of October with recovery in manufacturing, consumer goods and power sectors further fuelled investor sentiment.