Sensex tops 53K for first time ever & then retreats
Rising crude prices get Oil India a re-rating
US Fed Chairman Jerome Powell to testify to Congress
NCLT okays Kalrock-Jalan resolution plan for Jet Airways
Norwegian pension fund KLP divests from Adani Ports
Let us take a quick glance at what happened on Dalal Street today.
Domestic equity benchmark indices took a U-turn to end flat on Tuesday. After starting the day on a stronger note, benchmark indices were weighed down by selling pressure in select consumer and financial counters. Sensex raced past 53,000 level for the first time ever, before ending at 52,589, just 14 points higher for the day. Nifty50 added 26 points to end at 15,773. BSE Midcap and Smallcap indices outperformed, whereas fear gauge India VIX eased 2 per cent.
On Sensex, Maruti Suzuki gained the most, up 5 per cent, whereas L&T gained 2 per cent. Ultratech Cement, TCS, Titan, Infosys and Tata Steel gained a per cent each. On the flip side, Asian Paints and Bajaj Finance tanked 2 per cent each. Nestle, HUL, IndusInd Bank and Sun Pharma lost up to a per cent each.
We have Ajit Mishra from Religare Broking to share his views on the day’s action and the road ahead:
Welcome to the show, Mr Mishra:
1. What should investors expect from Jerome Powell’s testimony? What impact could it have on the market?
2. Should one be worried about the weakening rupee? Do you see volatility in foreign flow trends?
We also caught up with Ashis Biswas of CapitalVia Global Research to decode the technical charts for you.
1. Nifty50 was not able to cross 15,900 levels on Tuesday. What do the technical charts suggest?
2. Nifty Bank showed some signs of strength but could not hold gains. Do you see volatility ahead of the expiry of the June series?
Most Asian markets ended higher for the day. Major European markets were trading mixed in the first few hours of trade. US stock futures were hinting at a muted 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!
