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Share Market Highlights: Sensex ends 143 points lower, Nifty at 13,478; SBI, Infosys, HDFC, TCS top losers

Share Market Highlights: Sensex ends 143 points lower, Nifty at 13,478; SBI, Infosys, HDFC, TCS top losers

India Stock Market Highlights Today: UltraTech Cement followed by Tata Steel, ONGC, IndusInd Bank, HDFC Bank, M&M, Infosys and Reliance Industries were among the top losers in the Sensex pack. On the other hand, Maruti, Nestle India, Titan and PowerGrid were among the gainers

Share Market Highlights: Here's a look at the updates of the market action on BSE and NSE today Share Market Highlights: Here's a look at the updates of the market action on BSE and NSE today

Sensex, Nifty Highlights on December 10: Market indices reversed trend and closed bearish on Thursday, in line with global equities led by profit booking in index heavyweights.  After five days of consecutive bullish rally, Sensex ended 143 points lower at 45,959 and Nifty fell by 50 points to close at 13,478. Retreating from the record highs, most Asian stocks were trading lower as investors kept an eye on Brexit trade talks as well as ongoing negotiations in the US for a coronavirus relief package. Yesterday, Sensex ended 494 points higher at 46,103 and Nifty closed 136 points higher at 13,529. During the session, Sensex hit all-time high of 46,164 and Nifty too logged a record high of 13,548.

Here's a look at the updates of the market action on BSE and NSE today

3. 49 PM: Closing

Market indices reversed trend and closed bearish on Thursday, in line with global equities led by profit booking in index heavyweights.  After five days of consecutive bullish rally, Sensex ended 143 points lower at 45,959 and Nifty fell by 50 points to close at 13,478.

3. 39 PM: Snowman Logistics stock outlook

Yash Gupta Equity Research Associate, Angel Broking said,"Snowman Logistics Ltd stock up by 4.14% on announcement of signing Memorandum of Understanding with Spicejet Ltd for jointly distributing COVID-19 Vaccines. Company has announced that Snowman Logistics Limited and SpiceJet have signed a MOU for jointly engaging in storage, transportation, and distribution of COVID-19 vaccines from various manufacturers, across India and internationally, in the required temperature-controlled zones. As per the understanding, Snowman will handle the ground services which includes activities such as transportation to/from manufacturers, warehouses, airports and consumption points, packing, storage & warehousing, in the required temperature zones, while SpiceJet will provide the air connectivity for temperature controlled distribution of the COVID-19 vaccines across India as well as internationally. This is a very positive development for Snowman Logistics this is very significant for snowman logistics." 

3. 26PM: Market outlook

Ashis Biswas, Head of Technical Research at CapitalVia Global Research Limited said," The market failed to show resilience to stay above the Nifty 50 Index level of 13480-13500. While it is subject to further price action evolution, our research suggests the technical factors are aligned to support a range between 13290 and 13480. Therefore, we advise the short-term traders to use any short-term rally to exit while attempting to buy on dip approach to adopt. The market breadth to deteriorate, indicating the likelihood of higher volatility in the market. Any downwards corrective wave should find buying interest around 13290-13300."

3. 18 PM: S&P Dow Jones to remove 21 Chinese firms from indices

S&P Dow Jones Indices said on Thursday it would remove Chinese companies including Hikvision from its products, becoming the latest index provider to do so following a Trump administration order restricting purchases of their shares. S&P DJI said it would remove A-shares, H-shares and ADRs of 10 companies including Hikvision and Semiconductor Manufacturing International Corp from all equity indices prior to the market open on December 21.

S&P Dow Jones to remove 21 Chinese firms from indices after US blacklisting

3. 10 PM: L&T Technology Services stock hits all-time high

L&T Technology Services' share price touched a 52-week high of Rs 1,890, rising 2% in early trade on Thursday after the company won a multi-year order.

The company in a press release announced that it has been selected by a global O&G major to be the primary engineering partner to support two of their integrated refining and chemicals manufacturing facilities in the USA. This would be a multi-year engagement with a potential value of more than USD 100 million, the filing added.

L&T Technology Services stock hits all-time high on winning $100-million order

2. 57 PM: UPL stock falls 15%

UPL shares slipped over 15% today after amid a report that a whistleblower claimed promoters of the company had siphoned off money. Stock of UPL touched an intraday low of Rs 416.05, falling up to 15.49% on BSE. The stock opened with a loss of 2.52% at Rs 479.90 against previous close of Rs 492.30. UPL share is trading lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has lost 23% in one year and fallen 26.64% since the beginning of this year. At 1: 30 pm, the share fell 12.87% or Rs 63.35 to Rs 429 on BSE.

UPL stock falls 15% on report of whistleblower claim about financial fraud

2. 41 PM: Poly Medicure stock update

Yash Gupta Equity Research Associate, Angel Broking said," Poly Medicure Limited stock hit the upper circuit after getting board approval for fund raising. The Board has considered and approved raising of funds to the tune of amount not exceeding INR 400 Crores through new issue of equity shares by way of qualified institutions placement, in accordance with the relevant provisions of applicable law and subject to approval of the Company's shareholders and receipt of applicable regulatory approvals. Now the company will take shareholder approval through postal ballot. The board has fixed 11th December 2020 as a cut-off date for the purpose of determining shareholder name for postal ballot. This is a very positive development for the company, as this fundraising company will be able to do capital expenditure for the next leg of the growth cycle."

2. 33PM: Power and Infrastructure sector update

In Power and Infrastructure sector update, Subhadip Mitra, from JM Financial Institutional Securities Limited said," Nov'20 Generation +4% YoY growth, 3rd month of consecutive growth - also reflecting uptick in merchant prices. Coal India offtake +3% YoY in Nov'20 on +5% YoY growth in thermal generation. Power plant coal stocks at 22 vs peak of 27 days in Jun'20, on demand pick up. NTPC coal stocks at 19 / 34 days at pithead/non-pithead plants imply strong PAF's and no coal related losses. Discom o/s still at c.8.2x monthly bill. NHAI awarding expected to pick up by 4Q FY21."

2.29 PM: Top losers and gainers

UltraTech Cement followed by Tata Steel, ONGC, IndusInd Bank, HDFC Bank, M&M, Infosys and Reliance Industries were among the top losers in the Sensex pack. On the other hand, Maruti, Nestle India, Titan and PowerGrid were among the gainers.

2. 19 PM: IT services sector update

Manik Taneja from JM Financial Institutional Securities Limited said," Every year around Nov/Dec timeframe, we see queries around the outlook on the subsequent year's IT Budgets and how that might translate into business for Indian IT. In this quick note here, we put together our thoughts on why a laser focus on the overall IT budgets is less relevant (hasn't that always been the case actually!). We note that these spends are never cast in stone and go through their periodic reprioritization depending on how client businesses are doing. Further Indian IT is fundamentally a play on market share gains (albeit we note that market share gains have been slowing down in recent years driven by their increasing scale). Having said that, we believe that Indian IT should benefit from increased relevance of technology and the significant client focus on cost optimization (while markets have rebounded sharply, most industries continue to focus on optimization) that should drive incremental offshoring. This should reverse some of the margin pressures that offshore techs have faced through recent years. We continue to back our 'Improvement in growth and margins for the foreseeable future' theme with Infosys being our top pick amongst Tier I's. Our Tier I preference is INFO>HCLT>TECHM (all rated BUYs) >WIPRO>TCS (both rated HOLDs). Amongst Tier II techs, we like PSYS and MPHL.

2.03 PM: Market outlook

Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said,"Going by the conventional norms of valuations - PE ratio, Market cap to GDP - the market is now over-valued. But the markets can remain over-valued much longer than expected. Presently the market is in bull orbit driven mainly by sustained strong FPI inflows and bulls dictating terms. Globally too markets are buoyant. This may continue. However, investors have to be cautious. Slowly raising the level of cash in portfolio would be a conservative but wise strategy".

1. 57PM:  Brent crude today

Brent crude futures, the global oil benchmark, rose 0.47 per cent to USD 49.09 per barrel, as investors reacted to the jump in US crude stockpiles giving less importance to the possibility of demand pick-up post vaccine rollout.

On Wednesday, WTI Crude ended marginally lower by 0.18 percent to close at $45.5 per barrel after witnessing a sudden spike in the U.S. Crude inventory levels overshadowed the optimism infused by the potential vaccine.

1. 44 PM: Maruti Suzuki share gains 2%

Share of Maruti Suzuki gained 2% in early trade today after the car maker announced it would raise prices from January next year. Maruti Suzuki share gained 1.88% to Rs 7,852 against previous close of Rs 7,707 on BSE. The stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Market cap of the firm rose to Rs 2.33 lakh crore.

The share has gained 11% in one year and risen 5% since the beginning of this year. In a month, the stock has gained 13.81%. Over the past year, cost of the company's vehicles has been impacted adversely due to increase in various input costs, said Maruti Suzuki.

Maruti Suzuki share gains 2% as firm to hike prices from January

1. 38 PM: Rupee depreciates 11 paise to 73.68

Indian rupee, the local currency depreciated 11 paise to 73.68 per US dollar on Thursday's opening trade, tracking muted domestic equities and a rebound in the American currency.

The domestic unit opened at 73.68 per US dollar at the interbank forex market, falling by 11 paise over its previous close. On Wednesday, the rupee strengthened by another 3 paise to mark its seven-week high of 73.57 per US dollar, supported by foreign portfolio flows and positive domestic equities.

Rupee depreciates 11 paise to 73.68 amid rebound in US dollar, weak equities

1. 14 PM: IRCTC share slips 13% as two-day offer for sale begins

IRCTC share slipped 13% in trade today after the government initiated the offer for sale (OFS) today for paring its stake by 20%. The two-day OFS  will open today for non-retail investors today. Retail investors will be able to buy shares of the public sector undertaking (PSU) on December 11. The government will sell 3.2 crore shares, which is expected to fetch Rs 4,374 crore for the exchequer starved of funds due to the COVID-19 crisis.

IRCTC stock opened with a loss of 13.17% at Rs 1,405 against previous close of Rs 1,618 today. The stock has lost 11% in last 3 days. It trades higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages.

The share has climbed 73% in one year and gained 60.28% since the beginning of this year.

 IRCTC share slips 13% as two-day offer for sale begins

1.01 PM: Stocks to watch today on December 10

TCS, Maruti Suzuki, IRCTC, L&T Tech, Pfizer, Torrent Pharma among others are the top stocks to watch out for in Thursday's trading session

Stocks in news: TCS, Maruti Suzuki, IRCTC, L&T Tech, Pfizer, Torrent Pharma

12. 51 PM: Life Insurance monthly sectpor update

In Life Insurance monthly sectpor update, Karan Singh from JM Financial Institutional Securities Limited said," In Nov'20, the life insurance industry APE declined 32% YoY driven by 49% decline in LIC APE and 7% decline in private APE. This was due to high volume of sales last year (Nov'19 APE growth at 67% YoY) owing to LIC discontinuing popular traditional schemes starting Jan'20. Product wise, individual APE was down 33% YoY while group APE was up 4x in Nov'20. Among major players, HDFC Life (11% YoY) and Max Life (8%) posted positive APE performance and outperformed peers. Others, like SBI Life (-5% YoY), BALIC (-14%) and BSL (-22%) reported a weak performance in Nov'20. IPRU Life continued to underperform in Nov'20 with total APE down 28% and retail APE down 31%. On unweighted basis, industry premiums were down 27% YoY led by 36% decline for LIC and 5% decline for private insurers.

YTD, industry APE is down 9% YoY driven by 11% decline for LIC and 6% decline for private insurers. On unweighted basis, industry new business premiums are down 2% YoY in Nov'20 driven 4% decline for LIC while private insurers saw a 4% YoY growth in premiums. In terms of market share, YTD, private players gained c.130bps YoY in APE market share to 50.1% as of YTD Nov'20 driven by 145bps gain for HDF Life. Key industry monitorables remain retail volumes (especially in linked products) and persistency."

12. 40 PM:Overview of Real Estate Sector

Nagaraju Routhu, CEO, Hero Realty said, "The year of 2020 has been a great learning period when it comes to reforming our business strategies and revisiting our contingency plans to prepare ourselves better for tackling setbacks caused due to the lockdown. For real estate specifically, the year has been slow yet stable. In the first two months, sector was functioning as usual, with residential segment going strong. The lockdown announcement however led to a complete shutdown of industries and unprecedented migration of labour class. Real estate witnessed the new dawn with digital integration in terms of virtual tours, online sales, etc. as an alternative to no physical interaction between homebuyers. Gradual unlocking of states and industries helped the sector go back to normalcy. The festive months were bright in terms of project deliveries and possessions. Tier II and Tier III cities as compared to metros have seen robust demand in residential segment due to reduced home loan rates and buyers' inclination towards integrated living."

12. 26 PM: Maruti Suzuki outlook

Amarjeet Maurya - AVP - Mid Caps, Angel Broking said," Maruti Suzuki India (MSIL) is the market leader in the PV segment, commanding a market share of about 50%. The company has continuously focused on gaining market share in the SUV segment on the back of new launches and facelift in the SUV segment. In the last four-month, the company has reported healthy sales number year-on-year growth. Going forward, we expect the company will sustain its growth momentum number on the back of the lower inventory level. Hence, we are positive on the  stock, at a CMP of Rs 7707 and a Target Price of Rs 8631."

12. 15PM: YES Bank share rises 8%, here's why

With only buyers to bid and no sellers to offer, YES Bank share price opened at Rs 20 on Thursday and later rose to Rs 20.75, rising 8.8% against the last close of Rs 19.06. The stock also hit a day's low of Rs 19.15 during the session.

Outperforming the Nifty Bank, YES Bank stock has risen 28.64% in the last 4 days of consecutive gains.

Yesterday, YES Bank share rose 10% in early trade after Brickwork Ratings upgraded the rating of Tier I subordinated perpetual bonds (Basel II) of the lender. The rating was changed to BWR BB+/ Stable  from BWR D of YES Bank Limited.

YES Bank share rises 8%, here's why

12.02 PM: European markets

Geojit Financial said in its note,:"A three-hour meeting between U.K. and European Union leaders on Wednesday evening failed to break an impasse in Brexit trade talks. British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen agreed that a firm decision should be made by Sunday about the future of the talks, as per reports.

The U.K. left the EU in January but agreed to keep the same standards and regulations until the end of the year. That was intended for both sides to have time to develop new trading arrangements. The transition period is due to end in three weeks and there are growing concerns that a new agreement may not be ready by then."

11. 44 AM: IRCTC stock update

Yash Gupta Equity Research Associate, Angel Broking said," IRCTC stock down by 7.5% as company announced OFS (Offer for sale) up to 2.40 crores shares with option of additional sell of 0.8 lakhs shares with floor price of Rs1367. Promoter of the company "Ministry of Railways, Government of India" coming up with OFS of 15% of total issued equity share capital, promoter has an option to sell additional 5% so total OFS could be 20% of equity share capital. Company has fixed OFS has cutoff date for Non-retail investor 10th December 2020 and 11th December for Retail investors. 10% of OFS has been reserved for Retail investors and 5% reserved for Employees. Company has fixed the floor price of Rs 1367 for OFS which is down by 8.86% from CMP of 1500."

11. 33 AM: PVR outlook

Reliance Research in its report said," The stock has retested its 200-day SMA post a breakout and resumed its up-move respecting that long-term moving average. On the lower side, the stock found multiple supports between 1225 and 1210 levels. Its RSI advanced gradually post a trend line breakout and positively poised. The stock has potential to test its 100% Fibonacci Extention of prior up-move (1045-1334), which is placed at 1500 mark. Stop loss will trigger at Rs 1190 (on closing basis) and will negate the long trade."

11. 27 AM: Zydus Cadila outlook

Yash Gupta Equity Research Associate, Angel Broking said,"Zydus Cadila granted Fast Track Designation by the USFDA for Saroglitazar in the treatment of patients with Primary Biliary Cholangitis (PBC). Cadila Healthcare limited announced that United States Food and Drug Administration (USFDA) has granted "Fast Track Designation" to Saroglitazar Mg for the treatment of patients with Primary Biliary Cholangitis (PBC). Fast Track is a process of the USFDA which expedites the review of drugs to treat serious conditions and fill an unmet medical need. A drug that receives Fast Track designation is eligible for Accelerated Approval and Priority Review, if the relevant criteria are met. The purpose is to get important new drugs to the patients faster.The global market for primary biliary cholangitis treatment is expected to grow at a CAGR of 36.3% from 2018 - 2026 and is expected to reach USD 10.8 bn by 2026 as per Coherent market insights. This is a very positive development for the company by getting Fast Track approval from USFDA. Still it may take 3-6 months for the product launch, this can create a big opportunity for the company."

11. 17 AM: Market technical outlook

Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking): said," Our markets reached yet another milestone of 13500 with ease and banking as well as Reliance were the major charioteer of the move yesterday. Since we are in an uncharted territory, sky's the limit for our market; but in our sense, we have now reached the extreme zone, at least for the current vertical move. With a broader view, 14000 and beyond levels are very much possible, but for a time being, 13500 - 13600 are the extreme levels as per few fibonacci ratios. Let's see why these levels are considered important. The 'Golden Ratio' (161%) of the 'Price Extension' of the previous up move is placed at current levels. This level coincides with the 'Multi-year Upward Sloping Trend Line', drawn by connecting all important highs from March 2015 on the monthly chart. Hence, some profit booking around these levels cannot be ruled out.

Yes, we agree to the fact that a strong trend up or down, doesn't necessarily follow any theory. But there is no harm being a bit conservative at times. Hence, since the last 3 - 4 days, we have been continuously advising booking profits in the rally and avoiding aggressive bets overnight. As far as support levels are concerned, 13449 - 13375 would now  be seen as key points."

11.02 AM: Oil prices outlook

Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," On Wednesday, WTI Crude ended marginally lower by 0.18 percent to close at $45.5 per barrel after witnessing a sudden spike in the U.S. Crude inventory levels overshadowed the optimism infused by the potential vaccine.

As per reports from the Energy Information Administration, U.S. Crude inventory levels increased by 15.2 million barrels against the analysts' projection of a 1.4 million-barrel drop. Oil prices were further pressurized as mounting worries between U.S. & China clouded the demand outlook. Reports stated that U.S. was planning to impose sanctions on a few Chinese officials over the political issues in Hong Kong. However, the downfall in Oil prices was limited after the Organization of the Petroleum Exporting Countries (OPEC) and Russia agreed to a marginal increase in 500,000 barrels per day from January 2021 onwards. As for today traders can go for sell in Crude Oil at Rs 3400 levels with the stop loss of Rs 3470 levels for the target of 33280 levels."

10. 56 AM: Gold outlook

 Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," On Wednesday, Spot silver prices plunged about 2.6 percent to close at $23.9 per ounce in line with the international Gold prices. Even Silver prices on the MCX ended dipped about 2.6 percent closing at Rs.63499 per kg. No concrete signs of any additional stimulus by U.S. underpinned the Dollar which might make the yellow metal less desirable for other currency holders. The trend of Gold and silver now become down and expectation of safe haven demand of this asset may fade out. As for today traders can go for sell in gold at Rs 49500 levels with the stop loss of Rs 49800 levels for the target of 48700 levels. They can also go for sell  in Silver at Rs 63,800 levels, with the stop loss of 64300 levels and for the target of 62500 levels."

He added," On Wednesday, Spot Gold ended lower by 1.72 percent to close at $1839.1 per ounce as rising bets on a potential vaccine against the covid19 virus dented appeal for the safe haven, Gold. With commencement of distribution of the potential vaccine in some parts of the world and development with trials and regulatory approvals investors charged towards riskier asset class. However, alarming increase in the covid19 cases around the globe and many countries in partial lockdowns raised bets on further support by global central banks which is limited the fall in the yellow metal prices. Inflation risk reflecting the enormous stimulus infusion and a low interest rate environment has been the primary reason behind tohe solid rally in Gold prices this year."

10. 44 AM: Realty sector update

Yash Gupta Equity Research Associate, Angel Broking said," Big Positive development for Mumbai based real estate players. All parties in BMC back 50% slash in premiums for the real estate sector. All the eight political party group leaders in the BMC have expressed support for the 50% reduction in premiums, cess and levies for the real estate industry. The civic administration is now awaiting the state cabinet nod to the Deepak Parekh committee's recommendation even though it expects a shortfall of 5000-6000 Crs in its revenue this fiscal year. If final approval comes then it will make several projects viable in Mumbai. This will be very positive for Godrej Properties and Oberoi realty."

10. 33 AM: Market outlook

Geojit Finjancial said in its note," 13700-13800 upside objective is still in play as the higher opening and the positive close yesterday dispelled worries about a Doji formed on the previous day. Nevertheless, like all days lately, it would be prudent to keep pushing the downside marker higher. The intraday marker would be at 13400, while 13270 will remain an important pivot."

10. 20 AM: Global market update

Asian markets are trading lower as investors closely watch development from Brexit trade talks and U.S. coronavirus relief package. US markets closed lower reversal back from day high as investors took profits from technology shares which have gained significantly in recent past. European markets closed higher as focus remained on progress of post-Brexit trade talks between U.K. and EU.

10.00 AM: Market outlook

HDFC Securities in its note said," Investors kept an eye on Brexit trade talks as well as ongoing negotiations in the U.S. for a coronavirus relief package. Global equity indexes fell on Wednesday as negotiations over further U.S. fiscal stimulus dragged on and the dollar rose for a fourth straight session.

Nifty continues its upward climb with little signs of a reversal soon. In fact Wednesday's rise has come with an upgap between 13435-13449. It will be interesting to watch as to whether this upgap is filled soon or whether this gap is an exhaustion gap which indicates that we are close to a top."

9. 53 AM: Market outlook

On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"The Nifty has definitely reacted from the resistance corridor of 13400-13700. Yesterday we were trading closer to the upper end of the range, today we are around the lower end of the range. If the markets need to breakdown or correct sharply, it would need to break 13100 which is a strong support for the index. Until then, the trend continues to remain bullish."

9. 48 AM: Market falls further

Sensex dropped 315 points to 45, 789 and Nifty was trading 107 points lower at 13,420. HDFC, TCS, HUL, Wipro, L&T were among the top losers on Sensex and Nifty today

9. 33 AM: Nifty technical outlook

NSE-NIFTY remained sideways before surpassing its near-term hurdle point-13,500 level convincingly. Positive global cues and FII's consistent buying supported the up-move. Overall market breadth turned positive. Its major technical indicators are in favor of bulls. As per current set-up, undergoing positive momentum will continue. That could take the index towards 13,700 and 14,000 levels. On the lower side, the index will find supports at 13,250 and 13,100 levels.

As for the day, support is placed at around 13,470 and then at 13,410 levels, while resistance is observed at 13,569 and then at 13,609 levels.

9. 28 AM: Opening session

After five days of consecutive bullish rally, market indices reversed trend on Thursday, in line with global equities and fell on to bearish territory, amid profit booking. Sensex traded 185 points lower at 45,921 and Nifty fell by 59 points to 13,469.

9. 13 AM: Market outlook

Ajit Mishra, VP - Research, Religare Broking said," Markets are largely mirroring global cues but the benchmark looks slightly overbought so the possibility of consolidation in the near term cannot be ruled out and it would be healthy for markets. We thus recommend booking partial profit in the existing trades and keep trailing stop losses on every rise. For fresh buying, investors should maintain extra caution on the selection of stocks and maintain "buy on dips" approach."

8. 50 AM: FII action

Foreign portfolio investors (FPIs) bought shares worth Rs 3,564.23 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,493.10 crore in the Indian equity market on 9 December, provisional data showed.

8. 40 AM: Rupee closing

On the currency front, the Indian rupee, the local currency benchmark, settled 3 paise higher at 73.57 against the US dollar, supported by foreign portfolio flows and positive domestic equities.

8. 30 AM: Closing

Yesterday, Sensex ended 494 points higher at 46,103 and Nifty closed 136 points higher at 13,529. During the session, Sensex hit all-time high of 46,164 and Nifty too logged a record high of 13,548. Interestingly, before coronavirus started taking its toll on the Indian market, Sensex and Nifty had surged to their record highs of 42,274  and 12,430, respectively on January 19 this year. The indexes have surpassed their record highs hit in January over hopes of a COVID-19 vaccine and change of government in the US.