After a long bull over the past few weeks, markets have corrected by a few percentage points on 15th January 2021. This small downfall is in sync with global peers. Global markets including Indian stock markets corrected and this correction is much needed after a continued bull movement for days.
Sensex fell by 549.49 points and Nifty50 fell by 161.90 points on Friday. Overall both indices have showed a positive movement in the last week and have hit record highs.
Recap of Last week Markets
Sensex, Nifty & Nifty Bank Gain Less Than 1% Each For The Week and Nifty Midcap Index Falls 1.2%
In the Week; 1ST Weekly Negative Close Of 2021- Metal & Pharma Fall the Most While PSU Bank & Auto Gain The Most
Top Nifty Gainers in last week: Tata Motors, Bharti Airtel, ITC, M&M
Top Nifty Losers This Week in last week: Asian Paints, Bajaj Finserv, Divi’s, Hindalco
After observing both the Nifty and Sensex reaching new highs, Last week Bank Nifty joined the list by reaching a new high breaking its previous all-time record.
Indian Indices Closing Price.
Indian Indices price 15th Jan
Markets are valued at a high P/E ratio at present. But the bulls doesn’t seem to lose the power and the Market may continue its BULL movement.
Market Support and Resistance Level for Nifty50
The present Support and resistance for Nifty are as below.
The first IPO for the year 2021 IRFC will open for subscription today(18th Jan) and will be live for 3 days till 20th Jan. To open an account for Zerodha to apply for IPO click here
Indigo paints IPO will open for subscription on 20th Jan and will be live for 3 days. All other details regarding the IPO will be published as and when available. Stay subscribed for Pre Market Newsletter
Stocks To Watch
Happiest Minds: BNP Paribas has acquired share 9,25,250 equity shares at an average price of 368.55 on National Stock Exchange
Inter globe Aviation: The market share of Indigo remained unchanged at 53.9% in December 2020 when compared to November 2020.
Spice Jet: The market share of SpiceJet fell from 13.2% in November 2020 to 13% in December 2020 while the passenger load factor increased from 77.7 in November to 78% in December.
Captain Polycast: The company will be adding new manufacturing lines at the Kurnool plant considering the positive traction in sales from the plant in the current year.
Vedanta: Vedanta has announced a voluntary Open offer which will open on March 4th and will close on March 18th 2021.