Sensex Ends At Record High; Tata Motors And Adani Ports Among Top Nifty Gainers

Indian share markets extended gains to the second day today and ended at record-high levels with Nifty ending above 14,600-mark.

At the closing bell, the BSE Sensex stood higher by 393 points (up 0.8%).

The NSE Nifty closed higher by 123 points (up 0.9%).

Tata Motors and Adani Ports & SEZ were among the top gainers today.

The SGX Nifty was trading at 14,635, up by 78 points, at the time of writing.

The BSE Mid Cap index ended up by 1.1%. The BSE Small Cap index ended higher by 0.6%.

On the sectoral front, gains were largely seen in the auto sector, IT sector, and energy sector.

Asian stock markets ended mixed today. As of the most recent closing prices, the Hang Seng ended up by 1.1% and the Shanghai Composite ended up 0.5%. The Nikkei ended lower by 0.4%.

US stock futures are trading higher today indicating a positive opening for Wall Street indices with Dow Futures trading up by 62 points (up 0.2%).

The rupee is trading at 73.01 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.3% at Rs 49,149 per 10 grams.

Also speaking of the current stock market scenario, 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.

Moving on to stock-specific news...

DCM Shriram was among the top buzzing stocks today.

DCM Shriram reported a 45% year-on-year (YoY) increase in its consolidated net profit at Rs 2.5 billion for the quarter ended December and announced a Rs 10 billion investment to grow its chemical business.

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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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