Tata Motors surges as Big Bull & marquee investors meet co’s top brass
Electrode maker HEG is Jefferies’ multibagger bet for FY22
NCLT approves Piramal’s DHFL resolution plan
Delhivery to list in 6 months, may raise $500 million
China trade surges as global demand rebounds
Let us take a quick glance at what happened on Dalal Street today.
Domestic equity indices kicked off the week on a strong note with benchmark indices scaling new highs. Investors were optimistic as lockdown restrictions are eased in many states, which may help restart the economic recovery. Nifty hit a new high of 15,773 before closing at 15,752, 81 points higher. BSE Sensex gained 228 points to close at 52,328, 50 points away from its day’s high. Both indices registered record closing highs. Fear gauge India VIX eased 2.3 per cent.
In the bond market, the 10-year benchmark government bond ended largely flat at 6.02 per cent, while the rupee closed slightly higher at 72.8 against the greenback.
We have Narendra Solanki of Anand Rathi Financial Services to share his views on the day’s action and the road ahead:
Welcome to the show, Mr Solanki:
>> With many states announcing unlocking plans, how quickly do you see the economy recovering? Which sectors are likely to gain the most?
>> Sugar stocks are on a roll these days. Do you see them as a structural play?
We also caught up with Ashis Biswas of CapitalVia Global Research to decode the technical charts for you.
>> Nifty50 is trading between 15,600 and 15,800. Do you see rangebound trade to continue in the coming days?
>> What do the technical charts suggest for Nifty Bank?
Most Asian markets ended higher for the day. Major European markets were trading with mild gains in the first few hours of trade. US stock futures were hinting at a gap-down start on Wall Street 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!
