Tata Sons mulling leadership makeover of $106 billion empire, may create space for CEO
Airtel plans co-branded handsets to take on Jio in move to ringfence 2G subscribers
Finance Minister to look into bottlenecks that push IT companies to register abroad
South Korea to fine Google $177 mn for forcing software
Vinod Kannan to become Vistara’s new CEO
India and Singapore to link UPI and PayNow
And
WPI inflation rises to 11.39% in August
Let us take a quick glance at what happened on Dalal Street today.
Domestic equity markets were back in green on Tuesday, though the actions remained lacklustre and benchmark indices wiped off most of their early gains. Hopes of an extended monetary stance boosted the morale of traders. Media stocks stole the spotlight, after the shareholder activism in Zee Group. Banks also saw buying action, which was offset by FMCG and metal players. BSE Sensex added only 70-odd points to close just shy of 58,250, about 235 points below day’s high. Nifty50 gained 25 points to end the day at 17,380. The index was just 13 points above it’s day’s low. Broader markets outperformed as BSE midcap and smallcap indices added up to a per cent each. Fear gauge India VIX eased over 3 per cent, breaching 14-level.
On BSE Sensex, IndusInd Bank led the gainers, jumping 4 per cent, followed by HCL Tech which surged 3 per cent. Kotak Mahindra Bank, Bajaj Auto and Tech Mahindra gained 2 per cent each. L&T, Titan, TCS, ITC and Axis Bank added a per cent each. On the other hand, HDFC, Nestle, Ultratech Cement, HUL and Tata Steel shed up to a per cent each. They were followed by Bajaj Finserv, Bajaj Finance and HDFC Bank. Over 395 stocks hit the upper circuit limits for the day, whereas about 175 stocks hit the lower circuit. About 130 stocks tested their 52-week highs during the session.
We have Ajit Mishra from Religare Broking to share his views on the day’s action and the road ahead:
Welcome to the show sir:
1. India’s macros are improving and the domestic market is rejoicing. Can a third Covid wave play spoilsport?
2. Should one consider stocks of companies where corporate governance issues are being addressed?
We also caught up with Rohit Singre of LKP Securities to decode the technical charts for you.
1. Nifty could not hold 17,400 for long. Where is it headed?
2. Nifty Bank outperformed today. What is your take on it?
Asian markets ended mixed for the day. Major European markets were trading with mild 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!
