business

Live: Will the market rally rage on? Should you bet on banks & PSUs to ride the pre-election cheer?

Indian equity benchmarks Sensex and Nifty zoomed to new highs surging more than 2 percent on December 4, as investors celebrated the BJP’s win in three state elections, seeing it as a sign of continuing political stability. At close, the Sensex was up 1,383.93 points, or 2.05 percent, to 68,865.12, and the Nifty was up 418.9 points, or 2.07 percent, to 20,686.80, closing at a new high for the second successive session. The pivot point calculator indicates that the Nifty is likely to see immediate resistance at 20,289, followed by 20,314 and 20,356, while on the lower side, it can take support at 20,207, followed by 20,181 and 20,140 levels. This morning global cues are subdued with Wall Street pausing its rally and Asian markets trending lower. The GIFT Nifty is in the negative zone but hints at a dash at 20,800 for the Nifty. Also among stocks in focus today, we put the spotlight on Honasa Consumer, Bank Of India and CAMS among others. Which are the themes one should look at to ride this upmove in the run up to the general elections? Catch Nandita Khemka in conversation with Osho Krishan, Sr. Analyst - Technical & Derivative Research, Angel One and Feroze Azeez, Deputy CEO, Anand Rathi Wealth.

first published: Dec 5, 2023 08:54 am