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Market Recap for 26 April 2021

Nifty50: 14,485 ▲ 143 (+1.0%)
Sensex: 48,386 ▲ 508 (+1.0%)


After a gap-up opening, buying interest kept the markets high and the benchmark indices remained in the green throughout the day. Market breadth too was positive, with 39 of the Nifty50 stocks closing with gains.

Among sectoral indices, Nifty Realty (+3.4%) and Nifty Metal (+2.0%) gained the most, while Nifty Pharma (-0.8%) was the only laggard.

Top gainers Today's change
Axis Bank ▲ 4.1%
JSW Steel ▲ 3.4%
Ultratech Cement ▲ 3.3%

Top losers Today's change
Cipla ▼ 2.9%
Britannia ▼ 2.8%
HCL Tech ▼ 2.6%

Here are the top stories of the day.

Steel prices march upwards


Blackstone to acquire stake in Mphasis


ONGC told to sell oil fields


Natco Pharma seeks Covid drug approval


Closing bell

After a flying start, the markets continued to drift sideways for the rest of the day. This week, there are no major domestic data releases. While the Covid cases are rising, markets seem to have taken consolation in the fact that from 1 May, the majority of the population will be covered under the vaccination drive. The turnaround seen in stocks of malls, multiplex, hotels, and airlines—which provide entertainment and leisure services—lend to this line of thought. For fresh triggers, markets will look at Q4 results and at international events such as the US Fed’s interest rate decision this week.


Good to know

What is the rule of 72?

The Rule of 72 is a formula used to estimate the number of years required to double an investment at a given annual rate of return.

Years to double = ~72/(expected interest rate)

For instance, at a 10% rate of return, the original investment will double in about 7 years. Similarly, you can also find the time in which your money will be halved due to inflation. At a 6% rate of inflation, your money will be worth half as much in 12 years.


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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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