No plan to print currency notes to tide over crisis: FM
Bank NPAs decline to Rs 8.34 lakh cr: MoS Finance
Auto component industry revenues to grow by 23% in FY22
Ruchi Soya and CarTrade expected to get SEBI’s nod this week
16,527 companies struck off during April 2020-June 2021: Govt
Let us take a quick glance at what happened on Dalal Street today.
Domestic benchmark indices kicked off the week on a negative note as the weak global sentiment weighed on the Indian markets. Rising Covid-19 cases in Asia dampened the sentiments. Banking stocks were under pressure, which offset the buying demand of pharma and metal counters. BSE Sensex shed about 125 points to settle above 52,850-mark. Nifty50 retreaded 32 points to end the day at 15,824. BSE midcap and smallcap index outperformed, ending with mild gains. Fear gauge India VIX jumped 6 per cent, crossing 12-mark.
On BSE Sensex, Bajaj Finserv and Ultratech Cement, led the gainers, jumped 2 per cent each. Sun Pharma, Titan, Tata Steel and Kotak Mahindra Bank added one per cent each. On the flip side, SBI, Reliance and M&M declined over a per cent each. Tech Mahindra, L&T, Bharti Airtel, HDFC, IndusInd Bank and Maruti Suzuki shed up to a per cent each. About 600 stocks hit upper circuit limits for the day and 210 stocks tested their 52-week highs during the day.
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 sir:
1. What weighed on the market sentiments today?
2. Many lenders are set to release their Q1 results this week. How should investors position themselves in financial stocks?
We also caught up with Nirav Chheda of Nirmal Bang Securities to decode the technical charts for you.
1. Nifty50 remained in a tight range during the session. What are technical charts suggesting?
2. Fear gauge jumped 6% today. Yet it has been hovering at lowest levels since Feb 2020. What is that it is hinting at?
Asian markets ended lower for the day. Major European markets were trading with losses in the first few hours of trade. US stock futures were down hinting towards a negative 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!
