Closing Bell: Sensex ends on a calm note
The last trading day of the fateful 2020 turned out to be good for the Nifty which closed with nearly 15 percent gains. Social media platforms have been bustling with the news already:
The sensex has closed at 47,751.33 points while Nifty has settled at 13,981.75. Let us have a quick recap of the markets in 2020 according to credible media sources.
The year in general may have been not so fruitful but it has definately brought respite in certain forms for the financial market:
⦁ Nifty gained 5th year in a row, rises over 10% in each of last 2 years
⦁ Nifty Bank snaps 4-year gaining streak, all stocks decline except Kotak Bank and HDFC Bank
⦁ Nifty Midcap snaps 2-year losing streak, outperforms Nifty
⦁ Nifty Small snaps 2-year losing streak, outperforms Nifty
⦁ Nifty Pharma snaps 4-year losing steak
⦁ Nifty IT gains for 4th year in a row and posts best year since 2013
⦁ Nifty PSU declined third year in a row by losing over 30% in 2020
⦁ Indi VIX gained over 75% to post best year in history
⦁ Rupee ends at highest closing level since Sept 2
The graphical representation of the sensex for 31st December, 2020 is provided below:
Some of the top gainers are listed below:
1. VIP Industries
2. Crompton Grieves
3. Indiabulls
4. IRCTC
5. Abbott India
Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives of Kotak Securities stated:
"2020 has been a year where RBI played an extremely important role of keeping volatility in check. They sold aggressively when USD rose in value during Covid panic of March-April. Then they bought close 100 billion dollars, to prevent Rupee from appreciating, when inflows gushed to Indian capital markets. During 2021, If the global trend of USD remains downward, Then USD INR can decline towards 70.00 levels"
Ajit Mishra, VP of Religare Broking said:
"In a choppy trading session, the Indian markets traded in a tight range amid stable global cues. Investors would await the auto sales numbers and PMI data as it would help in gauging the economic recovery. Further, global cues are likely to dictate the trend for the markets in the near-term. We reiterate our cautious stance on the markets"
The COVID-19 pandemic brought the world to a complete standstill and had adverse effects on the market, hopefully the upcoming 2021 will bring some respite and bring gains for the investors. To know what has been trending on the digital media platforms, don't forget to visit checkbrand.online, a one stop solution for all your digital queries.
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