NFOs lift equity MF inflow in July to Rs 22,500 crore
Oil plunges 4% on UN climate change warning
Parliament passes Tribunals Reforms Bill
Banks report improved NII, lower NPA provisioning in Q1
Govt mobilises Rs 31,290 cr from Sovereign Gold Bond Scheme
Let us take a quick glance at what happened on Dalal Street today.
Domestic equity markets kicked off the new week on a positive note as bulls recovered from the midday blip and ended in the green. The upbeat US job data put some pressure on the investors. However, the retail investment lifted the sentiments higher, thanks to buying in private lenders. BSE Sensex gained 123 points, before settling just above the 52,400 mark. The Nifty50 pack added 20 points to end the week at about 16,250. However, broader markets continued to underperform, with BSE midcap and smallcap index giving up to a percent each. Fear gauge India VIX settled unchanged.
On BSE Sensex, M&M, Axis Bank, Tech Mahindra and Bajaj Finserv each gained about 2 per cent. IndusInd Bank, Asian Paint, Power Grid, Infosys, ICICI bank and Nestle added up to a per cent each. On the contrary, Bharti Airtel led the losers, declining 2 per cent. Tata Steel, NTPC, L&T and Reliance gave up to a per cent each. Over 365 stocks hit upper circuit limits for the day and about 125 stocks tested their 52-week highs during the day.
We have Narendra Solanki from Anand Rathi Financial Services with us to share his views on the day’s action and the road ahead:
Welcome to the show, sir:
1. Why could benchmark indices not hold morning gains?
2. Where do you see value in this market? Is there any sector that you think investors should not shy away from?
We also caught up with Nirav Chheda of Nirmal Bang Securities to decode the technical charts for you.
1. Nifty was able to hold above the 16,250 mark. What do the technical charts suggest?
2. What is your take on Nifty Bank?
Asian markets ended mixed for the day. Major European markets were trading higher in the first few hours of trade. US stock futures were down, hinting towards a negative 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!