Given that the future is uncertain, I tend to think of stocks in terms of risk-reward trade-offs. Without getting into specific names, I see favourable risk-reward in banks, industrials, IT, and certain commodity sub-sectors.
Budget rally takes Sensex to 52,000: Here are 5 takeaways for investors
The markets are likely to inch towards 53,500 in the near term. 51,200 is now crucial support on the lower side, says Jay Thakkar February 16, 2021 / 10:56 PM IST
Indian markets have been on an upward trajectory since Union Budget which was announced on February 1. The growth-oriented proposals by Finance Minister Nirmala Sitharaman have helped Sensex climb 52,000 levels after a steep correction prior to the Budget.
Nifty50 also raced past 15,000 for the first time on February 5 and it took only six sessions for the 50-share index to surge past 15300 levels.
After a week of consolidation, the S&P BSE Sensex closed 609 points higher at 52,154 while the Nifty50 closed with gains of 151 points at 15,314 on Monday.
(MENAFN - ING) Overnight: US Treasuries rare rebound
USD markets reopened after an extended weekend to a fairly light trading session and newsflow. Against a background of broadening economic optimism, the threat of China banning rare earth materials weighed on the mood and allowed bond futures to rebound. Still, the 10Y benchmark went within a whisker of our weekly target of 1.25% at some point in the Asian session.
As reflation hopes broaden in Europe (see next sections), the focus could still shift to one of the key reasons we expect economic divergence with the US this year: fiscal policy. In the UK, the institute for fiscal studies suggested £60bn of tax increases are necessary to pay for measures taken during the pandemic. In the EU, the Eurogroup said it will decide on a common budget stance by the summer. Higher EUR rates are nothing to be scared of