Nifty gains for fourth straight day, settles above 15,850
India reports 60,471 new cases in last 24 hours; lowest since March 31
Bharat Biotech says it will have to raise Covaxin price for private market
CCI to expedite probe against Flipkart, Amazon
HDFC Bank again faces app blackout
RBI to focus on growth despite inflation worries
Let us take a quick glance at what happened on Dalal Street today.
Domestic equity markets extended their winning streak to fourth straight day, thanks to buying in banking and FMCG counters. Benchmark indices once again scaled new lifetime highs. Nifty50 briefly kissed the 15,900 mark, but closed at 15,858, up 46 points. BSE Sensex inched towards 53,000 mark, but ended the session at 52,773, adding 222 points. Broader markets outformed whereas fear gauge India VIX eased marginally.
Asian Paints led the rally among gainers on BSE Sensex, rising 3 per cent. It was followed by Axis Bank and ICICI Bank, both adding 2 per cent each. HUL, IndusInd Bank and Infosys jumped 1 per cent each. On the flip side, Bajaj Finserv, Dr. Reddy’s, Titan and Sun Pharma declined one per cent each. About 564 stocks hit upper circuit limits for the day and 240 stocks tested their 52-week highs during the day.
We have Ajit Mishra of Religare Broking with us to share his views on the day’s action and the road ahead:
Welcome to the show, sir:
>> With the market scaling new highs, which are the sectors that you find expensive? Where do you see value?
>> IT stocks are in news, thanks to a strong dollar, and resulting weakness in the rupee. Do you see this rupee tailwind to stay going ahead?
We also caught up with Rohit Singre of LKP Securities to decode the technical charts for you.
>> Nifty50 briefly hit 15,900 levels today. Do you see more upside in coming sessions?
>> Nifty Bank led the rally after a brief pause. Do you see the correction ending for bank stocks?
Most Asian markets ended mixed 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 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!
