INDIAN EQUITY MARKET SAW IMPRESSIVE CORRECTION IN THE LAST HOUR OF THE SESSION

The Market bounced back after one and half day correction led mainly by gains in IT and pharma stocks. Meanwhile, global peers remained cautious as the news of a new fast-spreading strain of the coronavirus in Britain that could slow global economic recovery weighed on the sentiment. The midcaps are also come back from the low point. The Sensex ended 452.73 points or 0.99% higher at 46,006.69 levels with 25 constituents in advance while 5 constituents were in decline .Shares of HCL Tech, Tech Mahindra, Infosys ,Powergrid, Sun Pharma, Nestle India ,L &T were the topmost gainers with a gain of 5.09%, 4.33%, 3.78%, 2.67%, 2.64%, 2.28%, 2.24% respectively whereas shares of Kotak Bank, Bajaj Finance ,HDFC, Reliance ,Indusind Bank were the losers with a loss of 0.94%,0.56%,0.45%, 0.16%, 0.13% respectively. The Nifty ended 137.90 points or 1.03 percent higher at 13,466.30 with sectors like IT, Pharma, Metal, Energy, Auto Indexes gained by 3.36%, 2.22%, 1.36%, 1.17%, 0.84% respectively.

TOP STOCKS IN NEWSCAST:

HCL tech gained over 5% on the expectation of strong earnings growth in the October-December quarter (Q3FY21).

Infosys gained over 3% as the board of directors of the company are scheduled to meet on January 13, 2021 to consider and approve the audited consolidated financial results of the company for the quarter and nine months ending December 31, 2020.

Powergrid surged over 2% as Sharekhan is bullish on Power Grid Corporation of India has recommended buy rating on the stock with a target price of Rs 220.