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Sensex Gains 1.39% During The Week On Strong Global Cues

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It was a good week for the markets with the Sensex gaining as much as 1.39 per cent, and the index closing above the 41,000 points mark.

Global cues were very strong, particularly with UK Prime Minister, Boric Johnson registering a solid win, which laid hopes of a quick Brexit. This send stocks particularly with UK operations like Tata Motors soaring.

Apart from this the US China first phase trade agreement pushed US Markets like the S&P 500 to a record high and hence the broader global markets.

 

The gains in the Sensex could be attributed to some buying in heavyweight stocks including the likes of HDFC, which hit a new record high and also Reliance Industries.

The rupee to lend support to the stock markets by showing decent gains during the course of the week. It rallied as much as 39 paise to 70.81, against last Friday's closing of 71.20.

Sensex Gains 1.39% During The Week On Strong Global Cues

Global fears are also fast receding and things are looking up. Markets in India are likely to continue their strong momentum, as solid liquidity could spark a fresh round of buying.

Overall, a good strategy would be a buy on decline strategy. Buying at higher levels, may reduce the risk to reward ratio. One needs to be careful with the Sensex at a near record high.

Read more about: sensex nifty
Story first published: Saturday, December 14, 2019, 12:53 [IST]
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