Weekly Financial Market Update weekly stock market review zws 70 | Market-Weekly: Record Stage!

‘Sudhir Joshi

Last week’s good news in global markets added to India’s positive economic data earlier this week. Growth rate faster than expected, goods and services tax collection surpassed Rs 1 lakh crore for the second month in a row, monthly vehicle sales continued to boost the local capital market. The Sensex and Nifty closed higher for the fifth week in a row.

The rapid growth in the economy is nutritious for freight forwarding companies. Blue Dart, a world-renowned company, is gearing up to facilitate the transportation of corona vaccine in India (storage and transportation at minus 80 degrees). Modern technology-friendly practices are already prevalent in the company. The company has a cooperation agreement with DHL, the world’s number one company. The company’s second-quarter results are impressive.

Profits have tripled year-on-year. The company will increase service prices from January 2020. Investing in this company is a great option to take advantage of post-coronary period opportunities. Shares of state-owned banks have also started joining the market as signs of industrial progress have been received. But to take advantage of this, investing in banks other than State Bank and Bank of Baroda would be a daunting task. As written back, basic industries like steel companies are gaining strength as they come out of the lockout period. The result was seen in shares of SAIL, Tata Steel, JSW Steel this week. The opportunity to invest in them is not over yet. Among such core industries, Tata Power rose this week. The company is taking steps to reduce debt. The company is moving into new businesses such as solar power projects in rural areas, solar lights as well as ‘charging stations’ for electric passenger vehicles. A long-term investment in this company will pay off.

The Reserve Bank of India (RBI) has imposed temporary restrictions on the issuance of new credit cards and the addition of new customers by the proposed digital ventures due to continuous technical glitches in HDFC Bank. When such a crisis befalls a leading company in any field, it is a buying opportunity. This week saw buying in several stocks in the mid-cap category along with key indices. The mid-cap index went up five per cent. The Reserve Bank of India (RBI) maintained all interest rates, downplayed the decline in growth rates and reiterated its commitment to industrial policies. Maintained the policy of strengthening banks by maintaining dividend limits among co-operative banks. The market welcomed it and the index continued its run, with both major indices closing at record highs over the weekend. Investors should look for new areas of investment by making a small profit.

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First Published on December 5, 2020 2:51 am

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