Banks to withstand bad loan surge, says Moody’s
Govt open to tax cut to pull auto sector out of the worst crunch in decades
Ajay Kumar appointed as new RBI Executive Director
Barclays infuses Rs 3000 cr into India operations
Reliance seeks nod for trial of its vaccine
and
Global oil majors may be joining race to acquire BPCL, says Report
Let us take a quick glance at what happened on Dalal Street today.
Domestic equity markets ended flat, with marginal gains, on Thursday. Despite August series F&O expiry, the benchmark indices remained range bound with a positive bias. Mixed global cues added to the volatility. Investors globally are awaiting the Jackson Hole Economic Symposium on Friday. BSE Sensex gyrated in the range of 250 points, but settled just below 55,950, adding only 5 points. Nifty50 ended almost unchanged at 16,637, merely 2 points higher. Broader markets outperformed as BSE midcap and smallcap indices posted decent gains. Fear gauge India VIX increased marginally.
On BSE Sensex, Bharti Airtel tanked over 4 per cent, leading the losers. Maruti shed 2 per cent. Power Grid, SBI, Tata Steel, NTPC, Sun Pharma, Dr Reddy’s Labs and Tech Mahindra declined a per cent each. Among the gainers, Reliance, M&M, HCL Tech, ICICI Bank, Axis Bank and HUL added up to a per cent each. Over 370 stocks hit upper circuit limits for the day, whereas more than 190 stocks hit the lower circuit. About 55 stocks tested their 52-week highs during the session.
We have Vinod Nair of Geojit Financial Services to share his views on the day’s action and the road ahead:
Welcome to the show sir:
1. Thursday’s session was largely range bound despite the monthly F&O expiry. What factors may influence the sentiment going ahead?
2. Which sectors look attractive to you in the current scenario? How should investors play those themes?
We also caught up with Rohit Singe of LKP Securities to decode the technical charts for you.
1. What do charts suggest about the Nifty50 movement? Where is it headed?
2. Do you see any reversal in Nifty Bank, which has been underperforming Nifty50 for some time?
Asian markets ended mostly with cuts for the day. Major European markets were trading in red in the first few hours of trade. US stock futures were lower 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!
