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Stellar gains! Nearly 70% PMSes outperform Nifty in 2020; 6 funds in the red
Equirus Securities Long Horizon Fund was the top gainer in 2020, rising 61.55 percent year-on-year. January 22, 2021 / 12:34 PM IST
Calendar 2020 was a year of many firsts. The market went from record highs in the opening months to multi-year lows in March and back to record highs by the end of the year.
Despite the push and pull, the bulls managed to dig in, with the Nifty rising 14.9 percent during the year. The heavy lifting by the bulls was more apparent in the broader markets, as smallcap and midcap rose 21.9 percent and 32.1 percent, respectively. The BSE 500, often considered a proxy to corporate India, surged 16.8 percent during 2020.
For the week ended January 8, Sensex jumped 1.91 percent while Nifty clocked a gain of 2.35 percent. The overall market capitalisation of BSE-listed firms has now jumped to a record Rs 195.7 lakh crore.
Small & midcaps outperform in historic week: nearly 50 stocks in BSE500 rise 10-40%
The strategy should be to buy the dip towards 14000 while on the upside big resistance could be seen near 14500-14600 levels in the coming week, suggest experts.
Image: Pixabay
It was a historic week for Indian markets where Nifty50 hit a fresh record high above 14,300 for the first time while the S&P BSE Sensex inched closer towards 49,000 but the big action was seen in the broader market which scaled fresh record highs.
The S&P BSE Sensex rose 1.9 percent while the Nifty50 closed with gains of 2.3 percent for the week ended January 8 compared to 5.3 percent seen in the S&P BSE Mid-cap index, and the S&P BSE Small-cap index rose 3.5 percent in the same period.
Sharekhan is bullish on Amber Enterprises has recommended buy rating on the stock with a target price of Rs 3170 in its research report dated January 06, 2020.