Moody’s expects 7% contraction in FY21 India GDP
Govt tightens grip over OTT content
RBI Governor Das roots for another ARC led by banks
Carlyle emerges sole bidder for Mphasis
UK court allows Nirav Modi to be extradited to India
Let us take a quick glance at what happened on the Dalal Street today.
A heavy lifting by Reliance Industries and firm sentiment globally helped domestic stocks record gains that eventually helped Nifty close the February F&O series near the 15,100-mark. The BSE counterpart Sensex managed a close above the 51,000-mark despite seeing a bout of profit taking towards the end. Reliance Industries rallied 4 per cent and comprised a bulk of Sensex gains. A 3 per cent gain on Axis Bank, a 5 per cent surge for NTPC and over 1 per cent rise in TCS also contributed to the cause.
In the broader market, Just Dial got locked at its 20 per cent circuit limit, so did RCF. IOB and BHEL climbed 10 per cent each. Coal India, Thermax and UPL gained 6-8 per cent.
We have Vinod Nair of Geojit Financial Services with us to talk about the fundamentals of the market.
Mr Nair, welcome to the show
1) What should an investor sitting on gains since, say March lows, do? Should he book profits or do you think the market and stocks can rerate further?
2) What to you is the biggest risk to the market: Rising Covid cases or commodity-fuelled inflation?
Rohit Singre of LKP Securities has now joined us to decode technical readings.
1) After the steep recovery, what are Nifty charts suggesting?
2) What’s your take on Nifty Bank?
Sentiment globally revived after the Federal Reserve said the US central bank was in no hurry to raise interest rates. Asian markets ended up to 3.5 per cent higher. European markets were trading up to 1 per cent higher in the first few hours of trade. US stock futures were hinting at a flat 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!
