Daily Markets - Jan 5, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Indian equity benchmark indices erased all the intraday losses and rose from intraday lows formed at 1016 am. They ended near the day's high. At close, the Nifty was up 66.60 points or 0.47% at 14,199.50.

Volumes on the NSE were higher than recent average. Among sectors IT, Bank and Media were the main gainers while Metals & Realty were the losers.

Most Asian markets reversed early losses Tuesday as hopes for the economic outlook outdid worries over a coronavirus surge, new lockdowns, a slow vaccine rollout and uncertainty over US Senate elections. European stocks were in and out of positive territory on Tuesday morning as investors monitored the coronavirus pandemic and the imposition of further restrictions, along with a U.S. Senate runoff election in Georgia.

Nifty has risen for the 10th consecutive session and has closed at almost 14200 as expected. The momentum is still strong and some more upsides (more in the broader market than the index) is likely over the next few days.

Source : Equity Bulls

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