Daily Markets - Dec 30, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Indian benchmark equity indices gained for the six straight session on Dec 30 and ended near the day's high. At close, the Nifty was up 49.40 points or 0.35% at 13,982.

Volumes on the NSE were similar to the previous day's but lower than the recent average due to year end and Christmas considerations. Among sectors, Auto, Metals and Realty were the main gainers while Bank and Pharma indices fell marginally.

Asian shares hit a record high on Wednesday, but closed mixed, as investors bet on a strong economic recovery next year after a turbulent 2020, as there is little sign policymakers wind back massive stimulus efforts aimed at staving off coronavirus-fuelled downturns. European markets were marginally up at opening on Wednesday, as the U.K. approved the COVID-19 vaccine developed by AstraZeneca and the University of Oxford and prepared to push the post-Brexit trade deal through Parliament.

On Dec 30, Nifty has closed just shy of the psychological 14000 level which will come in for test on Thursday. While the gains in Nifty have been small due to lower institutional participation the broader market continues to see rotational buying.

Source : Equity Bulls

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