Ali Hasan
2020 has been a really bad year but seems like the bad year is well behind us and finally we can relax. The 1st good news of 2021 is that Nifty 50 just crossed 14,000 points for the very 1st time in the history of India’s Stock Market.
The stock market is clearly on a roll but many investors are not exactly happy as they think that the market is a bit inflated. Many believe that the valuations aren’t value backed and the Indian economy hasn’t fully recovered to post such exciting growth and numbers.
Hence, if you’re out in the market looking to invest your money, be careful and study the market before the investing. Be it bitcoin or the stock market, both are highly volatile and can fall or rise any minute. So you better be careful.
Experts believe that nifty 50 will remain in the range of 13,750-14,250 in the upcoming sessions. It has gained the last 1,000 points — from 13,000 to 14,000 — in 26 trading sessions, starting November 24, surging 8.2%. Of these trades, the index has lost in only 4 of them as of closing on December 30.
The Nifty 50 has gained 15% this year, as of closing on Dec. 30—its best annual return since 2017. The index is now up nearly 90% from its 52-week low of 7,511, touched on March 24 this year.
The Top Performers of the Nifty 50 constituents, 47 have gained in the last 26 sessions. The top 10 performers include a paint maker, two metal companies, three PSUs, a drug maker, and India’s largest port operator, branded jewellery maker, and construction and engineering conglomerate. Only Power Grid Corp., Bharat Petroleum Corp. and Eicher Motors Ltd. underperformed during this period.
By points, HDFC Ltd. was the top contributor to the final 1,000-point upmove in the Nifty. That’s followed by ICICI Bank Ltd. and Infosys Ltd. Only 4 of the top 10 point contributors on the Nifty were financials. Other major contributors included Tata Consultancy Services Ltd., Hindustan Unilever Ltd. and ITC Ltd.
The Sectoral Picture, The Nifty Realty Index was the top performer during the last 26 trading sessions, gaining more than 20%. The PSU Bank index, too, rose 20% during the period. The Nifty Metal, Nifty IT and Nifty Media saw double-digit returns, while autos underperformed.
