May 26, 2021
Expectation of stimulus, falling Covid cases to anchor market direction
The Indian market on Wednesday will likely open on a flat note on lack of clear direction from global markets. However, with with May derivative contracts expiring on Thursday (tomorrow), the market is likely to witness volatility.
However, according to analysts, reports of a Government stimulus package and falling Covid-19 cases are positive triggers.
The SGX Nifty futures is currently ruling at 15,240 (8 am IST), indicating a flat opening for the Nifty. The Nifty May and June futures on Tuesday closed at 15,218 and 15,248.10 respectively.
After opening positive on Tuesday, US stocks too ended flat surrendering initial gains. Similarly, Asia-Pacific markets such as Japan, China, Hong Kong, Australia, Taiwan and Korea are also witnessing a lackadaisical trading on Wednesday.
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During the last trading week, the 30-share BSE benchmark Sensex jumped 1,807.93 points or 3.70 per cent.
From the top-10 list, only
Hindustan Unilever Limited (HUL) witnessed a decline in its market valuation.
HDFC Bank s market capitalisation jumped Rs 60,584.04 crore to reach Rs 8,25,619.53 crore.
Reliance Industries Limited (RIL) added Rs 40,604.13 crore to take its valuation to Rs 12,68,459.17 crore.
State Bank of India s valuation zoomed Rs 36,233.92 crore to Rs 3,57,966.17 crore, while that of ICICI Bank gained Rs 31,319.99 crore to Rs 4,44,563.06 crore.
The market capitalisation of Bajaj Finance rallied Rs 18,279.85 crore to Rs 3,39,871.90 crore and that of HDFC rose by Rs 16,983.46 crore to Rs 4,53,863.21 crore.