Share Market Highlights: Sensex jumps 307 pts, closes near all-time high, Nifty ends above 14,100; ONGC surges 4%

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Updated: January 4, 2021 4:15:30 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Broader markets outperformed benchmark indices on Monday. All sectoral indices except Nifty Bank and Nifty Private Bank ended with gains.

Share Market Today, Share Market Live, SGX Nifty, Nifty, Nifty crashAll sectoral indices except Nifty Bank and Nifty private bank closed with gains.

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity benchmark indices ended with gains on Monday. S&P BSE Sensex jumped 307 points to close at 48,176 while Nifty 50 closed above 14,100 for the first time. Broader markets outperformed benchmark indices on Monday. Nifty smallcap 50 was up 1.46% while Nifty midcap 50 was up 2.02%. ONGC, TCS, and HCL Technologies were the top Sensex gainers. Almost all sectoral indices closed with gains, except Nifty Bank and Nifty Private Bank index. Volatility inched 2.3% higher. 

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Highlights

    15:34 (IST)04 Jan 2021
    Closing Bell

    S&P BSE Sensex closed 307 points higher, just shy of 48,200 mark. Nifty closed above 14,100 for the first time ever. 

    15:22 (IST)04 Jan 2021
    Top Sensex gainers

    Among top Sensex gainers just ahead of closing are ONGC, TCS, and HCL Technologies -- all surging over 3% each. These were followed by Tech Mahindra, Infosys, and Mahindra & Mahindra.

    15:15 (IST)04 Jan 2021
    Broader markets outperform

    Just ahead of the closing bell small and midcap indices were outperforming the benchmarks Sensex and Nifty. Nifty Midcap 50 was up 2% while Nifty Smallcap 50 jumped 1.5%. BSE midcap index was up 1.4% while the Smallcap index gained 1.3%. 

    15:04 (IST)04 Jan 2021
    Sensex up nearly 300 points, Nifty well above 14,100

    Sensex breached its all-time high again on Monday while Nifty solidified its position above 14,100 just minutes ahead of the closing bell on Monday.

    14:59 (IST)04 Jan 2021
    How domestic AC manufacturing can help India and what more could be done to expedite it

    Indian consumers will purchase over 150 million room ACs over the next 10 years, representing a conservative retail value of approximately 5,10,000 crore Indian Rupees. 

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    14:53 (IST)04 Jan 2021
    Union Budget 2021: A recap of changes to Dividend Distribution Tax; share buyback moves into focus

    Indian Union Budget 2021-22: Finance Minister Nirmala Sitharaman, last year in her budget presentation 2020, announced the decision to abolish the Dividend Distribution Tax (DDT), while making dividend payment taxable at the hand of the recipient. The move was among the most talked-about decisions of the government at the beginning of 2020. Although this helped the cash-starved India Inc save some and increase cash-flow, for investors this meant more taxes. This was also trouble for promoters with high shareholdings, as a higher dividend would result in them paying more as taxes.

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    14:37 (IST)04 Jan 2021
    Sensex, Nifty hit fresh highs

    Sensex reached a fresh all-time high of 48,168 on Monday as the benchmark indices surged from intra-day lows. Nifty reached a high od 14,118. 

    14:22 (IST)04 Jan 2021
    "Growth and Quality" are likely to be themes for 2021

    Today, the Indian market tested a fresh high of 48,000 at Sensex, amidst a positive development on the vaccination front. Overall, the investor sentiments have been lifted after the emergency approval given by DCGI on two Coronavirus vaccines: Covishield & Covaxin. A strong December closing has laid the platform for a solid 2021. We continue to believe that 2021 will be the year of mid and small caps. 2021 is likely to outperform, similar to 2020 . Our core themes - digital, telecom, pharma, rural, staples and consumer discretionary, continue to remain relevant in 2021. Pharma & IT were the top performing sectors of 2020, while Banks were negative. Automobiles and metals delivered positive returns in 2020 after a challenging 2019. We believe that 'Growth and Quality' are likely to be the themes for 2021. The focus will be on the BFSI sector and management commentary on the stress challenges. Apart from the Q3 earnings, the Union Budget will be an important event: Naveen Kulkarni, Chief Investment Officer, Axis Securities

    14:03 (IST)04 Jan 2021
    Top stocks to buy: Axis Bank, Dr Reddy’s among 5 stocks that may rally 22% in new year 2021

    Continuing the gaining streak, Indian share markets are trading at record high levels. In today’s session, BSE Sensex crossed the crucial 48,150 level, while the broader Nifty 50 index was ruling above 14,100. Research and brokerage firm SBICap Securities said that the world has witnessed a new challenge with an outbreak of Covid-19 pandemic at the outset of the year 2020. Last year, economic activities were brought to a complete halt and economies shrunk in negative. On the market outlook in the New Year 2021, the brokerage firm expects the momentum to be maintained given the ultra-loose monetary policies of global central bankers.

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    13:21 (IST)04 Jan 2021
    Sensex back above 48,000

    Sensex surged back to surge above 48,000 while Nifty reclaimed 14,050 during the day's trading session. 

    13:09 (IST)04 Jan 2021
    TCS, Wipro, Infosys hit 52-week high ahead of earnings; analysts expect revenue growth to continue

    With the earnings season knocking on the door now, Information Technology (IT) firms are back in focus with renewed optimism around business growth. Analysts expect management commentaries to add to the positive outlook for the sector. “Recent commentary from both large- and mid-cap IT Services companies during their annual investor meets point to continued optimism on their calendar year 2021 growth outlook, even after adjusting for a low base YoY,” said brokerage and research firm Motilal Oswal in a note. The BSE IT index was up 1.6% on Monday as the TCS, Tech Mahindra, Infosys, and Wipro hit 52-week highs.

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    12:32 (IST)04 Jan 2021
    Nifty Pharma in focus

    'We expect pharma to continue its bull run in 2021, we expect export business to do much better than domestic business as Product link incentive (PLI) scheme to boost the export with in next 2-3 years, Indian pharma company to get some benefit of anti-china sentiments after covid, along with this healthy pipeline of approved ANDA from USFDA. We continue to be bullish on the pharma sector and expect it to do well in 2021," said Yash Gupta Equity Research Associate, Angel Broking.

    11:50 (IST)04 Jan 2021
    Facebook, Amazon, Tesla stocks outperformed NASDAQ in last week of 2020, Apple shares tumbled

    The holiday-shortened previous week was a mixed bag for big tech stocks on Wall Street as some recorded gains while some slipped to close the week in the red. The big tech names such as Facebook, Apple, Google, Tesla, among others enjoyed a phenomenal 2020, where the likes of Tesla gained a whopping 681% while others recorded average gains of over 50%. The up-move in technology stocks was aided by a more pleasant outlook for the firms in the wake of a pandemic as more and more people started using their services while being forced to sit at home to fight the pandemic.

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    11:42 (IST)04 Jan 2021
    Nifty may hit 15,700, Sensex seen at 52,000 in 2021; Sanjiv Bhasin tells top stocks to buy | IIFL INTERVIEW

    Indian share markets are ruling at record high levels on the back of newsflow related to COVID-19 vaccine rollout. Sanjiv Bhasin, Director at IIFL Securities Ltd, said that investors must stay invested as BSE Sensex and Nifty 50 have been hitting record levels almost every other day. In an interview with Surbhi Jain of Financial Express Online, Sanjiv Bhasin said that he is overweight on cement, pharmaceuticals and construction sectors stocks.

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    11:39 (IST)04 Jan 2021
    Gold may trade with bullish bias this week; rising covid-19 cases keeps risk premium high

    Commodity prices traded mixed last week with most of the commodities in Non-Agri segment kept narrow trading range on New Year holidays. Bullion prices traded firm on a weaker dollar as the dollar index ended down by 0.43 per cent to below 90 mark for the week.

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    11:13 (IST)04 Jan 2021
    Reliance knocks on court’s door to stop vandalism of towers; says, RIL not into contract farming

    Mukesh Ambani-led Reliance Industries Limited through its subsidiary Reliance Jio Infocomm Limited (RJIL), has today filed a petition in the Punjab and Haryana High Court seeking the urgent intervention of Government authorities in curbing the vandalism of its towers and other communication infrastructure. In a statement, RIL said that it has nothing to do with the three farm laws currently being debated in the country, and in no way benefits from them. During the last few days, properties of Reliance have been vandalised by protesters in the state of Punjab and Haryana to register their protest against the three new farm laws.

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    11:09 (IST)04 Jan 2021
    Rupee respected 73 levels for past couple of months

    Optimism on back of vaccine programs and consistent foreign fund inflows amid dollar uncertainty has its drive for rupee momentum on one side, while RBI tolerance for the appreciation in INR on other side. So far, the pair has respected 73.00 levels for past couple of months due to RBI’s active intervention. If RBI gets lenient as the past week, rupee shall move close to 72.75 levels that were last seen in September. However, the strength seems to be short lived considering the widening fiscal deficit and expectations of a growth centric budget that would further aggravate the risk of fiscal slippage for the upcoming year: Amit Pabari, managing director, CR Forex Advisors

    10:53 (IST)04 Jan 2021
    Gold prices surge today as yellow metal hit 8-week high internationally; silver jumps over 2%

    Gold prices in India jumped over one per cent on Monday, taking cues from the international prices where yellow metal hit eight-week high. Globally, gold prices were supported by weak dollar and concerns about a surge in COVID-19 cases which forced many countries for tighter restrictions despite vaccine rollout. On MCX, gold February futures were trading Rs 556 or 1.11 per cent higher at Rs 50,800 per 10 gram. While silver March futures were ruling at Rs 69,520 per kg, up Rs 1,397 or 2.05 per cent.

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    10:18 (IST)04 Jan 2021
    Have not done any “corporate” or “contract” farming in the past, and have absolutely no plans, says RIL

    India's largest private sector firm, Reliance Industries Limited on Monday said that Reliance Retail Limited (RRL), Reliance Jio Infocomm Limited (RJIL), or any other affiliate of our parent company, i.e., Reliance Industries Limited have not done any “corporate” or “contract” farming in the past, and have absolutely no plans to enter this business.

    10:05 (IST)04 Jan 2021
    14,100 acting as resistance

    "14100 can pose a resistance for the Nifty. Traders should consider booking profits at the current juncture and trail thereafter. We have a good support at 13900 and if we close below this level, there could be a correction. Hence it is advised to be cautiously long with strict stops," said Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.

    10:05 (IST)04 Jan 2021
    Dollar could recoup some of its recent losses

    The major data to focus on this week would be the FOMC minutes late Wednesday and US December NFP data on Friday. Georgia Senate runoffs will also be closely tracked. The race is too close to call and if Democrats manage to win both, the president, House and Senate would all be Democrat which would be negative for the Dollar. If on the other hand, Republicans win even one runoff, they would retain control of the Senate. The Dollar could recoup some of its recent losses in this case: Abhishek Goenka, Founder and CEO, IFA Global

    10:03 (IST)04 Jan 2021
    Traders should consider booking profits at the current juncture

    14100 can pose a resistance for the Nifty. Traders should consider booking profits at the current juncture and trail thereafter. We have a good support at 13900 and if we close below this level, there could be a correction. Hence it is advised to be cautiously long with strict stops: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    09:47 (IST)04 Jan 2021
    On tape, US President badgers Georgia official to 'find' Trump votes to overturn Joe Biden's win

    President Donald Trump badgered and pleaded with Georgia’s election chief to overturn Joe Biden’s win in the state, suggesting in a telephone call that the official “find” enough votes to hand Trump the victory. The conversation on Saturday was the latest step in an unprecedented effort by a sitting president to pressure a state official to reverse the outcome of a free and fair election that he lost.

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    09:36 (IST)04 Jan 2021
    What's keeping Dalal Street merry?

    "Positive economic data like all-time record GST collections (Rs 1.15 lakh crores) and impressive auto numbers particularly in crucial segments like HCVs & MCVs in December augur well for the markets. The low-interest-rate has become a major tailwind for the economy. Indian economy can grow by above 10 % in FY 22. This means around 16 % increase in nominal GDP and impressive growth in corporate profits. Low-interest rate regime in the developed world and the declining dollar are positives for capital inflows into EMs like India. The risk is something triggering capital outflows which can cause a sharp correction in markets," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

    09:33 (IST)04 Jan 2021
    ETF inflows show pick up in investor buying

    COMEX gold has gained over 1% to trade near $1920/oz after a 0.1% gain in the previous session. Gold trades higher supported by weaker US dollar, US stimulus measures, increased US-China tensions and rising virus cases and more restrictions being imposed to limit the spread. ETF inflows also show pick up in investor buying however the pace was modest. Gold has witnessed a gap up opening after last week's gain indicating upward momentum however there are no fresh triggers while we are yet to see a close above $1900/oz: Ravindra Rao, VP- Head Commodity Research at Kotak Securities

    09:19 (IST)04 Jan 2021
    Top gainers

    IndusInd Bank, Sun Pharma, and ONGC were the top gainers on S&P BSE Sensex on Monday morning. Only IndusInd Bank shares were up over 1%. 

    09:18 (IST)04 Jan 2021
    Opening Bell

    Sensex started the day's trade above 48,000 -- setting fresh all-time highs on the opening bell while Nifty 50 breached the 14,100 levels for the first time in history.

    09:06 (IST)04 Jan 2021
    Sensex gains over 200 points

    S&P BSE Sensex was up over 200 points during the pre-open session while the 50-stock NSE Nifty sat just shy of 14,100.

    09:02 (IST)04 Jan 2021
    Sensex, Nifty gain in pre-open

    Sensex moved past 48,000 during Monday's pre-open session while the Nifty 50 index crossed 14,100.

    08:51 (IST)04 Jan 2021
    Sensex, Nifty may continue to surge higher; top things to know before market opens on Monday

    Nifty futures were trading 146.80 points or 1.05 per cent higher at 14,116.80 on Singaporean Exchange on Monday. BSE Sensex and Nifty 50 are likely to make new record high levels in today’s session. Bulls are expected to cheer the approval of COVID-19 vaccines by Indian drug controller DGCI for emergency use in India. In the previous session, the S&P BSE Sensex rose 117.65 points to end at 47,868.98 while the broader Nifty50 gained 36.70 points to settle at 14,018.50. Asian stock markets were seen trading mixed in the early trade on Monday.

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    08:33 (IST)04 Jan 2021
    Call, Put data for January series

    For the January series, maximum Call Open Interest (OI) is placed at 14,000 strike with 21 lakh contracts, followed by 14,500 strike with 12.23 lakh contracts. Put OI is the most at 13,000 strike with 26.93 lakh contracts. 

    08:28 (IST)04 Jan 2021
    FII and DII activity so far this year

    Foreign Institutional Investors (FII) have bought domestic securities worth Rs 506 crore so far in 2021. Even Domestic Institutional Investors were buyers of domestic stock, pumping in R 69.40 crore so far.

    08:17 (IST)04 Jan 2021
    Stocks in focus: Reliance Industries, Antony Waste Handling, BEML, Adani Green, RCF

    RIL: Sebi imposed penalties on RIL, its Chairman and Managing Director Mukesh Ambani as well as two other entities for alleged manipulative trading in the shares of erstwhile RPL back in November 2007.Edelweiss Finvest sold 2.51 lakh equity shares of the newly listed Antony Waste Handling Cell at Rs 439.7 per share.

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    08:10 (IST)04 Jan 2021
    Earnings season kicks-off

    This week will mark the beginning of the earnings season with tier-1 information technology firms gearing up to post their quarterly results. 

    08:02 (IST)04 Jan 2021
    Global markets off to a flying start on vaccine optimism

    "Investors wasted little time getting their New Year mojo on and are flying right out of gates this morning amid optimism that widespread vaccine distribution will provide the ultimate economic kick-start offering a massive booster shot to corporate profits," said Stephen Innes, Chief Global Market Strategist at Axi. "Despite these problematic headwinds, investors think the vaccine narrative has such a long economic runway that stock prices cannot have fully reflected it all this far in advance. As people get vaccinated, they are likely to return to those activities most impacted by Covid-19 such as dining out, travelling and other personal service-related areas," he added.

    08:00 (IST)04 Jan 2021
    SGX Nifty inches higher

    On Monday morning SGX Nifty was inching higher, gaining 77 points. The up-move hinted at a gap-up start for domestic stock markets. 

    07:59 (IST)04 Jan 2021
    Covid-19: Serum Institute says to meet local demand for Oxford vaccine for next 2 months, before exporting

    Serum Institute of India (SII), the local maker of the AstraZeneca/Oxford coronavirus vaccine, said on Sunday it intends to concentrate on meeting India’s own immediate demand in the next two months before exporting to other interested countries. Chief Executive Adar Poonawalla said in an interview after the shot was approved for emergency use in the world’s second-most populous country, that exports might be possible after supplying the Indian government with an initial 100 million doses.

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