Markets zoom ! Sensex above  47300  Nifty > 13800

The Indian market opened at record high level on Monday following gains in Asian peers after reports said that US President Donald Trump has signed a USD 900 billion pandemic relief package. Broader markets, Nifty Midcapp100 and Smallcap100 supported gains. All the Nifty sectoral indices were trading in the green led by banks and metals.

Technical View | We have opened on a boisterous note and should be headed to 13,950-14,000 levels soon. This could be as early as this week. The weekly support is at 13,550-13,600 and any dip towards those levels becomes a good buying opportunity for higher targets, says an analyst.

Market Opens | The Indian equity benchmark indices, Sensex and Nifty opened at record high levels on Monday following gains in Asian peers after reports said that US President Donald Trump has signed a USD 900 billion pandemic relief package. Broader markets, Nifty Midcapp100 and Smallcap100 supported gains. All the Nifty sectoral indices were trading in the green led by banks and metals.

Stocks like NCC are the ones that will probably be participating in this new leg of smallcap, midcap up move for the simple reason that the market is seeing such active rotation. The company has great order books and this is one company that had done a lot of repair in the last 2-3 years in terms of their asset shift, will probably standout and they will gain market share, they will be able to participate more actively in tenders which come up in the subsequent financial year.

Tata Motors, the dip that we saw in anticipation of the second wave, in UK particularly, was the opportunity that you could have got into, because I don’t think life changes dramatically just because UK and Europe have decided to sit on the same table. Tata Motors, particularly JLR, has business profile that is much more dependent on so many other geographies. So, my reckoning is that it doesn’t change too much for Tata Motors except for sentimental positive that you could see in the prices today. However I don’t think you could buy into it just because of this.

6 of top-10 most valued firms add Rs 60,198 cr in m-cap; Infosys, TCS top gainers

Six of the top 10 most valued Indian firms together added Rs 60,198.67 crore in market valuation last week, with IT major Infosys and Tata Consultancy Services (TCS) emerging as the biggest winners. Reliance Industries Ltd (RIL), TCS, Hindustan Unilever Ltd (HUL), Infosys, Kotak Mahindra Bank and Bharti Airtel were the six winners on the top-10 chart.

On the other hand, HDFC Bank, HDFC, ICICI Bank and Bajaj Finance witnessed a decline in their market valuation.

The market capitalization of Infosys zoomed by Rs 19,849.41 crore to Rs 5,26,627.07 crore.

TCS added Rs 17,204.68 crore to take its valuation to Rs 10,91,362.33 crore and the valuation of HUL gained Rs 16,035.72 crore to Rs 5,63,881.75 crore

442 infra projects show cost overruns of Rs 4.34 lakh crore

As many as 442 infrastructure projects, each worth Rs 150 crore or more, have been hit by cost overruns of over Rs 4.34 lakh crore, according to a report. The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth Rs 150 crore and above. Of the 1,671 such projects, 442 reported cost overruns and 536-time escalation.

“Total original cost of implementation of the 1,671 projects was Rs 21,21,383.82 crore and their anticipated completion cost is likely to be Rs 25,55,957.52 crore, which reflects overall cost overruns of Rs 4,34,573.70 crore (20.49 percent of original cost),” the ministry’s latest report for November 2020 said.

The expenditure incurred on these projects till November 2020 is Rs 11,93,997.81 crore, which is 46.71 percent of the anticipated cost of the projects.

However, it said that the number of delayed projects decreases to 412 if the delay is calculated on the basis of the latest schedule of completion.

Further, the report said that for 942 projects neither the year of commissioning nor the tentative gestation period has been reported

FPIs pumped in Rs 60,094 crore in December so far. So the markets are vibrant with bull operators and hence the investors may avail this rare opportunity.

Foreign portfolio investors (FPI) have pumped in a net Rs 60,094 crore into Indian markets in December so far amidst optimism in the global markets.

According to the depositories data, FPIs invested a net Rs 56,643 crore into equities and Rs 3,451 crore into debt instruments between December 1-24. The total net investment during the period under review stood at Rs 60,094 crore. In November, the total net investment of FPIs stood at Rs 62,951 crore.

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