• Home
  • Opinion
  • Politics
  • World
  • Business
  • Science & Tech
Wednesday, February 1, 2023
No Result
View All Result
SUBSCRIBE
The Outlooker
27 °c
Delhi
  • Home
  • Opinion
  • Politics
  • World
  • Business
  • Science & Tech
  • Home
  • Opinion
  • Politics
  • World
  • Business
  • Science & Tech
No Result
View All Result
The Outlooker
No Result
View All Result
  • National
  • Politics
  • Opinion
  • Business
  • Science
  • World
  • Health
Home Business

Shares post 7th weekly jump in longest rally in 20 months

by The Outlooker Web Desk
December 18, 2020
in Business
0
Sensex, Nifty may open in red; 5 things to know before opening bell on Dalal Street today
1.8k
SHARES
12.9k
VIEWS
Share on FacebookShare on Twitter

The Nifty Midcap 100 index gained 1.9% this week, thanks to the overall buoyancy in global markets because of the development of the Covid-19 vaccine and strong capital flows.

Markets darted up to fresh peaks on Friday, capping off a stellar week where the benchmarks closed at record highs every session because of unabated foreign fund inflows.

The markets on Friday posted minor gains, with the Nifty advancing 19.85 points (0.14%) to close at 13,760.55 and the Sensex rising 70.35 points (0.15%) to close at 46,960.69.

During the week, the Sensex rallied 861.68 points, or 1.86%, while the Nifty surged 246.70 points, or 1.82%. The indices posted a seventh straight weekly gain, their longest winning streak since April last year.

The Nifty Midcap 100 index gained 1.9% this week, thanks to the overall buoyancy in global markets because of the development of the Covid-19 vaccine and strong capital flows.

According to data from NSDL, foreign portfolio investors (FPIs) till December 17 pumped $5 billion into equity markets. This means that December has so far seen the third-highest FPI inflows after November and August.

Rusmik Oza, executive vice president, head of fundamental research, Kotak Securities, said: “The market remained buoyant on earlier-than-expected deployment of Covid-19 vaccines, impending US fiscal stimulus and decreasing domestic Covid cases. Two largest NBFCs, Bajaj Finance and HDFC, were the biggest gainers this week.”

IT stocks witnessed heavy buying on Friday, with the Nifty IT index outperforming gains of the benchmark index as well as the sectoral indices. The Nifty IT index rallied by 1.59% and the top gainers on the index were Infosys, Mphasis, and Wipro, up by 2.31%, 2.1% and 1.7%, respectively.

In its report, Edelweiss Securities said a robust tech upcycle or Techolution has just begun. The brokerage said, “Tech budgets are getting a boost due to exceptions to age-old zero-based budgeting; financial services, after sagging for more than a decade, is coming back with a promise of strong spend; pricing in digital is moving northward; furloughs will be equal to or lower than earlier years; and margins will expand again.”

While pressure from profit taking did hurt the markets, the benchmark indices recovered smartly taking cues from the European markets. The bourses in France, Germany and the UK were up between 0.1% and 0.2%. The markets in Taiwan, China and Hong Kong were down between 0.06% and 0.67%.

Siddhartha Khemka, head – retail research, Motilal Oswal Financial Services, said, “Global cues were positive on optimism over a US stimulus package and the Federal Reserve’s promise to keep pouring cash into markets.”

The futures and options segment saw a turnover worth Rs 15.96 lakh crore and the cash market segment saw a turnover worth Rs 68,908.81 crore. This is against the six-month average of Rs 21.7 lakh crore in the F&O segment and Rs 59,316 crore in the cash market segment.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

The Outlooker is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

The Outlooker Web Desk

The Outlooker Web Desk

Next Post
China Emerging As Major Challenge For India

China Emerging As Major Challenge For India

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Drugs Worth Rs 2.68 Crore Seized In Manipur
National

Drugs Worth Rs 2.68 Crore Seized In Manipur

February 1, 2023
UP Woman Beats Man In Park Over Dispute, Investigation Underway: Cops
National

Maharashtra Woman Beaten, Paraded With Garland Of Shoes For Questioning Husband’s Death

January 31, 2023
Padma Awardee Author Sudha Murty’s 4-Point Advice To Son-In-Law Rishi Sunak
National

Padma Awardee Author Sudha Murty’s 4-Point Advice To Son-In-Law Rishi Sunak

January 31, 2023
Nitish Kumar’s Sulking Aide Upendra Kushwaha Recalls A 1994 Challenge To Lalu Yadav
National

Nitish Kumar’s Sulking Aide Upendra Kushwaha Recalls A 1994 Challenge To Lalu Yadav

January 31, 2023

Connect with us

No Result
View All Result

Archives

  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020

Category

  • Artistic
  • Business
  • Crypto
  • Design
  • Entertainment
  • Fashion
  • featured
  • Food
  • Gaming
  • Health
  • Human
  • Lifestyle
  • Movie
  • Music
  • National
  • Opinion
  • Politics
  • Science
  • Spaces
  • Sports
  • Tech
  • Travel
  • Uncategorized
  • World

Recent Posts

  • Drugs Worth Rs 2.68 Crore Seized In Manipur
  • Maharashtra Woman Beaten, Paraded With Garland Of Shoes For Questioning Husband’s Death
  • Padma Awardee Author Sudha Murty’s 4-Point Advice To Son-In-Law Rishi Sunak

About Us

The Outlooker

The Outlooker is your source of authentic, hand-picked news, stories, analysis from India & the World.

  • Terms Of Service
  • Privacy Policy
  • About us
  • Submit your story
  • Contact

© 2019-2021 The Outlooker. All rights reserved.

No Result
View All Result
  • Home
  • Politics
  • World
  • Business
  • Science
  • National
  • Entertainment
  • Gaming
  • Movie
  • Music
  • Sports
  • Fashion
  • Lifestyle
  • Travel
  • Tech
  • Health
  • Food

© 2019-2021 The Outlooker. All rights reserved.