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Let us take a quick glance at what happened on Dalal Street today.
Dalal Street extended gains to a second straight session on Friday thanks to buying in metal and banking counters, which offset a sellof in heavyweight Reliance Industries. The market danced to the global tune amid a higher possibility of the successful passing of the $1 trillion infrastructure bill in the US. Sensex added 226 points to end at 52,925. Nifty50 closed at 15,860, up 70 points. BSE Midcap and Smallcap indices gained between half a per cent and one per cent. Fear gauge India VIX eased 11 per cent, slipping below the 14 mark.
Tata Steel led the gainers on Sensex, surging 5 per cent. It was followed by Axis Bank and SBI, gaining 3 per cent each. ICICI Bank and Maruti Suzuki rose 2 per cent each. On the flipside, Reliance Industries was the worst hit stock in both indices, declining over 2 per cent. NTPC, HUL, and Asian Paints dropped between 1 per cent and 2 per cent each.
We have Asutosh Mishra from Ashika Stock Broking to share his views on the day’s action and the road ahead:
Welcome to the show, Mr Mishra:
1. What is keeping upside capped for the market?
2. Are there any underperforming Nifty50 cos that you are bullish on?
We also caught up with Nilesh Jain from Centrum Broking to decode the technical charts for you.
1. What is the broader Nifty range that one can see in the July F&O series?
2. What is your take on Nifty Bank?
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 positive 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!
