> Domestic air passenger traffic up 67% in Oct
> India could ship vaccines to COVAX soon
> Non-basmati rice exports may shrink in 2022
> UK to add Covaxin to okay list from Nov 22
> TVS eyes $500 million for EV subsidiary
> UP crime branch send notices sent to Dish TV, YES Bank
Now, let us take a quick glance at what happened on Dalal Street today.
Domestic equity markets wiped out early gains to settle lower on Tuesday as investors booked profits following a two-day rally. Dull global cues also weighed on the sentiments back home as traders cautiously awaited the US inflation data. The selling pressure was visible in private lenders, metals and FMCG counters while investors lapped up shares of autos, public lenders, oil & gas and pharma companies.
The BSE barometer Sensex gave up more than 110 points to close at 60,433. Its broader peer Nifty50 could not hold 18,100 for long and finally settled below 18,050. Broader markets ended higher, outperforming the headline peers. BSE Midcap and Smallcap indices ended a per cent up each. Fear gauge India VIX eased over 2 per cent and settled at 16-level.
M&M shares zoomed more than 5 per cent, the most on BSE. L&T, SBI, ICICI Bank, Reliance and IndusInd Bank added a per cent each. Bharti Airtel, Tech Mahindra, Bajaj Auto, Sun Pharma and Asian Paints also posted decent gains.
On the other hand, HDFC Bank tanked 2 per cent, followed by HDFC, Maruti Suzuki, NPTC, Bajaj Finance, Kotak Mahindra Bank, Titan and Power Grid, which shed a per cent each. Bajaj Finserv, Axis Bank, HCL Tech, Nestle, Axis Bank and Ultratech Cement were among other losers. More than 375 stocks hit upper circuit limits for the day and about 150 stocks hit the lower circuit. Over 120 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. What is making domestic stocks so volatile these days?
2. Given the volatility, would you advise investors to stick with largecaps?
We also caught up with Rohit Singre from LKP Securities to decode the technical charts for you.
1. Nifty50 faced hurdles at 18,100. What are charts suggesting?
2. Nifty Bank has been under pressure of late. What is your take on it?
Asian markets 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 today.
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!
