Markets are likely to consolidate further on the first day of 2021 but volumes are likely to be thin with most global peers shut for a holiday. Also Read | Investing during all-time highs can be good strategyMarkets have not only recovered from the more than 20% slump in March but also hit record highs multiple times in 2020. The year 2021 is expected to be a better year for markets with likely strong recovery in both economy and earnings compared to a covid-impacted 2020, according to analysts. For the year, the S&P 500 gained 16.3%, the Dow 7.2% and the Nasdaq 43.6%, which marked the biggest yearly gain for the tech-heavy index since 2009. Back home, shares of auto stocks will be in focus today as companies will release their monthly sales data for December.

Source: Mint January 01, 2021 03:00 UTC