First, let’s start with the top headlines at this hour.
Sebi gives green signal to Zomato’s over $1 billion IPO
Indian market very expensive; China, Japan much cheaper, says Nomura
Paytm to file draft prospectus next week for $2.3 bn IPO
Anant Ambani joins as board member on RIL’s 2 new solar companies
State-run Coal India exports coal for first time
Now, let us take a quick glance at what happened on Dalal Street today.
Domestic equity markets kicked off the week on a stronger note, building on gains registered in the previous session. Financial and metal stocks were in high demand, pushing Dalal Street higher, as traders shrugged off disappointing macro data. Sensex gained 395.33 points to settle at 52,880. Nifty50 gained 122 points to close at 15,834. BSE midcap and smallcap indices ended higher. Fear gauge India VIX eased marginally.
On Sensex, SBI and Tata Steel led the gainers, adding 2 per cent each. They were followed by L&T, Bajaj Finserv, Axis Bank, Bajaj Finance, M&M and ICICI, which ended a per cent higher each. On the flipside, Tech Mahindra shares declined over a per cent, followed by Dr. Reddy’s, which fell half a per cent. HCL Tech, Titan, Airtel, TCS and Sun Pharma ended in the red.
We have Narendra Solanki from Anand Rathi Financial Services to share his views on the day’s action and the road ahead:
Welcome to the show, Mr Solanki:
1. With the market near record highs, do you see sectoral churning ahead? Are there any lagging sectors that may perform well going ahead?
2. Dalal Street is seeing strong market debuts of late. What would be your advice to investors?
We also caught up with Nirav Chheda of Nirmal Bang Securities to decode the technical charts for you.
1. What do the technical charts suggest about Nifty50?
2. Nifty Bank has performed well after lagging for some days. Do you see this momentum continuing?
Asian markets ended mixed for the day. Major European markets were trading lower in the first few hours of trade. US stock futures were trading flat. Wall Street will remain closed on Monday.
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!
