Today’s Market Summarised

Just like Friday, Nifty saw shifts in sentiments and created a v-shaped graph today. After opening the day with a 50 point gap-up, Nifty quickly went up to create a fresh all-time high near 13,600. But soon after, profit booking came out and the index fell more than 120 points to take support at 13,470. Despite this fall, just like Friday, Nifty recovered to close at 13,558, up 44 points or 0.33%.

Bank Nifty mostly consolidated through the day. After opening with a gap-up at 30,741, the index of banks moved sideways and closed at 30,745, up 141 points or 0.46%. From the day’s high to low, Bank Nifty moved only 230 points today.

Media stocks were the top gainers today, closely followed by PSU Banks and Metals’ index. Auto and Realty were the worst-performing sectors in the day.

Major Asian and European markets are trading in green, at the time of Indian market close.

News Picks

SUNTV shares consistently went up to close 4% up after the company’s Chief Financial Officer(CFO) said they have seen a ‘drastic recovery’ in advertising revenue. He also said that they will be spending more on acquiring content going ahead.

Auto stocks were generally down after manufacturers said that the shortage in containers will lead to lower export of vehicles.

Shares of Larsen & Toubro went up more than 4% after the construction company bagged contracts worth Rs 1,000-2,000 crores from various clients.

IT and Pharma shares closed in green, but mostly flat, after dollar to rupee price stabilised today.

Burger King listed at Rs 113 on NSE today. The issue price was Rs 60. Share prices closed at the 20% Upper Circuit at Rs 135.

Oil and energy stocks gained with ONGC being the top-gainer for the day. This was rightly analysed in our pre-market report, here. Global crude price are gaining momentum and going up after expectation of vaccine increasing demand.

Cipla share went up more than 4% after the news of settlement with Celgene.

Markets Ahead

Broader markets outperformed Nifty to start the week on a strong note. The mid-cap index gained 0.6% while the small-cap index ended 0.8% higher. We had talked about this on our morning article, just how money might start flowing in to these stocks more.

Also according to Bloomberg, India’s smaller stocks are beating their large-caps for the first time in three years, and some strategists say that out-performance will likely continue at least through next year.

A lot of eyes are focused on the US as first stages of vaccination begins today in the worlds’s largest economy. Will US markets see a bull-run today, and will it take up our markets? According to JP Morgan, Nifty is likely to touch 15,000 by December 2021. Let me know how you expect the US markets to close in the comments, if you are on the mobile app.

Keep an eye out for how the US markets close tonight. And also how Dow Futures are performing by Monday morning.

Hope you will all tune in to The Stock Market Show tonight. Keep watching this space for more.