US stocks gained on Thursday as investors cheered the Biden administration s plan to better tackle the COVID-19 pandemic. President Joe Biden on Wednesday
Updated Jan 20, 2021 | 08:37 IST
The Nifty gained over 200 points to post its best day since 5 November 2020 led by Bajaj Finserv while the Nifty Bank gained over 600 points to post its best day since 4 December 2020 as all stocks gained. Trade setup for Indian equity markets for January 20, 2021 | Photo Credit: IANS
Key Highlights
All sector indices gain at least 1% each except Nifty IT & FMCG
India VIX falls most since January 1
Mumbai: The NSE Nifty gained over 200 points to post its best day since November 5, 2020, led by Bajaj Finserv while the Nifty Bank gained over 600 points to post its best day since 4 December 2020 as all stocks gained led by IDFC First Bank. The 50-stock index snapped its 2-day losing streak and the banking gauge curtailed its 3-day losing streak.
US stocks gained on Tuesday after two straight days of losses last week as investors await a flood of earnings reports in the week ahead.
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Yellen also said that there won t be any tax hikes or repeals of the 2017 tax reform provisions while the US is coming out of the pandemic in 2021, but any plans for tax changes could still jolt
markets. Yellen said that the details of tax changes may be featured in this year s infrastructure bill, which she is going to help draft. This could be setting up an ebullient market for a bit of a bull correction. Investors are more likely to get jolted when seeing details of the tax hikes, just as they got giddy in 2017 when the corporate tax cuts were announced, said Max Gokhman, Head of Asset Allocation at Pacific Life Fund Advisors.Netflix is set to report fourth-quarter earnings after the market closes on Tuesday. Here s what four analysts expect when the streaming giant reports earnings and how they expect the stock to move. Yo
Synopsis
A study done on the IT companies that have a market capitalisation of more than Rs 5,000 crore showed none of the Indian IT giants could make it to the Top 5 in terms of highest 10-year returns.
Agencies
IT companies have performed exceedingly well in last one year, surpassing the returns of last 5 years.
In 2020, BSE IT and BSE Healthcare indices outperformed other sectoral indices with gains of 56 per cent and 61 per cent, respectively. During the same period, the benchmark Sensex rose 15 per cent. Stocks from both the sectors have seen a phenomenal run.
India is moving towards becoming a digital economy. Being one of the fastest emerging sectors, IT has shown global reach, lower risk, high- quality infrastructure, and connectivity that contributes immensely to the Indian economy. Its growth is escalating due to components such as BPO and government initiatives such as Digital India, MeitY Startup Hub (MSH).