Small & midcaps outperform in historic week: nearly 50 stocks in BSE500 rise 10-40%
The strategy should be to buy the dip towards 14000 while on the upside big resistance could be seen near 14500-14600 levels in the coming week, suggest experts.
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It was a historic week for Indian markets where Nifty50 hit a fresh record high above 14,300 for the first time while the S&P BSE Sensex inched closer towards 49,000 but the big action was seen in the broader market which scaled fresh record highs.
The S&P BSE Sensex rose 1.9 percent while the Nifty50 closed with gains of 2.3 percent for the week ended January 8 compared to 5.3 percent seen in the S&P BSE Mid-cap index, and the S&P BSE Small-cap index rose 3.5 percent in the same period.
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FAANG stocks rebound after Democratic wins in Georgia shake Big Tech
Will DanielJan 8, 2021, 03:17 IST
Big Tech recovers after a rough day Wednesday on Wall Street.Matteo Colombo/Getty Images
FAANG stocks recovered Thursday after a tough Wednesday session caused by Georgia s surprising election results.
Gillman Hill Asset Management CEO Jenny Harrington pointed to newfound clarity of what s to come from
Washington as her reasoning for the rebound.
Other analysts noted the potential for more fiscal support and less political gridlock as a boost to
Big Tech names.
Jon Ossoff and Raphael Warnock pulled off narrow victories in the Georgia Senate election runoffs Wednesday. This led to uncertainty for FAANG names, which were down across the board, as investors digested the likelihood of increased regulation for Big Tech under a Democrat-controlled government.