D-Street investors mint Rs 2.5L cr as Sensex rallies 976 points
SBI Q4 profit soars 80% YoY as provisions drop
India 10-year bond yield poised for 5th weekly fall
RBI okays transfer of Rs 99,122 crore as surplus
SC allows personal bankruptcy cases on tycoons
Petrol nears Rs 100 a litre mark in Mumbai
Daily Covid positivity rate in India dips to 12.59%
Let us take a quick glance at what happened on Dalal Street today.
A jump in bank and IT stocks, optimism over recent fall in Covid cases, easing of lockdown restrictions in some states and strong quarterly numbers from bluechip companies pushed domestic stocks higher on Friday. Positive global cues added to the sentiment, as the BSE Sensex rallied 976 points to end above 50,500 level. Nifty surged 1.8 per cent and closed above its psychological mark of 15,550-mark.
Nifty50 constituent SBI jumped 5 per cent after reporting an 80 per cent surge in Q4 profit. Peers HDFC Bank, IndusInd Bank and ICICI Bank climbed 4 per cent each, helping the index post solid gains for the day. JSW Steel and Hindalco also gained after reporting multifold jumps in their Q4 bottom lines.
Stocks such as Bharti Airtel, M&M, UPL and Tata Motors added 1.5-2 per cent. But sugar stocks such as Bajaj Hindusthan, Sakthi Sugars, Simbhaoli Sugars and Dharani Sugars fell 5 per cent each after the government decided to cut sugar export subsidies for the current season. In the broader market, every two of three stocks settled lower. A total of 327 stocks hit fresh 52-week highs, while 440 stocks hit their respective upper circuit limits. Fear gauge India VIX eased 3 per cent to 19 level, comforting the bulls .
We have Paras Bothra of Ashika Stock Broking to share his views on the market:
Welcome to the show, sir:
With the bouts of buying seen this week, do you think that the market is looking forward to unlock 2.0 and recovery in the global economy?
Can you name a few Nifty stocks that you see performing well going ahead?
On technical charts, we caught up with Nilesh Jain of Centrum Broking to decode the charts.
Nifty has taken out the crucial 15,150 level. Do you see more gains ahead?
How would you read Nifty Bank’s outperformance today?
Asian markets ended mixed for the day. European markets were trading higher in the first few hours of trade. US stock futures were hinting at a positive 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!
