Stocks like Bharat Forge rallied over 9 percent, Ashok Leyland gained more than 5 percent while Hindustan Copper closed with gains of over 7 percent in a subdued market.
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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.
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Sensex rises 16% in 2020 despite Covid-19 pandemic, posts highest returns since 2017
Sensex has gained 15.75% in 2020 despite falling to its multiyear low in March when coronavirus threat roiled the Indian equity market
Aseem Thapliyal | December 31, 2020 | Updated 18:41 IST
Sensex has managed a huge gain of 6,497 points in 2020 to close at a record high of 47,751 on the last trading day of 2020.
Sensex ended the roller coaster ride of 2020 at a record closing high, buoyed by positive sentiments in global markets. The index has gained 15.75% in 2020 despite falling to its multiyear low in March when coronavirus threat roiled the Indian equity market. The 30-share index has managed a huge gain of 6,497 points in 2020 to close at a record high of 47,751 on the last trading day of 2020. During the session, the index also touched its all-time high of 47,896.