Market Moving Higher without Entry Points

weekly share market news and updates

Our Analysis

Indian markets have shown pick up in the activities during November. India is hardly accounting the rise in the number of cases started during the end of October. Indias manufacturing activity growth lost pace and fell to a three month low in November owing to slow expansion in factory orders and exports. The IHS Markit India Manufacturing Purchasing Managers Index (PMI) fell from 58.9 in October to 56.3 in November.

On the global front, World shares edged up to just below record peaks on Tuesday after robust China data boosted expectations of a recovery from the Covid-19 downturn and as drugmakers seek fast approval for their vaccines and authorities look set to keep stimulus support. World shares edged up to just below record peaks after robust China data boosted expectations of a recovery from the Covid-19 downturn and as drugmakers seek fast approval for their vaccines and authorities look set to keep stimulus support.

In commodities, oil prices rose as producers including Saudi Arabia and Russia locked horns over the need to extend record production cuts set in place in the first wave of the Covid-19 pandemic.

This Weeks Market Highlights:

Benchmark Indices:

1) On Monday, he market observed a holiday today.

2) On Tuesday,Sensex rallied 506 points, or 1.15 per cent to end at 44,655 levels while Nifty ended above 13,100 level at 13,109, up 140 points, or 1.08 per cent.

3) On Wednesday, Sensex settled 37 points, or 0.08 per cent lower at 44,618 levels while Nifty ended at 13,114, up 4.7 points, or 0.04 per cent.

4) On Thursday, Sensex ended 15 points, or 0.03 per cent higher at 44,633 levels while Nifty settled at 13,134, up 20 points, or 0.15 per cent.

5) On Friday, Sensex hit a new milestone today as the index breached the crucial 45,000 level for the first time ever to end at 45,080 levels, up 447 points, or 1 per cent. On similar lines, Nifty ended at 13,259, up 125 points, or 0.95 per cent.

Broader Index & Global Market:

- Indian markets and stocks are keeping a complete ignorance towards domestic and global news. Stocks are rallying on every news these days. Every day some sector is coming up with the positives and taking the market to new heights. Sensex and Nifty have shown sure dominance among the markets and expected to rally further in coming days.

- China stocks edged lower on after the US House of Representatives passed a bill that threatened to delist Chinese companies off US stock exchanges, a move likely to further ratchet up tensions between Washington and Beijing. In Europe, shares made lacklustre moves in the early deals, awaiting more signals from Brexit negotiators, while tracking progress in stimulus measures and vaccines as economies still reeled from the fallout of the Covid-19 pandemic.

Movers & Shakers

Shares of ABB Power Products and Systems India rose 13 per cent to Rs 1,296, also its new high on the BSE on Tuesday. The stock has zoomed 33 per cent in 3 days on tie-up with Ashok Leyland for e-bus pilot.

Shares of HDFC Bank (down 2 per cent) ended as the biggest loser on Sensex after the Reserve Bank of India (RBI) ordered the bank to halt digital launches and new credit cards.

Key Market Drivers

  • Coronavirus vaccine
  • Lockdown in Europe and Australia
  • Q2FY21
  • Farmers protest

Event Watch

International:

  • Coronavirus vaccine
  • USA PMI
  • Japan GDP
  • UK GDP

Domestic:

  • Coronavirus- vaccine
  • India-China conflict
  • Q2FY21
  • India inflation rate

Stocks To Watch

Pfizer Ltd On Upside while, HDFC Bank Ltd on Downside.