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Let us take a quick glance at what happened on the Dalal Street today.
Benchmark equity indices witnessed a volatile session on Tuesday, with Sensex closing above the 46,000 mark after a wild swing of nearly 1,000 points in intra-day trade.
Sensex added 453 points to close at 46,007 points, while peer Nifty climbed 138 points to 13,466 points.
Software exporters contributed the most to Sensex’s gains with Infosys rising 3.78 per cent, while sector leader TCS climbed 1.82 per cent.
The BSE mid and small cap indices also advanced in sync with the frontline indices, as they added around 1 per cent each.
At this juncture, with the market displaying extreme behavior, investors are concerned if they should hold on or lock in gains.
To discuss this and more, we caught up with independent analyst Ambareesh Baliga to understand his views.
Welcome to the show, Mr Baliga.
1) What do you make of the volatile moves we saw over the last two sessions? Should investors lock in gains or hold on to their investments?
2) What is your take on index heavyweight Reliance Industries going ahead?
3) Where can investors seek shelter in such a market?
Technically, Nifty has formed a hammer sort of a candle pattern, and it may extend gains towards its immediate resistance level of 13,600 in coming sessions.
We spoke to Ajit Mishra, VP Research, Religare Broking, to understand how he decodes the charts.
1) Steep decline yesterday, and a sudden recovery in the second half today. What is the Nifty chart trying to tell investors?
2) What is your take on Bank Nifty at this point of time?
3) Which stocks or sectors do you see delivering gains for the remaining sessions this year?
Elsewhere in Asia, shares retreated on fresh Covid-19 concerns. However, European shares and U.S. futures advanced after American lawmakers approved a $900 billion package of measures to help the economy get through the Covid-19 pandemic.
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!
