D-Street investors get richer by Rs 2.46 lakh crore as Sensex ends at record closing high
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D-Street investors get richer by Rs 2.46 lakh crore as Sensex ends at record closing highBy
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The 30-share pack Sensex advanced 689.19 points or 1.43 per cent to 48,782.51. The index saw the biggest streak of weekly gains since 2009. Its broader peer, NSE Nifty climbed 209.90 points or 1.48 per cent to 13,347.25.
Investors got richer by Rs 2.46 lakh crore as the total market cap of BSE-listed firms climbed to 195.64 lakh crore.
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NEW DELHI: Benchmark indices ended Friday on a record high, driven by buying in auto and IT, and buoyed by better than expected GDP estimate and market buzz of higher foreign investment due to MSCI indices readjustment.
Small & midcaps outperform in last week of 2020; 30 stocks in BSE500 rose 10-30%
Final approval for the stimulus package from the Republicans in the US and the continued weakness in the dollar index has helped the market move upward, suggest experts.
Representative Image (Image: Pixabay)
Indian market zoomed past crucial resistance levels in the last week of the year 2020 where the Nifty50 climbed Mount 14K while the S&P BSE Sensex inched closer towards 48,000.
The benchmark indices closed with gains of about 2 percent but a large part of the action was seen in the small & midcap space.
The S&P BSE Sensex rose 1.91 percent while the Nifty50 closed with gains of 1.96 percent for the week ended 1 January 2021 compared with 2.7 percent rise seen in the S&P BSE Midcap index, and 3.3 percent rally recorded in the S&P BSE Smallcap index in the same period.
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NEW DELHI: Nifty breached the 13,900 levels and touched its lifetime on Tuesday forming an indecisive candle on the daily chart as the index settled higher, riding the rally in bank and IT stocks amid strong global cues. The index continued its rally to the fifth consecutive session.
Aditya Agarwala, senior technical analyst - institutional equities, YES Securities said A sustained trade above 13,950-13,975 will extend the gains, taking the 50-pack higher to the levels of 14,050-14,150, which happens to be the upper end of a crucial rising channel formed, joining major highs and lows post the March selloff. He sees support for the index at 13,850.
Technical stock picks for 2021: Buy these 7 shares; charts signal as high as 30% rally next year financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.