Market Wrap Up 24th December 2020
The markets continued the bull run as predicted in our last Market Wrap Up, Sensex closed with +529.35 points & Nifty closed with +148.15
Mrs Bectros, who got listed today at a 74% premium over the allotment price has raised by 109%. The same may or may not continue to go up, so for people who have purchased the shares in IPO or bought today, we suggest you to sell half of it on the next trading day and observe the same in further trading days and then sell the remaining half of it. If you are looking at the long term then you can continue to hold.
2020 has been a good year for the markets, as we had 16 successful IPO’s and companies have accumulated investment of whooping 31,000 crores even after COVID 19 pandemic keeping lives and business of people still.
RBI says 2021 would be a great year for the Indian economy as Indian Economy shows faster recovery than predicted and we also have good numbers of IPO’s coming up in 2021 and Growth has turned positive in Q3 of 2020 as well. Lets home COVID19 does not spoil the party.
Government is back to the Divestment Plan that they had kept in cold storage for a while, they keep BEML and ITDC as the ones to be divested next in the agenda.
The days biggest gainer was Tata Motors gaining 3.99% and the days biggest loser was Infosys with 1.3%
Gold right now is trading around Rs. 50,027 for every 10 grams and the same is down by (-) Rs. 122 & Silver for every kilogram is trading at Rs. 67,541 and the same is down by (-) Rs. 35.
Petrol and Diesel Prices Remain Unchanged for the day.
The technical charts show the market having positive sentiments and the same should be in Green in the next trading session, provided the global markets are also in the green zone.