Ola brings in Temasek, Warburg Pincus ahead of IPO
TCS to hire 40,000 graduates from Indian campuses
WhatsApp falls in line on privacy policy
Sputnik V vaccination drive from July 12 in Tamil Nadu
Economy recovering due to targeted fiscal relief, rapid vaccination: Finance Ministry
Let us take a quick glance at what happened on Dalal Street today.
Domestic equity markets ended the week in red as weak global sentiments weighed on benchmark indices. The pace of vaccination capped losses in the Indian market. Selling in larger banks pushed the market lower, but the demand in metal stocks lifted the sentiments. BSE Sensex shed over 180 points to settle at 52,386. Nifty50 declined over 38 points to end the week below 15,700 level. BSE midcap and smallcap indices ended with gains. Fear gauge index India VIX shed 5 per cent, breaching 13 level.
Bajaj Auto and TCS, led the losers, declining 2 per cent each. They were followed by HDFC Bank, Axis Bank, Reliance, Tech Mahindra and Kotak Mahindra Bank which shed a per cent each. Bajaj Finance, HDFC Bank and Axis Bank fell over a per cent each. On the flip side, Tata Steel and Bajaj Finserv surged 4 per cent each, whereas Bharti Airtel gained 2 per cent. NPTC, Sun Pharma and Bajaj Finance ended with mild gains. About 460 stocks hit upper circuit limits for the day and over 140 stocks tested their 52-week highs during the day.
We have Arijit Malakar from Ashika Stock Broking to share his views on the day’s action and the road ahead:
Welcome to the show sir:
1. Do you think the Street expectations are high and that Q1 numbers can actually disappoint?
2. Is the ongoing market correction healthy? How much downside can we see from here?
We also caught up with Nilesh Jain of Centrum Broking to decode the technical charts for you.
1. Do you see fatigue on Nifty50 charts?
2. What’s your take on Nifty Bank?
Asian markets ended lower for the day. Major European markets were trading with gains in the first few hours of trade. US stock futures were up hinting towards a positive 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!