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Let us take a quick glance at what happened on the Dalal Street today.
Benchmark indices climbed half-a-per cent each in a positive day for equities globally. Index heavyweights such as Reliance Industries, HDFC Bank and ITC settled lower, yet benchmark indices moved higher, thanks to buying in several non-performing counters.
Sensex ended the day gaining 254 points at 51,280. Nifty took out its important resistance level of 15,100 and closed at 15,175. Bajaj Finance, Sun Pharma, Tech Mahindra, Axis Bank and Bajaj Auto rose 1.8-2.3 per cent. Infosys, HCL Tech, IndusInd Bank and HUL rose over 1 per cent each. ONGC fell 2 per cent. Kotak Bank, ITC, HDFC Bank and Reliance Industries fell up to 1 per cent.
We have Likhita Chepa, Senior Research Analyst at CapitalVia Global Research to share her views on the market.
1) Do you see sectoral rotation happening in the market? Which sectors are losing sheen, which others are gaining traction?
2) What should be investors’ strategy in this consolidating market?
We caught up with Aditya Agarwala of YES Securities to do the chart reading for our listeners.
1) Nifty seems to have taken out its resistance of 15,100. What’s next?
2) What’s your view on Nifty Bank?
Asian markets mostly settled higher while European markets were also trading firm 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!
