Indices log record closing peaks for 4th day; Sensex up 224 pts at 46,890
Markets today: Heavyweights like HDFC, Bajaj Finance, HDFC Bank, and Reliance ended between 0.5 per cent and 3 per cent higher on the S&P BSE Sensex
 "Photo: Kamlesh Pednekar")
Photo: Kamlesh Pednekar
Bulls remained in the driver's seat at the bourses on Thursday as investors lapped up blue-chip stocks. Heavyweights like HDFC, Bajaj Finance, HDFC Bank, and Reliance ended between 0.5 per cent and 3 per cent higher on the S&P BSE Sensex and remained the top contributors towards the index's rally.
At the index level, the benchmark S&P BSE Sensex settled at fresh closing peak of 46,890, adding 224 points or 0.48 per cent. In the intra-day deals, the index neaely kissed the 47,000-mark and hit a lifetime high of 46,992.
The broader Nifty50 index, on the other hand, surged 58 points, or 0.42 per cent, to end at 13,741 levels. It hit a record high of 13,773 during the day.
Sectoral trend remained mixed at the bourses. Nifty PSU Bank and Metal indices ended the day on the NSE in the red, down 1.4 per cent and 1.3 per cent, respectively. On the upside, Nifty Financial Services index settled as the top sectoral gainer.
Sectoral trend remained mixed at the bourses. Nifty PSU Bank and Metal indices ended the day on the NSE in the red, down 1.4 per cent and 1.3 per cent, respectively. On the upside, Nifty Financial Services index settled as the top sectoral gainer.
The broader markets, however, erased their gains and settled the day in the red. The S&P BSE MidCap index, after hitting a fresh 52-week high of 18,107, closed at 17,864, down 0.13 per cent. The S&P BSE SmallCap index, meanwhile, closed at 17,811, down 0.23 per cent.
Global markets
Asian stocks scaled record heights while the dollar plumbed two-year lows and oil prices hit their strongest since March on Thursday, as monetary support and the hope of fiscal stimulus in the United States put traders in a festive mood.
MSCI's broadest index of Asia-Pacific shares outside Japan hit record-high, and ended 0.4 per cent higher. Japan's Nikkei, meanwhile, settled 0.18 per cent to sit just shy of a 29-year peak.
In Europe, shares remained at 10-month highs as potential Covid-19 vaccine rollouts in Europe strengthened the case for a global economic recovery. Germany's DAX climbed 1 per cent to hit its highest since February, while the pan-European STOXX 600 index rose 0.5 per cent, both extending gains to a fourth straight session.
(With inputs from Reuters)
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MARKET COMMENT :: Ashis Biswas, Head of Technical Research, CapitalVia Global Research
The market witnessed some strong trend and an attempt to overcome the resistance level around the Nifty 50 Index level of 13750. While sustaining above 13750 is the key factor from a short-term perspective. We suggest Maintaining above this level market to gain momentum and to open the gate for a movement till 13990. The momentum indicators like RSI, MACD to stay positive and market breadth to improve, further strengthening the view of a short-term bullish outlook.
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Market stats :: M-cap of BSE listed firms rises to Rs 1.85 trillion
>> No of stocks that advanced today: 1,386
>> No, of stocks that declined today: 1,584
>> Stocks that remained unchanged: 177
>> No. of Securities on that hit 52Wk High/Low: 322/ 38
>> No, of stocks that declined today: 1,584
>> Stocks that remained unchanged: 177
>> No. of Securities on that hit 52Wk High/Low: 322/ 38
3:48 PM
PSBs see profit-booking; index slips 1.4% on NSE
3:47 PM
HDFC duo, RIL, Bajaj Fin top contributors towards Sensex's rally
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Sectoral trends on NSE at Close
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Sensex Heatmap at Close
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CLOSING BELL :: Indices log record closing peaks for 4th straight day
>> At the index level, the benchmark S&P BSE Sensex settled at fresh closing peak of 46,890, adding 224 points or 0.48 per cent. In the intra-day deals, the index neaely kissed the 47,000-mark and hit a lifetime high of 46,992.
>> The broader Nifty50 index, on the other hand, surged 58 points, or 0.42 per cent, to end at 13,741 levels. It hit a record high of 13,773 during the day.
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Anil Agarwal eyeing Indian disinvestment program with a $10 bn war chest
The billionaire is teaming up with London-based Centricus Asset Management Ltd. to seek investments in Indian companies offering substantial growth opportunities, according to a statement Thursday. They will look to turn around companies being sold off as part of the country’s Rs 2.1 trillion ($29 billion) divestment program. READ MORE
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NEWS ALERT :: French President Emmanuel Macron tests positive for Covid-19: Presidency
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NEWS ALERT :: Icra revises FY21 GDP forecast to -7.8%
>> Expects recession to end in Q4FY21
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Bitcoin at $22,000 | Sumit Gupta, Co-founder and CEO, CoinDCX
Bitcoin breaking above $20,000 is a milestone in a year which saw numerous ups and downs in the global economy. This is mainly due to numerous global renowned investors, institutions putting their weight behind Bitcoin. The earlier skepticism has now been replaced by wide-spread acceptance and acknowledgment of Bitcoin as a strong investment option
Bitcoin is up 200% year to date(YTD), with other top cryptocurrencies like Ethereum performing well. On fundamental level, Bitcoin’s growth is largely attributed to how it is designed and in May 2020, we witnessed third halving , a supply shock event, where the number of daily mined Bitcoin gets cut in half. In the previous 2 halvings, Bitcoin and overall crypto market cap has risen exponentially, and we are witnessing a start of similar bull trend.
Bitcoin is up 200% year to date(YTD), with other top cryptocurrencies like Ethereum performing well. On fundamental level, Bitcoin’s growth is largely attributed to how it is designed and in May 2020, we witnessed third halving , a supply shock event, where the number of daily mined Bitcoin gets cut in half. In the previous 2 halvings, Bitcoin and overall crypto market cap has risen exponentially, and we are witnessing a start of similar bull trend.
In short term (for the year 2021) the price range could be between Rs 50 lakh- Rs 1 crore owing to, the Bitcoin halving and growing global institutional demand, as mentioned earlier.
In the next year, with even greater demand from retail, institutions will lead Bitcoin to be positioned as one of the primary investment assets. In the light of mainstream acceptance and recognition of Bitcoin, the price of 1 Bitcoin can be anywhere in the range of "single digit crore" in the next 5 to 10 years
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Burger King India falls for first time in 4 days as investors book profit
Shares of Burger King India were locked in 10 per cent lower circuit limit at Rs 179.35 on the BSE on Thursday as investors booked profit. The stock fell 18 per cent from its intra-day high of Rs 219.15. READ MORE
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Renewed investor interest, huge gains push Bitcoin to fresh all-time peak
Bitcoin set a fresh all-time high on Thursday, after rising 6.5% to $22,765 by 0833 GMT, just a day after smashing the $20,000 milestone for the first time. The world's highest profile crypto-currency has gained more than 175% this year, buoyed by demand from larger investors attracted to its potential for quick gains and perceived inflation-hedging qualities. READ MORE
2:48 PM
Commodity Heatmap :: Sharp rally in gold, price tops Rs 50,000-mark
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Mindspace REIT raises Rs 200 cr via debentures
Mindspace Business Parks REIT has raised Rs 200 crore by issuing debentures on a private placement basis. In a regulatory filing, the company informed that the executive committee K Raheja Corp Investment Managers LLP, manager to Mindspace Business Parks REIT, has approved the allotment of 2,000 non-convertible debentures of the face value of Rs 10 lakh each for an aggregate principal amount of Rs 200 crore on a private placement basis. (Text Source: PTI)
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First Published: Dec 17 2020 | 7:38 AM IST
