Nifty Could Continue to Gain Tomorrow as US Futures Showing Uptrend

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Nifty Could Continue to Gain Tomorrow as US Futures Showing Uptrend

By Aditya Raghunath

Investing.com -- Indian markets continued their rally from last week as both Nifty and BSE Sensex ended at record highs. Nifty closed at 12,461, up 197.5 points or 1.61%. The BSE Sensex closed at 42,620, up 740.91 points, or 1.74%. This was the sixth consecutive session where the markets have rallied.

The US Presidential election results have boosted sentiments across the world. Expectations from President-elect Joe Biden that he will launch a new COVID-19 stimulus have given European markets, including the FTSE (up 1.4%), CAC (up 1.61%), and DAX (up 1.98%), a significant boost.

The Dow Futures are also up 300 points which means Nifty may continue to trade higher tomorrow and in the following days as well.

What drove the markets today?

27 out of 30 stocks on the Sensex ended in the black. The only laggards were Bajaj Finserv (NS: BJFS ) (down 0.07%), Maruti Suzuki (NS: MRTI ) (down 0.52%) and ITC (NS: ITC ) (down 0.66%). Bank and energy led the sectoral indices charge.

Bank Nifty closed at 27,534 up 735.15 points or 2.74%. Axis Bank (NS: AXBK ) (up 4.85%), ICICI Bank (NS: ICBK ) (up 4.86%), and HDFC Bank (NS: HDBK ) (up 2.7%) moved the index up. S&P BSE Mid Cap and S&P BSE SmallCap were also up 1% and 0.5% respectively.

Market heavyweight Reliance Industries (NS: RELI ) continued its upward trend, closing at Rs. 2,051, up 1.08%.

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  • Kedar Borkar @Kedar Borkar
    Looking at the positive global sentiment due to the vaccine trial success and also considering the previous week's up trend continuation here's a probability that market will gap up followed by small correction and then bulls might continue the rally
    Like 0
  • nitin chugh @nitin chugh
    risk hai to ishq hai
    Like 5
  • Dharmesh Pancholi @Dharmesh Pancholi
    Scam 2020
    Like 10
    • Kedar Borkar @Kedar Borkar
      Gap up--Small correction/profit booking--Bulls will continue the rally
      Like 0
    • Kedar Borkar @Kedar Borkar
      Gap up--Small correction/profit booking--Bulls will continue the rally
      Like 0
    • Kedar Borkar @Kedar Borkar
      Gap up--Small correction/profit booking--Bulls will continue the rally
      Like 0

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