Taking Stock | Bulls stay in control as Budget rally continues on 4th day, Nifty crosses 14,900
Broader markets outperformed the main indices with BSE Midcap and Smallcap indices added 1.4 percent and 1.2 percent, respectively. February 04, 2021 / 04:36 PM IST
The Budget rally continued for the fourth straight day on February 4 supported by the PSU bank and metal stocks. Nifty crossed 14,900 amid mixed global markets.
At close, the Sensex was up 358.54 points or 0.71% at 50614.29, and the Nifty was up 105.70 points or 0.71% at 14895.70. One more positive session with index touching fresh high and closing the day on fresh highs at 14,888 with a gain of nearly one percent forming a bullish candle on the daily chart. Going forward, 14,750 has become a strong base in Nifty. Also one can consider this as a make or break level - any break below said levels can see some more profit booking but holding above said levels we may see index to march towards 15k mark, said Rohit Singr
US stocks rise as focus turns to stimulus, corporate earnings
Wall Street s main indexes gained on Thursday, as investors looked to corporate earnings and signs of progress on a pandemic-relief package after data suggested the labor market was stabilizing. The Dow Jones Industrial Average rose 265.2 points, or 0.86% to 30,989.11. The S&P 500 rose 23.92 points, or 0.61% to 3,854.07, while the Nasdaq Composite rose 74.95 points, or 0.55%, to 13,684.96.
European shares strengthen on recovery hopes
European shares rose on Thursday, extending a rally for the fourth straight day, as investors were hopeful of a swifter global economic recovery, with German shares leading the advance among European Union members. The STOXX 600 index was 0.25% higher, while Frankfurt shares rose 0.46%.
U.S. weekly jobless claims total 779,000 vs. 830,000 estimate (SPY +0.3%). Biggest premarket movers: Canada Goose, eBay, PayPal, Qualcomm.
Here is the current market situation from CNN Money
European markets are mixed. The DAX is higher by 0.26%, while London s FTSE 100 is off 0.42%. Shares in France are unchanged with the CAC 40 at 5,563.05.
What Is Moving the Markets
Here are the headlines moving the markets.
How High Will Oil Prices Go This Year? Introduction This week we hit some milestones in the year-long recovery from the oil demand crash of 2020. West Texas Intermediate, (WTI) hit and moved past the $55.00 level, and Brent moved closer to $60. These are some important psychological barriers for the market, and if sustained, as we expect they will be, will push prices higher. What happened? The API announced a significant draw of ~4.3 mm barrels in crude stocks yesterday when a modest build was expected. Moves lower in gasoline and distillate stocks bolstered this p
Market Movers: ITC, SBI lead gains; over 140 stocks give buy signal
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In an indication of the bullish sentiment in the market, over 200 stocks listed on the National Stock Exchange hit their 52-week highs in today’s session, including prominent names like Thermax, IndiaMART Intermesh and Sun TV Network.
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The outcome of the RBI’s Monetary Policy Committee meeting on Friday will determine the market’s direction as investors will await the central bank’s outlook on liquidity and inflation.
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MUMBAI: Benchmark equity indices ended higher for the fourth consecutive session today after an initial hiccup as investors managed to shrug off weak cues from other Asian markets. The gains on the Street were helped by a sharp recovery in banking stocks as well as support from fast-moving consumer goods companies.
The Nifty of the National Stock Exchange opened at 14,789 05 sandesh.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sandesh.com Daily Mail and Mail on Sunday newspapers.