HC grants relief to ZEE in Invesco case
India’s tax revenues likely to beat forecast
Indians await WHO nod for Covaxin to travel
China locks down Lanzhou over Covid
And
Centre aims to privatise 13 airports by March, list sent to aviation ministry
Let us take a quick glance at what happened on Dalal Street today.
Domestic equity markets extended the gains for the second straight session, thanks to upbeat Q2 numbers from India inc and buying ahead of the festive season. Firm global cues boosted morale, but FII outflows kept a check on gains. Strong buying in realty, consumer durable, metals, media and auto sectors outweighed the selling pressure in private lenders. The BSE barometer Sensex gyrated in the 700 point range during the session. It gained more than 380 points to close at 61,350. Its broader peer, Nifty50, settled at just shy of 18,270, 143 points higher. The NSE barometer scaled the 18,300 mark during the day but gave up some gains. The broader markets outperformed the headline peers as BSE midcap and smallcap indices rose 2 per cent each. Fear gauge India VIX eased 5 per cent, slipping below 17-level.
On BSE Sensex, Tata Steel soared 4 per cent, followed by Titan, Nestle India, Bajaj Finance and Tech Mahindra, which surged 3 per cent each. Kotak Mahindra, Reliance, Ultratech Cement and Asian Paints gained 2 per cent each. ITC, Bajaj Finserv, SBI, Bajaj Auto, Airtel, L&T, HDFC and Maruti added a per cent each.
IndusInd Bank tanked 2 per cent, most among the losers. ICICI Bank, Power Grid and HUL shed a per cent each. NPTC, Dr Reddy’s Labs, Axis Bank, TCS, HDFC Bank and Infosys also settled in red. More than 332 stocks hit upper circuit limits for the day and the over 205 stocks hit the lower circuit. More than 60 stocks tested their 52-week highs during the session.
We have Ajit Mishra of Religare Broking to share his views on the day’s action and the road ahead:
Welcome to the show sir:
1. A third of the Nifty50 companies have announced their quarterly results so far. How will you rate them?
2. Investors bought recent dips in the market. What is your suggestion to them?
We also caught up with Rohit Singre from LKP Securities to decode the technical charts for you.
1. Nifty50 scaled 18,200 mark again. Where is it headed now?
2. Nifty Bank remained subdued during the day. What is your take on it?
Asian markets settled 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!
