X

Market recap for 15 January 2021

Nifty50: 14,433 ▼ 161 (-1.1%)

Sensex: 49,034 ▼ 549 (-1.1%)


The markets opened the day on a weak note and continued to drift downward for the rest of the day. Among the Nifty50 stocks, 42 closed in the red, indicating selling pressure across the board.

Every sectoral index in the Nifty fell, with the Nifty IT (-2.2%) and Nifty PSU Bank (-1.9%) indices losing the most today.

Top gainers Today's change
Tata Motors ▲ 6.6%
Bharti Airtel ▲ 3.9%
UPL ▲ 2.6%

Top losers Today's change
Tech Mahindra ▼ 3.9%
HCL ▼ 3.7%
Wipro ▼ 3.6%

Here are the top stories of the day.

PVR gains despite Q3 losses

IDFC First forays into the credit card business

Tata Steel Long Products surges on Q3 results

Gail announces buyback and interim dividend

Closing bell

In line with the drop in most global equity markets, the Indian markets traded in the red today. Profit booking was witnessed across the board and all sectoral indices ended negatively. Although the markets gained 0.6% over the last week, today’s price action favours a bearish trader.

Among the Q3 results that have been announced so far (mainly IT majors), there have not been any negative surprises. The news from the US is also positive, given that it has announced the $1.9 trillion stimulus package. Yet, the investors are choosing to book profits as if it is all priced in.


Good to know

What is book building?

Book building is a process for discovering the price of shares. The company offering the shares announces a price range and asks investors to bid on it. The bids are submitted to the lead merchant banker (also called the book runner) who enters the bids in a book. Finally, the shares are sold at a price (cut-off price) which is determined by the proportion of bids received at each price.


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Disclosures and Disclaimer

Investment in securities markets are subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.

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