Record rally makes investors richer by Rs 2.37 lakh cr
Airtel Q1 PAT dives 63% QoQ to Rs 284 crore
Peak power demand hits new record in July
Adani Ports Q1 PAT rises 72% YoY to Rs 1,307 crore
India’s unemployment rate drops to 13.3% in Q2 from 20.9% in Q1
Let us take a quick glance at what happened on Dalal Street today.
Domestic benchmark indices scripted history on Tuesday as bulls continued to rule Dalal Street, extending the gains to the second straight session. Strong global and macro cues supported the sentiments, leading to buying across the sectors. BSE Sensex rallied close to 900 points to close above the 53,800 mark before hitting a lifetime high of 53,887. The Nifty50 index hit the 16,000 mark for the first time and a new lifetime high of 16,146. The 50-stocks pack surged almost 250 points to settle at 16,131. BSE midcap and smallcap indices underperformed, but ended with mild gains. Fear gauge India VIX jumped over 7 per cent.
On BSE Sensex, Titan Company and HDFC led the gainers’ pack, jumping 4 per cent each. Nestle India, IndusInd Bank, Ultratech Cement, Bharti Airtel, SBI and Sun Pharma each jumped 3 per cent. HUL, Axis Bank, Bajaj Finance, Power Grid, TCS, Asian Paints, Maruti and M&M added 2 per cent each. On the contrary, only three stocks — Bajaj Auto, Tata Steel and NTPC ended in the red on the 30-share pack. Over 520 stocks hit upper circuit limits for the day and about 300 stocks tested their 52-week highs during the day.
We have Ajit Mishra from Religare Broking with us to share his views on the day’s action and the road ahead:
Welcome to the show, sir:
1. Do you expect the market to sustain the recent gains?
2. FPIs are pulling money out of the domestic market. Do you see this trend reversing anytime soon?
We also caught up with Rohit Singre of LKP Securities to decode the technical charts for you.
1. Nifty 50 hit the much awaited 16,000 mark today. Where is it headed?
2. Bank has been unable to outperform the markets. What do technical charts suggest about it?
Asian markets ended mixed 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!
