Market HIGHLIGHTS: Sensex ends at record closing high, Nifty above 13,950 on F&O expiry day; HDFC, ICICI Bank lead

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended flat on Thursday.

Market HIGHLIGHTS: Sensex ends at record closing high, Nifty above 13,950 on F&O expiry day; HDFC, ICICI Bank lead
According to the analysts, Indian share market is overvalued from the short- term perspective while at high levels, it is vulnerable to a correction.

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended flat on the last day of the calendar year 2020. BSE Sensex ended at record closing high of 47,751, while the broader Nifty 50 index settled at 13,981.75 following a volatile session. Out of 30 Sensex stocks, 11 scrips settled in the positive territory while 19 scrips ended the session in the red. Sun Pharma, Housing Development Finance Corporation (HDFC), ICICI Bank, Infosys, among others, were the top Sensex gainers. On the flip side, TCS, UltraTech Cement, Bharti Airtel, Kotak Mahindra Bank, Tech Mahindra and State Bank of India (SBI) were the top index laggards in today’s session. The trend among the sectoral indices was mixed. Nifty Realty index was the top performer while Nifty PSU Bank and Nifty FMCG indices were down half a per cent.

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15:43 (IST)31 Dec 2020
Nifty may be headed higher to 14100-14150 sooner than later

We were successful in claiming the 14000 mark but closed below it. There might be a psychological resistance at this level. However, the trend remains bullish and we should be headed higher to 14100-14150 sooner than later. The current support is at 13500-13600 and since the risk reward is skewed at this juncture, a buy on dips strategy is advised with strict trailing stops: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

15:40 (IST)31 Dec 2020
Sensex clocks record closing high yet again

Sensex ends at record closing high of 47,751, while the broader Nifty 50 index settled at 13,981.75 on the last day of the calendar year 2020.

14:29 (IST)31 Dec 2020
Top stocks to buy in 2021: HCL Tech, Divi’s Labs among 7 stocks that may rally up to 28% in new year

Indian share markets staged a smart recovery in the calendar year 2020, rallying around 84 per cent from the March lows. In today’s session, BSE Sensex and Nifty 50 hit their respective record high levels of 47865.56 and 14,010.15, respectively. On a year-to-date (YTD) basis, headline indices have delivered 15 per cent returns. According to analysts at ICICI Direct Research, the resilient domestic setup points towards a recovery in key macroeconomic data viz. GDP, Infrastructure spending post a weak year.

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14:10 (IST)31 Dec 2020
Silver may again shine in 2021, test Rs 80,000

This year 2020 silver gave the highest return almost 45% on MCX and in physical Market. In this year we observed that silver was most lucrative for investors to invest in silver as Gold became expensive and General public could not effort silver. After the month of June 2020 silver movement started and it touched the lifetime high and breached the previous lifetime high. We are very optimistic on silver in year 2021. We are targetting $35 to $40 levels in silver in the year 2020. On the domestic market we are targetting 75000 to 80000 levels in silver. Expecting silver may more shine than gold in year 2021. Industrial metals will give more momentum in year 2021 in which silver and copper are on top in industrial metals list.: Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking Ltd

13:47 (IST)31 Dec 2020
Start-ups, co-working, data centres may lead demand

Commercial real estate, office space agreement terms are long-term in nature and a few quarters of disruption cannot lead affect it in a big way. Work from home can only be a transient phase at best, face-to-face meetings with clients, interaction amongst employees cannot be replaced by virtual means for a long time. Till now the key occupiers of office space were IT, BFSI, and Manufacturing, we expect start-ups, co-working, and data centres to lead demand going forward.: Krish Raveshia, CEO, Azlo Realty

13:46 (IST)31 Dec 2020
2021 will see emergence of many prominent commercial micro markets

The new year 2021 will see the emergence of many prominent commercial micro markets, satellite offices as the existing CBDs get overcrowded and costly. The focus will be to deliver an exponential experience to tenants with wellness at the forefront. With economic activity picking up, we expect prices to firm up in the next few quarters, a rise in rental yield. The government’s call to businesses to set up facilities in India, offering PLI schemes to help become a self-reliant economy will provide a boost to the economy, lead to investment flowing in from overseas. If the year 2020 was about recovery, 2021 will be all about growth.: Krish Raveshia, CEO, Azlo Realty

13:27 (IST)31 Dec 2020
If global trend of USD remains downward, then USDINR can decline to 70 in 2021

2020 has been a year where RBI played an extremely important role of keeping volatility in check. They sold aggressively when USD rose in value during Covid panic of March-April. Then they bought close 100 billion dollars, to prevent Rupee from appreciating, when inflows gushed to Indian capital markets. During 2021, if the global trend of USD remains downward, then USDINR can decline towards 70.00 levels.: Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives, Kotak Securities

13:17 (IST)31 Dec 2020
Top Sensex gainers

HDFC, ICICI Bank, Maruti are the top gainers on Sensex at this hour. Sensex is trading flat with a positive bias while Nifty 50 is just below 14,000. 

13:05 (IST)31 Dec 2020
Stock markets in 2020: Multi-year lows to all-time highs, D-Street saw it all in a broad-based rally

The last trading session of 2020 witnessed both the benchmark indices scale fresh all-time highs, yet again. Reflecting back on 2020, the year has been a tumultuous one, with Dalal Street standing witness to a year where Sensex and Nifty tanked disastrously in March and then not only recovered all losses but even surpassed their previous record highs. For investors, Sensex and Nifty have gained for the fifth and fourth year, respectively. Sensex is up 15.69% year-to-date while the 50-stock NSE Nifty is up 14.8%. However, unlike the previous year, 2020 has seen a broad-based rally instead of a selective one, with midcap and smallcap indices too joining the party.

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11:54 (IST)31 Dec 2020
Going further, rupee strength shall be limited to 72.80-73.00 inline with RBI’s tolerance

So far, the FII and FPI inflows in the country have remained robust and the country has witnessed nearly $20.56 bn inflows in past 3 months which has remained a major supporting factor for rupee and created appreciatory pressure for the pair. However, since ample of foreign investment has already hit the market in the past 3 months, going further, this might get subdued and hence the strength in rupee shall also be limited to 72.80-73.00 levels in line with RBI’s tolerance. Overall, the pair has maintained its comfortable range of 73.00-74.00 levels so far, therefore one can buy on dips near 73.00-73.30 and sell on upticks between 73.70-74.00 levels in the near term: Amit Pabari, managing director, CR Forex Advisors

11:45 (IST)31 Dec 2020
Gold prices rally 28% so far this year; yellow metal likely to touch Rs 65,000 per 10 gm in 2021

Gold prices in India rallied 28 per cent in rupee terms so far in the year 2020, following a double-digit gain in the previous year. During March this year, yellow metal hit a 52-week low of Rs 38,400 per 10 grams from the level of Rs 39,100 per 10 gm at the start of the year. However, surging a massive 46.33 per cent, it scaled an all-time high of Rs 56,191 per 10 gm in August.

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11:20 (IST)31 Dec 2020
Indian rupee may test 76.00-76.50 levels in 2021

The continued portfolio inflows, weakness in the dollar index, accommodative monetary policy stance of the US Fed and reviving domestic economy is expected to favor strength in rupee for the short term. Nonetheless, economy is still facing lot of challenges and getting back to previous growth from the pandemic’s deep abyss seems tough. Even domestic equities look quite stretched, where there can be some consolidation which can eventually lead to a downwards drift in the rupee from a long term perspective. Additionally risks of rise in crude oil prices and concerns about vaccine rollout to the masses could be negative for the rupee-dollar equation. Considering the backdrop, we envisage the domestic currency to test levels of around 76.00-76.50 mark in 2021.Sugandha Sachdeva VP-Metals, Energy & Currency Research, Religare Broking Ltd

11:18 (IST)31 Dec 2020
Indian rupee remained largely stable in the current quarter

The liquidity boosts, huge money printing drive and low-interest rate environment pushed the dollar index to a two and half year lows towards the end of 2020. Drawing strength from the decline in the international currency as well as strong Covid relief response in the economy and healthy forex reserves, rupee has erased nearly 50 percent of its yearly losses, and is about to close lower by around 2.5 per cent for 2020. Moreover, as the domestic equities scaled to record highs amid strong inflows and unprecedented liquidity infusion, rupee has remained largely stable in the current quarter.: Sugandha Sachdeva VP-Metals, Energy & Currency Research, Religare Broking Ltd

11:17 (IST)31 Dec 2020
Year 2020 was beset with volatile swings for the financial markets

The year 2020 was beset with volatile swings for the financial markets space where the rupee depreciated to an all-time low of 76.98 mark in April 2020, as the coronavirus pandemic engulfed the global economy. The rush towards the safety of the dollar, significant outflows and decline in domestic equities to multi-year lows further dented the sentiments. However, soon various central banks and governments across the globe came to the rescue and slashed interest rates to record lows, and rolled out massive stimulus packages. This changed the entire landscape for the greenback and the global as well as domestic equities.: Sugandha Sachdeva VP-Metals, Energy & Currency Research, Religare Broking Ltd

10:45 (IST)31 Dec 2020
Nifty tops 14,000, scales fresh record high on F&O expiry day; may soon test 14,150

NSE Nifty made a new record and breached the 14,000-point milestone today, with the Indian share markets trading higher on the last day of the calendar year 2020. BSE Sensex was trading at its record high level of 47860.3, while the broader Nifty 50 index hit 14,009 points. In the opening deals today, Nifty was just shy of 14,000, and hit a fresh high of 13,997.85 level.

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10:38 (IST)31 Dec 2020
Sensex, Nifty scales fresh record highs

The broader Nifty 50 hit the crucial 14,000 levels in today’s volatile session. While Sensex too hit an all-time high on monthly expiry day. 

10:15 (IST)31 Dec 2020
Time to buy large-cap US bank stocks? Vaccination, loan growth, other factors to aid growth

As the path of economic recovery increasingly looks clearer, analysts are finding buying opportunity in banking shares across the globe. Lenders are expected to benefit with the reopening of the economy as vaccination drive picks up pace in various countries. Global activity is expected to have risen back to pre-covid levels in the fourth quarter of this year and economic growth is forecasted to return to normal in the next few quarters. “We see long end rates rising, loan growth holding up, and banks deploying excess capital and excess reserves accreted through the crisis,” said analysts at global brokerage and research firm Morgan Stanley.

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10:03 (IST)31 Dec 2020
Nifty is trading very close to 14000 level

The Nifty is trading very close to the 14000 level – if it can sustain above this on a closing basis, we should anticipate it to go up further to levels closer to 14100-14150. The overall market remains bullish with a good support at the 13550-13600 zone. Traders must trail positions with strict stop losses: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

09:56 (IST)31 Dec 2020
Buy these two stocks for near term gains as equity indices look set to jump further

Markets have bounced back strongly after the sharp selloff seen last Monday. The Nifty index made a long-legged Doji candlestick bullish reversal pattern on the weekly chart last week. This indicates that the bulls have overpowered the bears as the markets had recovered most of the losses seen during the early part of last week. This week too the Nifty has continued to surge higher to new life highs.

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09:42 (IST)31 Dec 2020
As we welcome in 2021, it is hard to predict how the market will behave in 2021

As 2020 draws to a close, the Nifty, Nifty Midcap 100 and Nifty Smallcap 100 are up 14.9%, 21.4% and 21.9 % respectively for the year. More importantly, the Nifty is up 83% from the March lows. This is a spectacular rally. As we welcome in 2021, it is hard to predict how the market will behave in 2021. The twists & turns in the pandemic, the vaccine, recovery in growth & earnings, the coming budget, monetary policy, the monetary stance of the Fed…. all will influence and impact the market. Investors may partially book some profit but remain invested in high-quality names, particularly in private sector banking, IT, telecom, pharma & consumer goods. An undesirable recent trend is a slight decline in SIPs. In a market like this, it is important to continue with SIPs: V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

09:34 (IST)31 Dec 2020
Nifty Realty index up nearly 1%

Barring Nifty FMCG and Nifty IT indices, all the sectoral indices were trading in the positive territory. Nifty Realty index was up nearly one per cent, followed by Nifty Metal index which gained half a per cent.

09:28 (IST)31 Dec 2020
IT stocks top Sensex draggers

Out of 30 Sensex stocks, 14 scrips were trading in the red, led by State Bank of India (SBI). The other laggards on the pack were Nestle India, UltraTech Cement, TCS, NTPC, Tech Mahindra, Infosys, HUL, Kotak Mahindra Bank.

09:26 (IST)31 Dec 2020
ONGC top BSE Sensex gainer

Top Sensex gainers were ONGC, Bajaj Finance, Titan Company, Dr Reddy’s Lab, Reliance Industries Ltd (RIL), Bajaj Finsv and ICICI Bank.

09:23 (IST)31 Dec 2020
Sensex, Nifty trade flat on expiry day

Indices were trading flat on the day of expiry of December series derivative contracts. BSE Sensex was trading flat, while the broader Nifty 50 index was hovering around 13,980.

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09:20 (IST)31 Dec 2020
We could see the Nifty record 7th straight session of gains

Asian currencies are stronger against the USD. The Yuan is the strongest since mid-2018. China Manufacturing PMI came in line with estimates. The Dollar index continues to slide lower and is at the lowest level since April 2018. We expect the Rupee to open around 73.20 and trade a 73.05-73.40 range. Asian equities are trading with a positive bias. The Nifty has gained for six straight sessions. Today is the December F&O expiry and we could see the Nifty record a seventh straight session of gains: Abhishek Goenka Founder and CEO IFA Global

09:10 (IST)31 Dec 2020
Sensex, Nifty trade flat on expiry day

Indices were trading flat in the pre-opening session on Thursday. BSE Sensex was up just 5 points, while the broader Nifty 50 index was down 12 points.

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08:58 (IST)31 Dec 2020
Nifty likely to see new life highs in the coming sessions

The short term trend remains up. The intermediate uptrend too is still intact and we are likely to see new life highs in the coming sessions. It is important that the supports of 13864-13842 are not broken for the uptrend to sustain: Subash Gangadharan, Technical and Derivative Analyst, HDFC Securities

08:56 (IST)31 Dec 2020
Stocks in focus: Chemcon Speciality, Yes Bank, Tata Steel, Adani Green Energy, Vedanta, PNB

Chemcon Speciality: Plutus Wealth Management LLP bought shares of Chemcon Speciality Chemicals through a bulk deal.
Yes Bank: Yes Bank on Wednesday elevated two key senior management personnel to head the finance and human resources functions.

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08:19 (IST)31 Dec 2020
Call and Put OI data

For the December series, maximum Call Open Interest (OI) is placed at 14,000 strike with 52.13 lakh contracts. This is followed by 14,100 strike with 40.84 lakh contracts. Put OI is the most at 13,000 strike with 44.02 lakh contracts.

08:16 (IST)31 Dec 2020
Sensex, Nifty up 15% year-to-date; will indices extend gains in last trading session of 2020?

Domestic equity markets rose for the sixth day straight on Wednesday to end the trading session at their highest ever closing levels yet again. S&P BSE Sensex now sits at 47,746 while the 50-stock NSE Nifty is just shy of the 14,000 mark. Today, the last trading session of the year that saw Dalal Street tumble disastrously in March and then recover all losses in a multi-month rally also happens to be the last expiry of the year.

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08:14 (IST)31 Dec 2020
FII and DII data

On Wednesday, foreign institutional investors (FIIs) lapped up shares worth Rs 1,824.52 crore, while domestic institutional investors (DIIs) offloaded shares worth Rs 587.43 crore on a net basis in the Indian equity market, according to the provisional data available on the NSE.

08:13 (IST)31 Dec 2020
‘Indian shares could see inflows of $15-20 billion next year’

Capital flows, which have driven markets to record highs in 2020, are likely to sustain in 2021. Experts believe that Indian shares could see inflows to the tune of $15-20 billion next year that can push valuations even higher. HDFC Securities is of the view that global liquidity could keep pushing the valuations higher and as a result investors should make allocations to equities keeping in mind a sudden and sharp reversal.

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