Asian Paints posts 62% jump in December quarter profit, beats Street estimates
RBI says India within striking distance of attaining positive growth
Bajaj Auto Q3 profit soars 23% to record high; margins hit 2-year high
Bandhan Bank Q3 profit declines 13.5%
FM unlikely to change income tax slabs: Report
Let us take a quick glance at what happened on the Dalal Street today.
Concerns over a massive fire at Covid drug maker Serum Institute’s Pune plant weighed on sentiment, as the BSE Sensex came crashing after hitting the 50,000-mark on Thursday.
Later reports emerged that the impacted unit was making BCG vaccines and not Covid, leading to some recovery in the end.
The BSE index eventually settled 167 points lower, with the NSE barometer Nifty ending below 14,600.
ONGC tanked 3.3 per cent, NTPC dropped 2 per cent while IndusInd Bank declined 1.95 per cent. Reliance Industries held on to its gains and closed 2.5 per cent higher.
In the broader market, Bandhan Bank and IGL plunged 5 per cent each while stocks such as BHEL, Canara Bank, IDBI and Hind Zinc declined 4 per cent each.
We caught up with Vinod Nair of Geojit Financial Services to know his views on the market.
Welcome to the show, Mr Nair.
1) The 50,000 level was a Sensex target analysts were expecting by 2020-end. But the index claimed it in January itself. Do you see limited upside from here on?
2) How should investors position themselves after the recent rally? What should they keep in mind before picking stocks?
On technical charts, Nifty made a bearish candle on the daily chart, even as it continued with its higher high formation. We caught up with Rohit Singre of LKP Securities to decode the charts.
Welcome to the show, Mr Singre
1) Can we expect to hit 15,000 level on Nifty by Jan series expiry?
2) Where is Nifty Bank headed?
Globally, Asian markets ended mixed. European markets were also trading mixed in the first few hours of trade. US stock futures were hinting at a flat to positive start for 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!
