Investors richer by Rs 1.35 lakh cr as Sensex surges 593 pts
L&T’s employee welfare arm probed for alleged fraud
Airtel, Jio conclude spectrum trading agreement
PM Modi launches vehicle scrappage policy
Air travel becomes costlier by up to 12.82%
Global crypto market hits $2 trillion mark
Let us take a quick glance at what happened on Dalal Street today.
Buying in index heavyweights such as TCS, Reliance Industries and the HDFC twins pushed benchmark indices to fresh record high on Friday. The BSE Sensex closed above 55,400, adding 564 points. Nifty50 took its winning streak to the fifth straight session as it topped 16,500 in a first. A total of 343 stocks hit their respective upper circuit limits during the day, while 232 stocks climbed to 52-week highs. That said, declines still outnumbered advances, suggesting caution in the broader market.
Among largecaps, TCS and L&T advanced 3 per cent each while Airtel, HCL Tech and Tata Steel added 2 per cent each. Power Grid, Dr. Reddy’s Labs and IndusInd Bank were among the few stocks that fell 1 per cent each for the day. Fear gauge India VIX climbed 5 per cent to 12.99 level, suggesting volatility ahead.
We have Arijit Malakar of Ashika Stock Broking with us to share his views on the day’s action and the road ahead:
Welcome to the show, sir:
1) Markets are trading at record levels. Should investors book some profits?
2) Broader markets are underperforming the benchmark indices. What should investors do?
We also caught up with Nilesh Jain of Centrum Broking to decode the technical charts for you.
1) Nifty scaled the 16,500 mark today. What is the next target for the index?
2) Nifty Bank has been lacking strength lately. Where is it headed?
Asian markets ended mostly lower for the day. Major European markets were trading mixed in the first few hours of trade. US stock futures were trading flat, hinting towards a muted 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!
