Nifty rises for sixth day to close at record high
RIL ends 6% higher after Jeferries’ comment
Tata acquires a majority stake in BigBasket
Govt mulls FDI policy tweak for BPCL privatisation
Pfizer vaccine likely by July; Govt examines indemnity request
India’s daily Covid count drops to lowest in 44 days
Lockdown to be lifted gradually in Delhi from May 31
Let us take a quick glance at what happened on Dalal Street today.
Benchmark indices extended recent gains on Friday, thanks to strong buying seen in Reliance Industries and HDFC twins. The day saw Nifty50 scaling a fresh closing high of 15,449, rising 111 points for the day. The BSE barometer BSE Sensex also gained 308 points to close above 51,400 levels. Midcap and smallcap indices lagged larger peers. Fear gauge India VIX eased 13 per cent.
Reliance Industries rallied 6 per cent on a Jefferies report suggesting 30 per cent upside for the stock. It was followed by HDFC twins and M&M, which gained 2 per cent each.
Amongst the losers, Sun Pharma tanked 4 per cent. Bajaj Finserv, Bajaj Finance, Power Grid and ICICI Bank fell over 1 per cent each. A total of 375 stocks hit upper circuit limits, while over 130 stocks tested their 52-week highs during the day.
We have Gaurav Garg of CapitalVia Global Research to share his views on stocks and sectors:
Welcome to the show, sir:
>> How would you describe this week’s index movements? Do you see profit booking ahead?
>> Which sectors do you see performing in the coming months?
We also caught up with Nilesh Jain of Centrum Broking to decode the technical charts for you.
>> Nifty50 scaled fresh highs today. What levels can we see on the index in the June series?
>> The India VIX has fallen below 18. What is it hinting at?
Asian markets ended mixed for the day. Major 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!
