Voda Idea CEO assures employees about telco’s future
Airtel ties up with Google Cloud, Cisco to launch Office Internet
NHAI incurs Rs 3,512 cr loss due to Covid
Indian airlines, airports see financial losses worth Rs 22,400 cr in FY21
Government to amend tax laws to provide Covid-related relief
Let us take a quick glance at what happened on Dalal Street today.
Despite a roller-coaster trading session, bulls continued to lift benchmark indices higher to new records. Buying in metal and IT counters offset the selling pressure in banking and financial counters. Strong macro economic data and upbeat corporate earnings supported the sentiments. BSE Sensex gave up majority of the day’s gains to settle just below the 52,500-mark or 123 points higher. The Nifty50 pack added 36 points to close at 16,295. However, broader markets continued to underperform. BSE midcap mildly rose, but smallcap index declined half a per cent. Fear gauge India VIX eased 3 per cent.
On BSE Sensex, Bharti Airtel gained 4 per cent, whereas ITC and Tech Mahindra jumped 3 per cent each. Tata Steel and HCL Tech added 2 per cent each. HDFC Bank, Reliance and Kotak Mahindra Bank ended up a per cent each. On the flipside, SBI led the losers, declining over 3 per cent. IndusInd Bank, Bajaj Finance and ICICI Bank tanked 2 per cent each. Bajaj Finserv, Ultratech Cement, Maruti, NTPC, M&M and Asian Paints gave up a per cent each. About 285 stocks hit upper circuit limits for the day and over 90 stocks tested their 52-week highs during the day.
We have Vinod Nair from Geojit Financial Services with us to share his views on the day’s action and the road ahead:
Welcome to the show, sir:
1. What are your expectations from RBI’s monetary policy tomorrow?
2. Broader markets are underperforming larger peers in recent sessions. Is the party in midcaps and smallcaps over?
We also caught up with Rohit Singre of LKP Securities to decode the technical charts for you.
1. Nifty 50 is marching towards 16,400 levels. Do you see scope for some profit taking?
2. Nifty Bank showed underperformance today. What are the technical charts suggesting?
Asian markets ended mostly lower for the day. Major European markets were trading with gains in the first few hours of trade. US stock futures were up hinting towards a positive start to US equities later in the day.
That’s all for now. Do check out ETMarkets.com for all the news, market analysis, investment strategies and dozens of stock recommendations. Enjoy your evening. Bye Bye!
