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Let’s take a quick look at what happened on Dalal Street today.
The benchmark capital indices were brought to the 2020 calendar on a warm note. A decline in heavyweights, such as TCS, RIL and ITC, offset gains in banking and financial stocks, as indices ended on December F&O.
The Sensex package of 30 witnesses witnessed the flip trading, before ending the day with 5 points above. With this, the index recorded the seventh day of consecutive gains. Nifty, however, broke his winning streak after breaking the 14,000 intraday level. It closed the F&O series in December at 13,982.
TCS, UltraTech Cement and Bharti Airtel each decreased by 1.3%. Kotak Mahindra Bank, Tech Mahindra and ITC fell 1% or more. SAIL, BEL, Jubilant Foodworks and Vodafone Idea won by 4-6%. Higher market indices outperformed by a good margin.
With the end of the 2020 Calendar, what do we expect in 2021? We caught up with Vinod Nair from Geojit Financial Services to find out how investors can position themselves in the New Year.
Welcome to the show, Mr. Nair.
1) What are the market prospects for 2021?
2) Where do you find value in this market as we move towards 2021?
On the technical charts, Nifty50 formed another day of undecided candle formation. I spoke with Rohit Singre, senior technical analyst at LKP Securities, to decode the daily charts.
Welcome to Mr Singre.
1) Nifty raised 14,000 in intraday trading on the day of the expiration of the F&O. Where is he going?
2) What are the prospects for Nifty Bank after the December expiration?
Globally, other Asian markets ended higher, while European markets traded in red at the beginning of trading. US futures rose further.
This is all for now. Check out ETMarkets.com for all the news, market analysis, investment strategies and dozens of stock recommendations. Enjoy your evening. Bye! Bye!