Nifty Touches 14,000 Mark For First Time Ever As Markets Recover Today (December 31, 2020)

Stock Market Updates: Selling pressure in financial and IT shares weighed on the markets.


Domestic stock markets registered new record highs on the last day of 2020 amid optimism on a fast recovery from the coronavirus-caused slowdown among investors, though trade was thin on account of holidays in Asia. The S&P BSE Sensex index rose 119.34 points, or 0.25 per cent, to touch an all-time high of 47,865.56 following a flat start, and the broader NSE Nifty 50 benchmark climbed above the 14,000 mark for the first time ever, to clock an all-time high of 14,010.15.

Here are 10 things to know about the markets today:

  1. The Sensex ended 5.11 points, or 0.01 per cent, higher at 47,751.33 and the Nifty settled flat at 13,981.75. (Track Sensex, Nifty Here)

  2. Gains in banking, financial services and pharmaceutical shares supported the markets, however losses in IT and metal shares limited the upside. Caution prevailed ahead of the expiration of December series derivatives contracts due by the end of the day. (Also Read: Stocks To Watch Today)

  3. HDFC, ICICI Bank, Dr Reddy’s, Tata Motors and Adani Ports, trading between 0.48 per cent and 1.51 per cent higher, were the top percentage gainers in the Nifty basket of 50 shares. On the other hand, Shree Cement, UltraTech Cement, GAIL, UPL and Grasim, down 0.87-1.63 per cent each, were the worst hit among 28 laggards in the index. 

  4. The country’s current account surplus — or the difference by which exports exceed imports — shrank to $15.5 billion in the July-September period, from a record $19.2 billion in the previous quarter, as its merchandise trade deficit grew, RBI data showed on Wednesday. The surplus stood at 2.4 per cent of the country’s GDP, compared with a deficit of $7.6 billion, or 1.1 per cent, in the corresponding period last year.

  5. The recent current account surpluses — three straight quarters — have largely been caused by a decline in the country’s trade deficit, caused by the COVID-19 pandemic, and by a drop in economic activity

  6. Equity markets elsewhere in Asia edged higher on Thursday, and were set to end a tumultuous 2020 at record highs, while growing investor hopes for a global economic recovery caused the dollar to fall further against most major currencies.

  7. MSCI’s gauge of Asia-Pacific shares excluding Japan rose 0.10 per cent to its latest peak, having explored fresh territory repeatedly late in the year. However, year-end trading was typically thin.

  8. The index is set for a fourth-quarter gain of over 19 per cent, which would be its strongest three-month performance since 2009, and a yearly rise just shy of 20 per cent, which would be its highest since 2017.

  9. Chinese blue chips rose 1.45 per cent on Thursday after official data showed that activity in China’s service and factory sector expanded in December, albeit both at a slower pace than the previous month. The Hong Kong benchmark also rose 0.26 per cent. The financial markets in Japan and South Korea are on holiday.

  10. The E-Mini S&P futures traded 0.10 per cent higher at the last count, indicating a positive start for Wall Street on Thursday. 

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