Wall street stocks rallied as the CBOE VIX cooled off more than 20 percent so far this month along with the India VIX declining 8 percent during the same time.
The Nifty declined over 250 points to close below 14000 for the first time so far this year. The 50-stock index has now corrected over 5 percent from its all-time high.
Investors wealthier by Rs 44 lakh crore, FIIs have poured in Rs 1.9 lakh crore since January 2020
Almost all sectors have participated in the rally, with IT and pharma leading the charge with 69 percent and 58 percent gains since January 2020. Sunil Shankar Matkar January 23, 2021 / 11:49 AM IST
The year 2020 was one for history books as the Indian market not only recouped all its losses seen in February-March but also carried forward the gains into the new year to hit a fresh record high in January 2021. The market has nearly doubled from the low of March 24.
The BSE Sensex, which has rallied more than 20 percent since January 2020, crossed a new milestone when it went past the 50,000-mark on January 21, 2021.
Nifty Bank snapped 4-day gain, closed almost 300 points off day’s high
Nifty Midcap snapped 8-day gaining streak
Mumbai: The Nifty hit an all-time high after rallying as much as 150 points and closed near the highest point of the day led by IT stocks along with HDFC & HDFC Bank. The Nifty Bank snapped its 4 day gaining streak and ended almost 300 points off the day’s high. The bank index futures traded with identical open and high levels.
The Nifty Midcap snapped its 8 day gaining streak and made a bearish engulfing pattern on the daily chart.
Among other sector highlights – Nifty Media snapped its 8 day gaining streak, Nifty PSU Bank & Metal declined 2nd day in a row, Nifty IT gained over 3 percent in each of the last 2 days, Nifty Auto gained over 2 percent in each of the last 2 days, Nifty Pharma gained over 1 percent in each of the last 2 days while Nifty FMCG posted its best day since 23 December last year.
Updated Dec 31, 2020 | 10:52 IST
Nifty is set to gain over 5 percent in each of the last 3 series. The Nifty IT is set to gain for 7 series in a row. Representational image
Mumbai: The Nifty came within striking distance of 14,000 on the penultimate trading day of the current calendar year. The 50-stock index recovered more than 100 points from the day’s low. The Nifty Bank snapped its 5 day gaining streak to close flat with negative bias. It is also on track to snap its 4 year gaining streak. Both benchmark indices are on track to gain for a 3rd F&O series in a row. In fact, Nifty is set to gain over 5 percent in each of the last 3 series. The Nifty IT is set to gain for 7 series in a row.