Investor wealth rose by Rs 3.43 lakh crore after Sensex and Nifty logged their best gains in four months today. Market wealth on BSE rose to Rs 196.20 lakh crore today against Rs 192.77 lakh crore in the previous session. Buoyed by strong global cues ahead of a new presidency in the US under Joe Biden, Sensex closed 834 points higher at 49,398 and Nifty gained 239 points to 14,521. On Monday, Sensex ended 470 points lower at 48,564 and Nifty fell by 152 points to 14,281. Compared to its four-year low of 25,981 on March 23, 2020, Sensex has gained 90.13% till date. Similarly, Nifty has clocked a gain of 90.81% from its March 23 low of 7,610. Sensex has climbed 1,646 points or 3.45% since the beginning of this year. Similarly, Nifty has risen 3.86% or 539 points since January 1. On Sensex, today's top gainers were Bajaj Finserv, Bajaj Finance, HDFC , L&T and ICICI Bank stocks rising up to 6.77%. Tech Mahindra, ITC and M&M were the only losers on the 30-stock index falling up to 0.54%. Market heavyweight Reliance Industries share ended 1.65% higher at Rs 2,016 on BSE. Market breath turned positive with 2,124 stocks closing higher against 874 ending lower on BSE today. 148 stocks were unchanged. The bullishness in stock market was also reflected by the number of securities hitting upper and lower circuits on BSE.
While 367 shares hit their upper circuits on BSE, 206 stocks fell to their lower circuits today. Similarly, 241 stocks reached their 52 week highs and 40 shares slipped to their 52 week lows on BSE. All 19 BSE sectoral indices ended in the green. Banking stocks led the gains with BSE bankex rising 703 points, followed by consumer durables index gaining 440 points and capital goods index rising 545 points from previous close.
World markets were subdued on Monday, with US exchanges closed for a holiday. Hong Kong's Hang Seng led the advance, gaining 3.2% to 29,784.44 and the Nikkei 225 in Tokyo gained 1.5% to 28,673.84. South Korea's Kospi jumped 2.7% to 3,095.96. In Australia, the S&P/ASX 500 rose 1.2% to 6,740.60. The Shanghai Composite index was flat at 3,596.10
Gaurav Ratnaparkhi, Senior Technical Analyst, Sharekhan by BNP Paribas said, "Nifty witnessed smart recovery on January 19 after declining for the last couple of sessions. It had a sharp retracement of the recent fall & retraced more than 61.8% of the fall. The index is heading towards the 78.6% retracement mark, which is near 14560. The overall structure indicates that the Nifty can still consolidate further before commencing larger rally. However the range has shifted higher to 14200-14600 where the index can consolidate over the next few sessions."
Deepak Jasani, Head of Retail Research at HDFC Securities said, "Nifty has bounced back smartly on January 19, however, with lower volumes. This has raised hopes of continuation in the upmove. Sharply positive advance decline ratio also reinforces this feeling. However, it would be interesting to watch as to whether Nifty will cross 14653 and make a new high."
Shares climbed in Asia on Tuesday as the coming changing of the guard in the US raised hopes for more support for the economy and more aggressive measures to fight the pandemic. Benchmarks rose in Tokyo, Seoul and Hong Kong but slipped in Shanghai. World markets were subdued on Monday, with US exchanges closed for a holiday. Hong Kong's Hang Seng led the advance, gaining 3.2% to 29,784.44 and the Nikkei 225 in Tokyo gained 1.5% to 28,673.84. South Korea's Kospi jumped 2.7% to 3,095.96. In Australia, the S&P/ASX 500 rose 1.2% to 6,740.60. The Shanghai Composite index was flat at 3,596.10.