Market Wrap Up 30th December 2020
The markets continued its forward march in positive territory, Sensex went up by +133.14 points and Nifty went up by +49.35 points and the same is just around 18 and odd points away to hit the magical number 14000 points.
Suspension of flights to and from the UK get extended till 7th January 2020, the same may get extended if things don’t look feasible.
Covid 19 pandemic has given rise to the Insurance business, especially the General insurance space. The Health Insurance space has been seeing a lot of demand, the same has led to the recruitment of more insurance agents/advisors, some companies have doubled the recruitment rate.
Tata Group has been shelling out a lot of money these days, the TCS buyback has got a record of 165% subscription, Tata also hiking their stake in AirAsia JV with Air Asia (Malaysia).
ICICI picks up 9.09% stake in MyClassBoard Education Solutions for Rs. 4.5Crores, the same has shown that banks are also keen to invest into startups and in future, we can expect other banks also to follow the same route.
The day’s biggest gainer was Ultratech Cements +4.04% and the day’s looser was Indusind Bank which went down by -1.52%.
Gold (10Grams) right now is trading Rs. 49,941 (-Rs. 98)Siver (1 KiloGram) right now is Rs. 68,377 (=280)
Petrol and Diesel prices remain unchanged.
The last day of 2020 happens to be a Thursday and the same happens to be the day of F&O expiry, so there may be a lot of momentum in the markets, so let’s wait and see if Nifty is able to close at 14,000 points and we get the start 2021 at the positive note and at great heights.