ITC and TCS had been the best gainers on Sensex, surging more than 2% every.
The initial trading session of 2021 was not significantly various from the final couple of trading sessions of the earlier year as Sensex and Nifty continued to climb larger in a related style. S&P BSE Sensex now sits at 117 points larger at 47,868 points though Nifty was above 14,000 for the initial time ever on closing. Midcap and Smallcap index outperformed the benchmarks. Volatility index was down 7%. Among sectoral indices, only Nifty Bank, Financial Services and Private Bank index closed with losses.
Top gainers: ITC and TCS had been the best gainers on Sensex, surging more than 2% every. These had been followed by Mahindra & Mahindra, Bharti Airtel, and State Bank of India, moving up more than 1% every. BHEL and Cholamandalam Finance had been the best gainers on BSE Midcap index.
Laggards: ICICI Bank was the only Sensex constituent to fall more than 1% on Friday. It was followed by HDFC Bank and Titan. JSW Energy and Castrol India had been the best laggards on the BSE Midcap index. On the smallcap index, Ashiana Housing was down 5% followed by Borosil Renewables.
Volatility comes reduce: India VIX of the volatility index slipped 7.27% on Friday, as it slipped under 20 levels on the initial day of trade in 2021.
GST Collection jump in December: GST Collection was reported at Rs 1.15 lakh crore in the month of December, hinting at a swift financial recovery.
What do the specialists say?
S Ranganathan, Head of Research at LKP Securities –
“Markets ended in the Green on the First Day of the New Year buoyed by record GST collections and we saw a host of stocks buzzing around in the broader market weeks ahead of the Earnings Season. TCS led the rally with the Auto numbers providing the momentum as a number of companies announced price hikes today.”
Vinod Nair, Head of Research at Geojit Financial services –
“With a hope that 2021 will be a year of economic recovery, market is touching all-time highs on a daily basis. Stocks across sectors cheered with mid & small caps at the forefront. The combined effect of foreign inflows and real earnings growth can keep the market rallying going forward.”