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Let us take a quick glance at what happened on Dalal Street today.
Benchmark equity indices ended flat after a volatile session. Fag-end buying in index heavyweights like HUL, Bhari Airtel and select financial stocks dragged the markets higher from day’s low. Nifty50 shed merely 8 points, to end the week at 15,683. Sensex recovered over 730 points from day’s low to end marginally up at 52,344. BSE Midcap and Smallcap indices underperformed, declining a per cent each, whereas fear gauge India VIX eased 3 per cent.
On Sensex, HUL and Bajaj Auto, led the gainers, adding 3 per cent each. They were followed by Bharti Airtel and Bajaj Finserv, which jumped 2 per cent each. HDFC Bank and IndusInd Bank were up by a per cent. On the flip side, ONGC tanked 4 per cent. NPTC, Power Grid and M&M shed 3 per cent each. SBI and Nestle ended 2 per cent lower. About 375 stocks hit upper circuit limits for the day and about 140 stocks tested their 52-week highs during the day.
We have Gaurav Garg from CapitalVia Global Research with us to share his views on the day’s action and the road ahead:
Welcome to the show, sir:
>> What has triggered the market fall? You see the dollar rise as a threat to domestic equities?
>> What is your take on metals and oil & gas stocks?
We also caught up with Nilesh Jain of Centrum Broking to decode the technical charts for you.
>> Nifty has been volatile throughout the week. What should one expect in the coming days?
>> Nifty Bank briefly breached 34,000 mark in today’s session. What are technical charts suggesting?
Most Asian markets ended mixed for the day. Major European markets were trading lower in the first few hours of trade. US stock futures were hinting at a muted 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!
