CIL says coal supply to improve post Puja
India gets third set of Swiss bank details
Macrotech inks 5 JVs in H1 to build projects
Power outages risk to growth, says Nomura
Finance Ministry releases Rs 9,871 cr grant to 17 states
And
Invesco breaks silence on Zee, says deeply disappointed with board and governance standards of company
Let’s take a quick glance at what happened on Dalal Street today.
Domestic equity markets kicked off the new week on a higher note, scaling new lifetime highs. However, the profit booking in the fag-end of the session dragged the benchmark indices lower. Disappointment of IT stocks offset the gains of banking, auto, realty and power players. Weaker global cues also made the sentiments jittery in the second half of the session. BSE Sensex, which gyrated in the range of 665 points, gave up its most of the early gains to settle at 60,135, just 77 points higher. Nifty50 scaled 18,000 for the first time. It pared most of the day’s gains to close just 5-odd points below 17,950. Broader markets outperformed as BSE midcap and BSE smallcap indices settled with gains of more than half a per cent each. Fear gauge India VIX spiked 3 per cent, crossing above the 16 level again.
On BSE Sensex, Maruti Suzuki led the gainers, zooming 4 per cent. Power Grid, ITC, NTPC and SBI gained 3 per cent each. M&M, Kotak Mahindra Bank and HDFC Bank jumped 2 per cent each. ICICI Bank, Sun Pharma, Dr Reddy’s Labs, HDFC, Bajaj Finance and Bajaj Finserv added over a per cent each. On the other hand, TCS bled over 6 per cent. Other IT players like Tech Mahindra, Infosys and HCL Tech fell 2-3 per cent each. Reliance, Bharti Airtel and L&T shed up to a per cent each. IndusInd Bank, Asian Paints and Ultratech Cement also settled in red. More than 510 stocks hit upper circuit limits for the day, whereas about 190 stocks hit the lower circuit. Over 165 stocks tested their 52-week highs during the session.
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. Domestic markets scaled new life highs today. What were the factors behind the optimism?
2. What is your view on the broader market? Can we see midcap and smallcap pockets outperforming in coming months?
We also caught up with Ashis Biswas of CapitalVia Global Research to decode the technical charts for you.
1. Nifty50 topped 18,000 levels on Monday. What is next for the benchmark index?
2. Nifty Bank outperformed Nifty50 for the day. Where is it headed now?
Asian markets settled mixed for the day. Major European markets were trading mostly lower 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!
