GST collection in Feb tops Rs 1 lakh crore
Maruti Feb auto sales up 11.8%, Tata Motors’ 51%
IMD says most parts of India to see hot summer this year
SBI reduces home loan interest rate to 6.7%
Bitcoin rises 6% as risk assets rally
Let us take a quick glance at what happened on the Dalal Street today.
Domestic indices climbed over 1.5 per cent as stocks rejoiced progress over US stimulus, an ease in bond yields and kick start of the next phase of Covid vaccination.
Data showing a growth in the third quarter GDP and inline February auto sales data also boosted investor sentiment.
The BSE Sensex soared 750 points to close at 49,850. Nifty closed above 14,750. Power Grid surged 6 per cent, ONGC climbed 5 per cent and UltraTech Cement gained 4 per cent. Kotak Mahindra Bank, Titan, HDFC and HCL Tech rose over 3 per cent each. Bharti Airtel remained the sole Sensex loser, falling 4 per cent.
State-run MMTC also hit its 20 per cent upper circuit limit.
The recent market debutant RailTel hit a 20 per cent circuit limit.
We have with us Narendra Solanki of Anand Rathi Stock Broking to share his views on the market.
Welcome to the show, Mr Solanki
1) What made the market rebound today?
2) Recent IPOs have delivered strong short-term returns. What would be your advice to prospective IPO investors?
On technical charts, Nifty50 has formed a small bullish candle on the daily charts. We caught up with Nirav Chheda of Nirmal Bang Securities to decode the charts.
Welcome to the show, Mr Chheda
1) Nifty has rebounded despite making an Island Reversal on Friday? What’s the signal?
2) What is your view on Nifty Bank?
Asian markets settled up to 2.4 per cent lower. European markets were trading higher in the first few hours of trade. US stock futures were hinting at a gap-up 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!
