Coronavirus Vaccine News: Optimism over COVID Vaccine, Expectations of Stimulus in America Could Drive MKT Higher; Analyst |

Coronavirus Vaccine News: Optimism over COVID Vaccine, Expectations of Stimulus in America Could Drive MKT Higher; Analyst |

New Delhi: With optimism about the COVID-19 vaccine and new stimulus expected in the US, the market may pick up next week, with investors continuing to monitor global events and the situation around coronoviruses for further movement Must keep, analysts said. The benchmark index Sensex rose more than 2 percent to reach the 45,000 level last week after the Reserve Bank of India kept policy rates unchanged, but it retained its stance and revised the growth forecast for this fiscal.
The 30-share index touched a lifetime peak of 45,148.28 on Friday before settling at 45,079.55 – its all-time high. The broader NSE Nifty touched a new high of 13,280.05 during the session, before finishing at a record closing level of 13,258.55.
During the break-off week, the Sensex gained 929.83 points or 2.10 percent, while the Nifty rose 289.60 points or 2.23 percent.
Analysts said a fresh stimulus is expected in the US and the rollout of the coronovirus vaccine has pushed markets around the world to record levels.
Prime Minister Narendra Modi said last week that a COVID-19 vaccine could be ready in a few weeks as he said that experts believe the wait for it will not be long, and insisted that the vaccination campaign be started in India Will shake as soon as the scientists give.
“Investors have vaccinated to monitor coronovirus status and to vaccinate on economic activity,” said Sumit Bagadia, executive director of Choice Broking.
Ajit Mishra, VP – Research, Rearing Broking Ltd said, “With all the big events behind us, we think global cues will determine the market trend ahead. In addition, news related to the COVID vaccine will also remain in focus. ”
Vinod Nair, head of research at Geojit Financial Services, commented that further updates to revised discussions about vaccine development and US stimulus could inject more optimism into global markets.
According to data from the Union Health Ministry, India’s total COVID-19 active cassiolad fell to 4,09,689 on Saturday, its lowest in 136 days.
The ministry said that for the last eight days, the new recovery recorded in the country is higher than the daily cases.
Markets will also be waiting for industrial production and inflation figures, with post market hours to be declared on Friday.
Sentiment in the market will be guided by other major market movers such as trends in the rupee, Brent crude and foreign capital inflows.

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