Sensex Ends 91 Points Higher; BPCL And UPL Top Nifty Gainers

Indian share markets recovered early losses and ended marginally higher today.

At the closing bell, the BSE Sensex stood higher by 91 points (up 0.2%).

The NSE Nifty closed higher by 30 points (up 0.2%).

BPCL and UPL were among the top gainers today.

The SGX Nifty was trading at 14,623, up by 50 points, at the time of writing.

The BSE Mid Cap index ended up by 0.3%, and the BSE Small Cap index ended up by 0.2%.

On the sectoral front, gains were largely seen in the energy sector, capital goods sector, and healthcare sector.

Metal stocks, on the other hand, witnessed selling pressure.

Shares of MRF hit their 52-week highs today.

Asian stock markets closed on a mixed note. As of the most recent closing prices, the Hang Seng ended up by 0.9% and the Shanghai Composite stood lower by 0.9%.

US stock futures are trading higher today indicating a positive opening for Wall Street indices with Dow Futures trading up by 92 points (up 0.3%).

Crude oil prices were trading higher on expectations of a drawdown in crude oil inventories in the United States for a fifth straight week, but investor worries over climbing coronavirus cases globally capped price gains.

The rupee is trading at 72.99 against the US$.

Gold prices for the latest contract on MCX are trading down by 1% at Rs 48,813 per 10 grams.

Note that since the lows in March 2020, the smallcap index has gained more than 100%.

While caution is indeed warranted, Richa Agrawal, Research Analyst at Equitymaster, thinks there is still a lot more steam left to this smallcap rally.

Despite rallying more than 100% since the March 2020 lows, Richa believes small-cap stocks are set for a massive up move in 2021 and beyond.

Richa believes if you focus on the quality of business, margin of safety in valuations, and an optimum asset allocation, you are likely to create huge wealth for yourself.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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