Goodwill  Investor Education Initiative: GoodWill  Eagle’s Eyes!

Goodwill  Investor Education Initiative: GoodWill  Eagle’s Eyes!

Markets boom: Auto sector, Telecom up

Market rises to record high. NIFTY 50 hits intra-day life high of 12,934 & SENSEX 44,161. Midcap index hits fresh 52-week high of 18,565. Sensex, Nifty open at record high on vaccine hopes; RIL up 2%

The markets ended Samvat 2076 on a positive note. The Nifty and the Sensex gained close to a quarter of a percent higher.

In fact, Dalal Street has posted gains in 9 out of the last 10 trading sessions. The midcaps outperformed the benchmarks to end close to a percent higher while the Nifty ended half a percent in the green. ICICI Bank, Reliance Industries Ltd, and Infosys led from the front.

Indian indices opened at a record high on Tuesday, tracking global peers, as news of another promising coronavirus vaccine lifted hopes. Investor sentiment was given a boost when Moderna said its experimental COVID-19 vaccine was 94.5 percent effective in preventing infection based on interim late-state data. The Sensex rose 458 points to new high of 44,096 while the Nifty rose 154 points to 12,934. Back home gains were led by heavyweights RIL and financials. Broader markets were also higher with the Nifty Midcap and Nifty Small cap indices up 0.5 percent and 0.4 percent, respectively. All sectors were also in the green. The Nifty Metal surged the most, up over 1 percent while the Nifty Bank and Fin Servcies indices were up 0.8 percent each.

Oil prices edge higher ahead of OPEC+ meeting, vaccine hopes

Oil prices edged higher on Tuesday on expectations OPEC and its allies will extend oil production cuts for at least three months, while sentiment was bolstered by news of another promising coronavirus vaccine. Brent crude futures for January rose 16 cents, or 0.4 percent, to $43.98 a barrel and U.S. West Texas Intermediate crude for December added 13 cents, or 0.3 percent, to $41.47 a barrel. Equity markets rose on hopes of a quicker economic recovery after Moderna Inc said its experimental COVID-19 vaccine was 94.5 percent effective in preventing infection based on interim late-state data. This comes after Pfizer reported last week that its vaccine was more than 90 percent effective.

BPCL gets multiple bids; no super major in race

The government on Monday received ‘multiple’ bids for buying out its stake in India’s second-biggest fuel retailer BPCL but billionaire Mukesh Ambani’s Reliance Industries as well as super majors Saudi Aramco, BP and Total did not make a bid. Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), which is handling the strategic sale, tweeted that the transaction advisors for the sale of government’s 52.98 percent stake in Bharat Petroleum Corp Ltd (BPCL) have reported receiving “multiple expressions of interest.” expressions of interest.” “The transaction will move to the second stage after scrutiny by TA,” he said. TA stands for a transaction advisor. “Strategic disinvestment of BPCL progresses: Now moves to the second stage after multiple expressions of interest have been received,” Finance Minister Nirmala Sitharaman also tweeted.

The country’s largest carmaker Maruti Suzuki NSE 1.08 % India on Monday said it has sold over two lakh cars through the online channel. The company, which initiated its online sales platform around two years back, said the digital channel now covers nearly 1,000 dealerships across the country.

The markets are in positive trajectory and hence investors are advised to take advantage of the same by carefully positioning themselves in the market.

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