India’s business activity saw its steepest weekly fall in over a year: Nomura
Maruti’s Q4 profit drops 10%, sales up 32%
Axis Bank posts Rs 2,677 crore Q4 profit; net interest income rises 11%
Bajaj Finance Q4 PAT jumps 30% YoY
Gujarat announces new curbs; Night curfew in Assam till May
Let us take a quick glance at what happened on the Dalal Street today.
Benchmark indices recorded over 1 per cent gain for the second straight session on Tuesday, ahead of Thursday’s monthly futures & options expiry. A fall in daily Covid cases and an appreciation in rupee for the second day eased fears of foreign outflows. Sensex rose 558 points and closed near the 49,000 mark. Nifty advanced 1.16 per cent and settled above 14,650. The rally was broad-based with every two stocks on BSE rising for the one that fell. A total of 366 stocks hit upper circuits while 216 stocks hit 52-week highs for the day. The list included Tata Steel, ICICI Prudential Life, NMDC, Divis Labs and JSW Steel.
L&T and Bajaj Finance led the Sensex pack rising 3 per cent each. Reliance Industries, IndusInd Bank, SBI and HDFC Bank rose 2-3 per cent. Maruti fell 1 per cent after Q4 miss. NTPC, Kotak Mahindra Bank and Nestle India edged lower.
We have with us Ajit Mishra of Religare Securities to share his views on the market.
Welcome to the show sir.
1) What made the market gain for the second straight day?
2) Do you see the recent trend of FPI outlfows to continue going ahead?
We also caught up with Rohit Singre of LKP Securities to decode the technical charts for you.
1) Do you see more upside for Nifty50 after Tuesday’s trade?
2) Can we expect the outperformance of Nifty Bank to continue?
Asian markets ended mostly mixed for the day. European markets were trading lower in the first few hours of trade. US stock futures were also 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!
