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Stock Marketing Highlights: On the last day of 2020, Sensex, Nifty End Flat


Stock Marketing Highlights: On the last day of 2020, Sensex, Nifty End Flat
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The benchmark indices closed flat after reaching a new lifetime high during the day on 31 December 2020.

At close, the BSE Sensex was up 5 points or 0.01 per cent at 47,751.33 and the Nifty closed absolutely flat at 13,981.75. The BSE Midcap and Smallcap indices rose 0.20 per cent and 0.36 per cent respectively.

 About 999 shares have advanced, 711 shares declined on the NSE.

On Nifty 50 index HDFC Ltd. (1.61 per cent), Sun Pharma (1.43 per cent), Hindalco (1.33 per cent) and ICICI Bank (1.19 per cent) were the top gainers for the day, whereas Shree Cements (-2.39 per cent), TCS (-1.60 per cent), Bharti Airtel (-1.25 per cent) and UltraTech Cement (-1.24 per cent) were the top losers for the day.

On the sectoral front, all the major sectoral indices like Nifty Bank, PSU Bank, Private Bank, FMCG and IT witnessed selling pressure and ended in red, while Nifty Media, Metal, Pharma & Realty closed in green with around a percent’s gain.

Author’s View: After a strong uptrend during the day Nifty gave up all the gains to close flat. 13,950 is an important level for short term traders. If this level is maintained we may see Nifty moving towards 14,050 level, whereas if Nifty moves below 13,950 we expect an intraday or a short term correction in the index. 

Disclaimer:  The view/s expressed above are only for educational/awareness purpose. Mumbailive.com or the author of the post bears no liability for any losses suffered by following any advice posted on the website. You are solely responsible for making your own investment decisions.

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