New Year festivity in stock market too

The Nifty closed at 14,000 points for the first time on New Year’s Day. Similarly, the Nifty rose by 36 points to close at 14,018. The Sensex closed at 47,868. The Sensex was up 117 points.

Although it failed to close above 14,000 points on the last day of 2020, the market surpassed that target on the first day of the New Year. It has become a daily sight that the market is moving to new heights.

On the New Year day, public sector bank stocks were the main gainers. The Nifty PSU Bank Index was up 3.25 per cent. IT and auto stocks also rose. Foreign investment firms continue to invest behind the boom.

Adani Ports, TCS, ITC, Mahindra & Mahindra and SBI are the top gainers in the Nifty. Adani Ports rose more than 4 per cent. Most of the Nifty stocks gained. 35 shares rose while 15 shares fell. The biggest losers were Nifty stocks ICICI Bank and SBI Life.

In December, various automakers posted better-than-expected sales. This led to a rise in the price of automobile stocks.