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Reliance acquires 100% stake in UK’s Faradion
Let’s take a look at what happened on Dalal Street today.
Domestic benchmark indices broke their two-day loss run to end the last session of 2021 with strong gains amid board buying. Strong global cues and easing concerns around the Omicron version influenced the upside in today’s trade.
The BSE barometer Sensex closed up 565 points from 58,250 points, up 460 points. Its broader counterpart, Nifty 50, ended higher above the 17,350 level by over 150 points. Both the benchmark indices have gained over 20 per cent in 2021.
The broader markets outperformed headline rivals, with the BSE Midcap and Smallcap indices rising over a per cent each. The benchmark indices of second-ranked stocks have gained over 60 per cent in the current year. Fear gauge India VIX declined over 2 per cent but remained above the 16 level.
Only four stocks closed in the red on the BSE Sensex. NPTC fell 2 per cent, followed by Tech Mahindra by one per cent. Power Grid and Infosys were the other two stocks that closed lower. Titan was the top gainer with a gain of 4 per cent, followed by UltraTech Cement with a gain of 3 per cent. Kotak Mahindra Bank, SBI, Maruti Suzuki and Bajaj Finance gained 2 per cent each.
Over 700 stocks hit the upper circuit limit for the day and over 105 stocks hit the lower circuit. Around 130 stocks tested their 52-week highs during the session.
We have Arijit Malakar of Aashika Stock Broking to share his thoughts on the course of action and the way forward. Welcome to the show sir.
1. Domestic markets ended on a strong note in 2021. What were the reasons behind this?
2. What are the key lessons learned by equity investors this year?
We also got in touch with Nilesh Jain of Centrum Broking to decode the technical charts for you.
1. Nifty 50 touched the level of 17,400 in the last session of 2021. How will you assess this year?
2. What is your view on the overall performance of Nifty Bank this year?
Asian markets mostly closed higher for the day. Major European markets were trading mixed in the first few hours of trading. US stock futures were down, pointing to a negative start in US equities later in the day.
That’s all for now. Check out ETMarkets.com for all the news, market analysis, investment strategies and dozens of stock recommendations. Enjoy your evening. Bye!