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NEW DELHI: Nifty breached its 14,000 levels and touched its all-time high in the intraday session on Thursday and formed an indecisive candle on the daily chart. The 50-pack formed consecutive indecisive candles in the recent sessions, which signals towards caution that is being employed by the market participants with consistent profit booking and buying on dips approach.
Ajit Mishra, VP - Research at Religare Broking opined, investors would await the auto sales numbers and PMI data as it would help in gauging the economic recovery. Further, global cues are likely to dictate the trend for the markets in the near term. We reiterate our cautious stance on the markets.
Imagine starting a new job in 2020 and that too at the helm of a listed company in India. Nearly two dozen senior executives did so at different times this year.
Moneycontrol Pro Weekender | Christmas comes early
The market rally is riding on chiefly the promise of vaccination. Investors seem to be sidestepping execution risks in India for the moment December 12, 2020 / 10:35 AM IST
Never has the promise of a jab made so many people feel so high at the same time.
The vaccine rally is well and truly on. US market valuations are reaching levels seen in the dotcom boom of the 2000s with recent IPOs such as AirBnB and DoorDash having had bumper openings. Sensex has crossed 46,000 crowning India among the most expensive emerging markets.
But that doesn’t seem to deter investor optimism and the markets continue to make fresh highs.To be sure, the economy is indeed getting back on its feet, as our recovery tracker shows. October industrial production rose 3.6 percent, the fastest in 7 months. There is promise in indicators such as growth in ports cargo traffic, which helps firms like Adani Ports. The industrial capex machinery is s