Wealth managers are advising clients—especially the rich-- to shift some money from fixed deposits to Sovereign Gold Bonds citing bullish outlook for gold and lower taxes.
Options data suggests resistance in the 11,900-12,000 zones and these levels will be crucial from the immediate short-term perspective.
Rakesh Jhunjhunwala said trading in the stock market is a full-time profession and newcomers should let professionals handle their money.
The index continued its winning streak for the seventh consecutive session and rallied by more than 1100 points in last eleven trading sessions. Now it has to continue to hold above 11,800 and further move towards 12,000 and then 12,200.
An average of eight investors placed orders each second during the subscription period, highlighting retail frenzy over Ant’s IPO.
For this horrible year, the International Energy Agency sees global oil demand 8.4 million barrels a day lower than it was in 2019.
Going forward, continuation of accommodative stance by global central banks may ensure flow of foreign investments into emerging markets including India, said Himanshu Srivastava, Morningstar India.
As 90 per cent of its branches are in non-urban areas, the company has not been impacted much by the Covid-19 pandemic.
Since hitting an all-time low relative to the S&P 500 on Sept. 2, the MSCI Asia Pacific Index has outperformed the U.S. benchmark by almost five percentage points.
Market barometer Sensex rose 4.68 per cent to 40,509.49 points, while peer Nifty climbed 4.36 per cent to 11,914.20 points during the week.
Factors like increased recharges, reverse migration, and easing of lockdown curbs helped operators overcome an otherwise seasonally weak quarter.
Since bottoming 16 days ago, the index has surged 7.4%, sailing past a presidential Covid-19 diagnosis and one of the more contentious electoral debates.