Goodwill  Investor Education Initiative : GoodWill  Eagle’s Eyes!

Goodwill  Investor Education Initiative : GoodWill  Eagle’s Eyes!

Bourses peak again but corrects a little:

The Indian stock market opened in positive territory scaling new highs , the SGX Nifty 50 traded higher at 12,769 indicating a marginally higher start for the Sensex  at 43708 (peak) but slowly drifted to negative as a small correction which was overdue.

Stock Market Live: Indian indices were trading at their respective record highs on Wednesday with Nifty market cap crossing Rs 100 lakh crore as hopes for a successful coronavirus vaccine lifted sentiment across the globe. Gains in the domestic indices were led by banks, auto and pharma stocks. The Sensex rose as much as 430 points to its new high of 43,708 while the Nifty gained 89 points to a new high of 12,769.75.
Asia: Markets in Asia-Pacific were mixed on Tuesday while airline stocks soared as investors in the region reacted to positive developments overnight on the coronavirus vaccine front. In Japan, the Nikkei 225 rose 0.26 percent to close at 24,905.59 while the Topix index gained 1.12 percent to finish its trading day at 1,700.80. Over in South Korea, the Kospi closed 0.23 percent higher at 2,452.83. The SET Composite index in Thailand also jumped more than 4 percent. Mainland Chinese stocks were lower on the day: The Shanghai composite dipped 0.4 percent to about 3,360.15 while the Shenzhen component shed 1.045 percent to approximately 13,993.34, reported CNBC

US: U.S. equity futures were flat in overnight trading on Tuesday, amid this week’s rotation out of technology stocks into cyclical names. Dow futures dropped 35 points. S&P 500 futures and Nasdaq 100 futures fell 0.12 percent and 0.01 percent, respectively, reported CNBC .

Closing Bell On Tuesday: Indian shares ended at a record close for the second session on Tuesday, tracking gains in Asian peers, as progress in coronavirus vaccine raised hopes of a global economic recovery. Pfizer Inc said its COVID-19 vaccine, developed with German partner BioNTech was more than 90 percent effective in preventing infection, marking the first successful results from a large-scale clinical trial. The Sensex ended 680 points higher at a record closing high of 43,277 while the Nifty rose 170 points to settle at a record close of 12,631. Among other sectors, the Nifty Bank index and the financial index climbed 3.5-4 percent each, rising for a seventh consecutive session. However, the Nifty IT index was the top drag among sectors and fell 3.7 percent.

Crude Oil: Oil prices rose on Tuesday as hopes that a COVID-19 vaccine could be on the horizon outweighed the expected negative impact on fuel demand of new lockdowns to curb the virus. Brent crude futures rose 53 cents, or 1.3 percent, to $42.93, while U.S. West Texas Intermediate (WTI) crude futures settled up $1.07 cents, or 2.7 percent, to $41.36. Both contracts jumped 8 percent on Monday, in their biggest daily gains in more than five months, after drugmakers Pfizer and BioNTech said an experimental COVID-19 treatment was more than 90 percent effective based on initial trial results, reported CNBC International.

Rupee Closing: The rupee depreciated 3 paise to close at 74.18 (provisional) against the US dollar on Tuesday, as higher crude oil prices and the stronger dollar against key global currencies weighed on sentiment. At the interbank foreign exchange (forex), the domestic currency opened higher at 74.04 a dollar, but could not hold the momentum and finally settled 3 paise lower at 74.18 against the greenback, reported PTI.

Overweight on India, bullish on technology, says Mark Mobius

Emerging market (EM) guru Mark Mobius, Founder of Mobius Capital Partners sees a v-shaped recovery in the global economy next year. “The market is already beginning to factor that in,” he added. “We have been pleased with the performance of the shares that we have in India and as a result the weightage in our portfolio is the biggest for India,” Mobius said. “We have been focusing more on the infrastructure in India and also on the technology side,” he said. Technology is the largest single sector in our portfolio, he said. “What we are doing is not necessarily focusing on the internet or telecoms but we are focusing on nuts and bolts of technology,” Mobius said.

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