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Sensex, Nifty rally 10% since Budget Day to hit record highs: What should investors do now?
We would advise investors to use the rally in the markets to restructure their portfolio and exit stocks that have balance-sheet or corporate governance issues, suggest experts.
Representative image (PC- MoneyControl.Com)
The blockbuster Budget 2021 not just brought a bonanza for the economy but for investors as well. Investors’ wealth, in terms of the market-capitalisation of the BSE-listed companies, rose by more than Rs 11 lakh crore since January 29, 2021.
Both Sensex and Nifty50 have rallied by more than 10 percent each since Budget to touch a lifetime high of 51,514, and 15,153, respectively, on February 8.
DAILY VOICE | L&T, KNR Construction among top picks post Budget 2021, says Gaurav Dua of Sharekhan
From a retail investor’s perspective, the major learning is that it is important to stay invested in a bull market rather than try to time the markets, says Dua. February 09, 2021 / 07:58 AM IST
Gaurav Dua, SVP – Head Capital Market Strategy & Investments at Sharekhan by BNP Paribas, is of the view that the major beneficiaries after the Union Budget will be sectors such as cement (UltraTech Cements, Shree Cement, JK Lakshmi etc.), construction & engineering, (L&T, KNR Construction, Ashok Buildcon, PNC Infra), public sector enterprise (SBI, BOB, Power Grid) among others
After The Bell: Market snaps 6-day rally; what should investors do on Wednesday?
For the next few trading session, 15,250/51,800 would be the key resistance level; trading below the same, we can expect intraday correction up to 15,000-14,950/51,000-50,500. February 09, 2021 / 06:46 PM IST
Indian market snapped a 6-day winning streak and closed flat after hitting a record high on February 9. The S&P BSE Sensex touched a record high of 51,835 while the Nifty50 touched a high of 15,257 during the day.
Let’s look at the final tally on D-Street – the S&P BSE Sensex fell 19 points to 51,329 while the Nifty50 closed 6.5 points lower at 15,109.