Today’s Market Summarised

What a historic day for NIFTY. Not even 9 months after the index touched 7,500-levels it touched a new all-time high above 14,000 today. The index consolidated most of the day and traded within a 90 point range. If you were to consider the wicks, NIFTY traded in a mere 60 point range. The index closed the day at 13,981, exactly where it closed yesterday and with a 0% movement.

Bank Nifty also traded in a very tight range today. After opening near 31,300, the index moved wildly within a very small range. Different banks performed in different parts of the day, to form large candles and keep the index alive. Bank Nifty closed the day at 31,264, down 39 points or 0.12%

Realty and Media indices moved the most today. IT and FMCG stocks remained a bit in red, along with Bank Nifty.

Asian markets closed mixed for the day. European markets are all trading in red.

News Picks

Shares of SAIL closed at more than 6%, after the company remarked that steel prices would not be going down any time soon.

Realty stocks continued their rally, closely followed by metals. Sobha(up 8.5%), Indiabulls Real Estate(up 3.6%) and Godrej Properties were among the top-gainers. We had already talked about the reason multiple times. In the upcoming Union budget, the realty sector is rumoured to be benefitted.

Shares of Jubilant Foodworks closed more than 4% up after the company said it would invest Rs 92 crore in Barbeque Nation for a 10.76% stake.

Cement stocks fell sharply after profit booking kicked in. ShreeCem(down 2.4%), RamcoCem(down 2.15%), AmbujaCem(down 1.4%) were among the top losers today.

Shares of Sobha went up more than 8.5% after Sobha Realty reported doubled villa sales in the second half of 2020.

After TRAI cancelled the Interconnect Usage Charges(IUC) for all domestic voice calls, Reliance Jio has gone ahead and made all domestic voice calls free again on its network. A data-pack may still be required. Shares of Reliance moved sharply after the announcement. Shares of Airtel fell sharply to close among the top losers.

Markets Ahead

What an end to the year! Nifty has touched the historical mark of 14,000. Even though it crossed the 14k mark, sharp corrections made the day among the best for option sellers. Even though the indices consolidated, intraday traders had multiple opportunities all throughout the day to make profits. Gold prices have steadily gone up, just as we expected it would after a stimulus from the US.

It was the weekly and monthly expiry, along with the end of a year and I am just surprised to how fast the year went by. With 2020 being such a rollercoaster year, it was an amazing experience connecting with everyone through this platform. From me, and the entire team at marketfeed and fundfolio, I wish you all a very Happy New Year. Stay safe, and stay invested.

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