Goodwill Investor Education Initiative: GoodWill Eagle’s Eyes!
Sensex, Nifty50 at lifetime high: Investors to be cautious:
Covid ’19 vaccine is at sight: US Elections’ impact.
As stated by us earlier, the markets have come into firm grip of Bulls as evidenced by the flying indices. Nifty is at the verge of breaking the 12600 mark and sensex has already crossed 43000 mark.
Indian stock markets were exuberant on Monday morning, along with rest of Asia, as trading began after Joe Biden was elected as the next President of the United States.
Shares of travel-related stocks surged on Tuesday as covid vaccine hopes lifted investor sentiment amid rising cases. Gains in airlines, resorts and hotels advanced as investors assumed that a vaccine may soon return economic life back to normal all over the world.
Among hotel stocks, Indian Hotels Co. Ltd surged 8%, EIH 5.52%, TajGVK Hotels and Resorts 2%, Chalet Hotels 6%, Mahindra Holidays 4%, Wonderla Holidays 10%, Advani Hotels & Resorts 4%.
Among Aviation stocks, InterGlobe Aviation Ltd’s shares rose 4% and Spicejet was up 3%. Among multiplex stocks, PVR climbed 7% and Inox Leisure was up 3.77%.
The covid vaccine being developed by Pfizer Inc and BioNTech SE prevented over 90% or infections, according to multiple news reports.
On Monday, US drug-maker Pfizer released preliminary data from late-stage human trials of the COVID-19 vaccine it developed with German biotech firm BioNTech, and said that vaccine has been found more than 90 percent effective.
Gold and silver prices moved higher in Indian markets after a sharp fall in the previous session. On MCX, December gold futures were up nearly 1% to ₹50,219 per 10 gram while silver futures jumped 2% to ₹62116 per kg. In the previous session, gold had slumped ₹2,500 per 10 gram in Indian markets while silver had crashed ₹4,600 per kg after Pfizer reported promising results from a large-scale corona virus vaccine study.
The market rally may not last too long, if Biden makes good his campaign promises of reversing many of Trump’s tax cuts, once in power.
So investors will do well to exercise caution at every stage while taking “Bull’ or “Bear” positions.
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