Shares of gold financing firms, Muthoot Finance and Manappuram Finance, have traded largely in-line with the benchmark S&P BSE Sensex so far in the calendar year 2021 amid correction in gold prices owing to improving US treasury yields, backed by swift economic recovery. And while gold experts remain bullish on the yellow metal, analysts tracking the two non-bank finance companies (NBFCs) believe near-term headwinds continue to dampen outlook for the stocks. So far in CY21, shares of Muthoot Finance have advanced 9 per cent on the BSE while those of Manappuram Finance have gained around 6 per cent. In comparison, the headline S&P BSE Sensex is up 7.7 per cent till March 3, ACE Equity data show.
Watch out for these 4 big risks that market faces in 2021
The expected recovery in earnings and the economy in 2021 seems to have been priced in by the market. If there is any disappointment, then the market can nosedive, say experts . January 08, 2021 / 02:02 PM IST
In the year 2020, the coronavirus outbreak and subsequent lockdown upended lives and wrecked economies in the early months. In the later part of the year, as restrictions eased, the Indian economy showed signs of recovery, so did the market.
Improved economy and earnings, ample liquidity, central banks decision to keep interest rates low, vaccine rollout and measures taken by the Reserve Bank of India and the government saw the market rally 15 percent in 2020 to hit record highs.
The biggest market winners and losers of 2020, at home and abroad
The Nasdaq Composite, the tech-heavy index, gained the most among these three US indices, rallying more than 43 percent in 20202.
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The year 2020 was off to a bad start as the coronavirus began spreading from Wuhan, where the first case was reported late in 2019. As the virus spread, countries including India, opted for lockdowns to curb infections as the human toll began to mount. The restrictions wrecked economies and benchmark indices crashed 40 percent in March but after hitting multi-year lows, markets started rebounding in the last week of March.
Room For Demand-side Measures In Budget As Actions So Far Have Been Supply-centric, Says Joseph Thomas Of Emkay moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
BSE, NSE shut today on account of Christmas holiday
The flow from the foreign institutions has slowed during the week as they net bought equities to the tune of Rs 2,591 crore till Thursday, as compared to Rs 11,806 crore of investments in the previous week. December 25, 2020 / 11:10 AM IST
All segments of trading will be close on the Bombay Stock Exchange as well as the National Stock Exchange on December 25 on account of the Christmas holiday.
Wholesale commodity markets, including metal and bullion, will also remain shut, while the trading activity will not be seen in the forex and commodity futures markets too.