Eco Survey projects robust 11% growth in FY22
Investors lose Rs 2 lakh cr as Sensex slumps 588 pts
Survey urges govt to act without fear on fiscal front
Survey calls for revamping PSU boards, more PSU IPOs
Survey accuses Moody’s, S&P of rating bias
IRFC sees weak market debut, ends 0.8% higher
Sun Pharma, IOC report two-fold jump in Q3 profits
Let us take a quick glance at what happened on the Dalal Street today.
The Economic Survey’s double-digit GDP growth projection for FY22 could not lift sentiment on Dalal Street on Thursday, that was otherwise hit by an up to 3 per cent selloff in global equities. The benchmark indices tumbled for the sixth straight session. Notably, it was the fifth day in a row when the Sensex fell over 1 per cent.
That might make investors more jittery when trade resumes on Monday, the Budget day.
The 589-odd fall brought the Sensex near the 46,000 mark. The 50-pack Nifty fell below its 50-day moving average and is now ruling below 13,650 level. Dr Reddy’s took a huge beating, falling close to 6 per cent. Maruti, Bharti Airtel, Bajaj Auto and Infosys all tanked.
Moving against the wind, IIFL soared 20 per cent, Shriram Transport 16 per cent while KPIT Tech climbed 7 per cent.
We caught up with Paras Bothra of Ashika Stock Broking to understand his views on the market
Welcome to the show, Mr Bothra
What are the key takeaways of the Economic Survey for the market?
What should one expect from the Union Budget on Monday?
On technical charts, Nifty signalled more volatility and a wider range next week.
We caught up to decode the charts. We caught up with Nilesh Jain of Anand Rathi to decode the charts.
Welcome to the show, Mr Jain
Nifty has fallen below its 50-day moving average. Where is it headed?
What is your take on Nifty Bank? Which index is in better shape: Nifty or Nifty Bank?
Elsewhere, other Asian markets settled up to 3 per cent lower. Most European markets slipped in the first few hours of trade. US stock futures also hinted at a near 1 per cent fall for US equity indices 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!
