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All eyes are on the BSE Sensex, as it is inching towards 50,000 mark. The SGX Nifty at 14,508 points a gap up opening of about 40 points, even as most Asian markets are trading marginally lower. However, the overnight closing of US stocks presents a positive signal.
The Sensex on Tuesday closed with a gain of 834.0 points at 49398.0 levels, just 600 points away from historical 50,000-landmark; the Nifty gained 240 points at 14521.1 levels while the Nifty futures closed at 14,470.
Going ahead, earnings and global cues would remain on the participants’ radar, said
Ajit Mishra, VP - Research, Religare Broking. Besides, we’re also seeing noticeable buzz across the sectors in run up to Budget. We feel it would be prudent for the markets to spend some time around the current levels, he added.
Will building material stocks emerge new comeback kids
Among pipe makers, Astral Poly Technik has gained 42 per cent in three months while Prince Pipes and Supreme Industries have both rallied 15 per cent.
Synopsis
Shares of building materials companies have rallied between 15 per cent and 80 per cent in the last three months. Despite this rally, many of them are considered to have re-rating or turnaround potential in the near term.
Mumbai: Suppliers of building materials such as plumbing pipe, tile, sanitaryware and MDF (medium-density fibreboard) in the organised segments are likely to outperform the market in 2021, according to analysts.
Stocks like Prince Pipe, Greenply Industries, Somany Ceramics, Astral Poly Technik, Supreme Industries, Pidilite and Kajaria Ceramics can be good picks for the New Year, they said. An impressive performance by real estate stocks in
ETMarkets Morning Podcast (ET Online) RBI says 4% inflation target ideal
07:07 Min | December 29, 2020, 9:02 AM IST
Here s a head up to some of the news we are tracking at this hour. Tune in!
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Transcript
Hi there! Welcome to ETMarkets Morning, the show about money, business and markets. I am Nandini Sanyal, and here is what we have to start your day. Building materials stocks emerge new comeback kid Future Retail urges Sebi to clear deal with RIL RBI says 4% inflation target ideal
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And there is more. But first, a quick glance at the state of the markets.. Nifty futures on the Singapore Exchange traded 33.75 points higher at 7:45 am (IST), signalling a bounce ahead on Dalal Street.