Business & Investment

Market: Sensex surpasses 48,000 for the first time after vaccine approval

New Delhi: With metal IT stocks There was strong demand on Monday as macro and micro data encouraged the benchmark index to rise to its highest level. vaccine Approval by Indian regulators also increased risk appetite.

Record GST collection, And good steel and car sales also give a glimpse of a stellar economic recovery.In addition, the depreciation of the dollar has also led to a large flow of funds in India. stock..

“Positive economic data such as the highest GST collection ever (Rs 115,000) and impressive car numbers, especially in key segments like HCV and MCV in December, are strong for the market. Low in developed countries. Interest rates and a weaker dollar are positive for capital inflows into emerging countries like India. Risks can cause capital outflows and can lead to sharp changes in the market, “said Geojit Financial Services Chief Investment. Strategist VK Vijayakumar said.

Factors that move the market

-Vaccine approval: Over the weekend, India approved two Covid-19 vaccines manufactured by the British company AstraZeneca and homemade Barrat Biotech. India plans to launch a vaccination drive within the next two weeks.

-There are likely to be more restrictions: Global cases of coronavirus continue to grow, British Prime Minister Boris Johnson suggests tightening blockade restrictions, and Japan considers a state of emergency in the capital Tokyo and its surrounding areas.

-End of hope for relief check: The US Senate has ended the Democratic push to increase COVID-19’s financial bailout check from $ 600 to $ 2,000 after the Republican Party has blocked efforts. This is a change requested by President Donald Trump.

How about good stocks

After opening on the green, the benchmark index remained in the lead.9:53 am, BSE flagship Sensex It increased by 238 points or 0.50 percent to 48,107. Nifty in the NSE benchmark followed, rising 73 points or 0.52 percent to 14,091.

“14,100 can bring resistance to Nifty. Traders should consider booking profits at this point and then tracking them. We are providing good support at 13,900. , If it falls below this level, it may be fixed. Therefore, it is advisable to carefully lengthen it to a tight stop, “said Manish Hathiramani, Deen Dayal Investments’ exclusive index trader and technical analyst. Says.

In the 50-share pack Nifty, ONGC was the largest increase of 2.90%. Winners included Tata Motors, Hindalco, Tata Steel, Bajaj Finserv, GAIL, BPCL, Grasim Industries, Eicher Motors and TCS.

Asian Paints were the biggest loser of the pack, down 0.61%. Hero Motocorps, Reliance Industries, Titan, Bajaj Auto, Kotak Mahindra Bank and M & M were the other losers.

Wider market

Wider market The index traded in the morning with a higher profit than its headline peers. Nifty Small Caps were up 0.88% and Nifty Midcaps were up 1.15%. Nifty500, the widest index in NSE, rose 0.67%.

Vodafone Idea, Ashok Leyland, SAIL, BEML, Indiamart Intermesh and Sterlite Tech are major winners in this area, while Vakrangee, Alok Industries, CanFin Homes, Future Retail, Oberoi Realty and Syngene are under selling pressure. It was.

Global market

After the slow start, MSCI’s widest non-Japanese Asia-Pacific stock index rose 0.8%, hitting a record high. South Korea reached a record high, rising 2%, driven by the chips and automotive sectors. Meanwhile, China’s top-tier stocks increased 0.3%.

The S & P 500 E-Mini futures were also stable after hitting record highs. EUROSTOXX 50 futures were flat, but FTSE futures were up 0.4%.



Market: Sensex surpasses 48,000 for the first time after vaccine approval

https://economictimes.indiatimes.com/markets/stocks/news/sensex-hits-48000-mark-for-the-first-time-ever-after-vaccine-approvals/articleshow/80091023.cms Market: Sensex surpasses 48,000 for the first time after vaccine approval

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