Cases grip India on 1st lockdown anniversary
Delhi HC drops restraint on Kishore Biyani’s sale of personal assets
Barbeque Nation IPO to open on Wednesday
Four states seek special financial package from centre
Parliament passes insurance amendment bill to raise FDI limit to 74%
Let us take a quick glance at what happened on the Dalal Street today.
Benchmark indices staged a smart rebound, but could not end higher on Monday. The weak closing meant indices were down for six of the last seven sessions. IT stocks jumped on a weak rupee, FMCG stocks also gained, but banking counters continued to struggle.
Sensex shed 87 points to end at 49,771. Nifty settled almost flat at 14,736. That said, the broader sentiment improved.
Grasim, JSW Steel and Adani Group stocks such as Adani Green, Adani Power, Adani Entertainment and Adani Total Gas hit their 52-week highs during the day.
Among select stocks, HGS climbed 13 per cent, SBI surged 12 per cent and Dredging Corp zoomed 17 per cent. ICRA plunged 8 per cent while IFB Industries and Dixon Tech fell 5 per cent each.
We have Narendra Solanki of Anand Rathi Shares & Stock Brokers to share his views on the market.
Welcome to the show sir.
1) How should traders position themselves in such a volatile market?
2) With vaccination drive in place, do you think the second wave of Covid is unlikely to be worse than the first wave, for the economy and the market?
We also caught up with Ashis Biswas of CapitalVia Global Research to decode the charts for you.
Hello Mr Biswas
1) When it was looking like the Nifty will make a bottom at Friday’s low, it has fallen once again on Monday. Why?
2) What are your readings of Nifty Bank charts?
Other Asian markets settled mostly mixed; European markets were also trading mixed 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!
