Dalal Street high on hopes from FM Nirmala Sitharaman s third Budget speech
Experts expect that further rally in the market may need the economy to regain its mojo for which the Union Budget will prove to be a ideal platform
BusinessToday.In | January 7, 2021 | Updated 18:22 IST
The upcoming earnings season and announcements made by finance minister Nirmala Sitharaman will decide the direction of the market on February 1 and thereafter.
Finance Minister Nirmala Sitharaman will present Budget 2021 on February 1. With equity market hitting all-time highs since November last year, FM s Budget speech is likely to draw attention from stock market investors too. The upcoming earnings season and announcements made by finance minister Nirmala Sitharaman will decide the direction of the market on February 1 and thereafter.
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Dhiraj Relli, MD & CEO, HDFC Securities believes a large portion of the Nifty run-up is over and, from now on, its rise would be gradual and measured. January 03, 2021 / 07:25 AM IST
The Indian market ended the year 2020 in the positive territory with market benchmarks - Sensex and Nifty - scaling record highs.
The year 2021 is also expected to be a positive one for the market as it is showing resilience on the back of abundant liquidity, positive developments on the vaccine front and signs of economic recovery.
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Rusmik Oza of Kotak Securities expects the Nifty50 to go somewhere mid way of the 14,000 to 15,000 range in January. Sunil Shankar Matkar January 03, 2021 / 08:21 AM IST
The positive global cues helped the market gain momentum after consolidation seen in the previous week, and close above psychological 14,000 mark on the Nifty50 for the week ended January 1, 2021. The signing of second stimulus package by the United States, the approval for Brexit deal by the European Union & UK, and the development related to rollout of COVID-19 vaccine lifted sentiment.
The BSE Sensex jumped 895.44 points, or 1.91 percent, to 47,868.98 and the Nifty50 rose 269.25 points, or 1.96 percent, to 14,018.50, while the broader markets outpaced benchmarks with the Nifty Midcap index climbing 3 percent and Smallcap gaining 3.88 percent.
Small & midcaps outperform in last week of 2020; 30 stocks in BSE500 rose 10-30%
Final approval for the stimulus package from the Republicans in the US and the continued weakness in the dollar index has helped the market move upward, suggest experts.
Representative Image (Image: Pixabay)
Indian market zoomed past crucial resistance levels in the last week of the year 2020 where the Nifty50 climbed Mount 14K while the S&P BSE Sensex inched closer towards 48,000.
The benchmark indices closed with gains of about 2 percent but a large part of the action was seen in the small & midcap space.
The S&P BSE Sensex rose 1.91 percent while the Nifty50 closed with gains of 1.96 percent for the week ended 1 January 2021 compared with 2.7 percent rise seen in the S&P BSE Midcap index, and 3.3 percent rally recorded in the S&P BSE Smallcap index in the same period.