Stock Markets on Monday – Action packed Monday likely as Sensex, Nifty50 end 2021 emphatically; outlook for January 2022 series positive: Anil Singhvi

Indian stock market ended the year on a high note. On Friday, the BSE Sensex ended at 58,253.82, up over 459 points or 0.80 per cent from the Thursday closing price. Meanwhile, the Broader market Nifty50 ended at 17,354.05, up over 150 points or 0.9 per cent. The domestic markets saw actions in almost all segments.

Over a 1 year period, the upside has been almost 24 per cent.

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Zee Business Managing Editor Anil Singhvi said that the stock markets ended the year emphatically, despites not enough global triggers and many overseas stock markets remaining closed. The markers started Friday on a low note but picked up pace, later, the Managing Editor said.

The much needed breakout levels between 17,200-17,250 were also hit on the last trading day of the year gone by. Even the Bank Nifty, ended positively near 35,500. All through the December Series, there was a selling pressure by the markets by the Foreign Institutional Investors (FIIs) which lessened towards the end of the series, he further said.

There was also significant action from the funds to increase their NAVs. Another important trigger was the toning down of Omicron fear, despite growing number of cases, he opined.

Buying trends were seen across segments be it the index stock or the mid cap and small caps.

Anil Singhvi’s strategy for 3 January – Monday

Singhvi said that the Friday US market action will be reference point for the domestic exchanges when they reopen on Monday. He said that the support on Nifty50 has shifted upwards and now is at 17,200-17,250. The stock markets will try to move towards 17,600.

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As for Bank Nifty, the support lies between 35,000 and 35,200 while it will try to move towards 35,800 and 36,000. Buying could be seen in the broader markets, as well, Singhvi.

As for the outlook over the January series, he said that pre-budget 2022 buying will be seen he said that adding that many sector and stocks will remain in focus throughout the month. He expects an eventful next week.