Delhi HC orders CCI to rule on Amazon-Future dispute within 2 weeks
Diesel demand dips in first half of November
India’s vegetable oil imports cost a record $15.7 billion
Punjab may see 300% rise in Covid cases
And
China overtakes US as world’s richest nation as global wealth surges
Let’s take a quick glance at what happened on Dalal Street today.
Domestic equity markets were back in the red on Tuesday, thanks to the fag-end selling. Bears took over Dalal Street as inflation worries spooked traders. Also, the negative commentary of pricey equity valuations from RBI made sentiments jittery, whereas global cues lent support to buying. Barring auto and IT stocks, all other sectors disappointed, especially banking and pharma. BSE Sensex tanked about 400 points to close near the 60,325 mark. Its broader peer, Nifty50, bled more than 110 points to settle just a point below 18,000. Broader markets ended the day mixed as BSE Midcap index ended the day in red, whereas BSE Smallcap index gained marginally. Fear gauge India VIX eased about 2 per cent.
On BSE Sensex, Maruti Suzuki surged 7 per cent, followed by a 3 per cent rise in M&M. Tech Mahindra rose 2 per cent. L&T, Bajaj Finance, Infosys, Bajaj Finserv, Bajaj Auto and TCS were other stocks which were able to end the day in green. On the other hand, Reliance tanked 3 per cent, whereas SBI, Ultratech, NTPC, IndusInd Bank and Sun Pharma shed 2 per cent each. Tata Steel, Dr Reddy’s Labs, ICICI Bank, ITC, Bharti Airtel, Axis Bank and HDFC gave up a per cent each. More than 360 stocks hit upper circuit limits for the day and about 240 stocks hit the lower circuit. More than 80 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 were the reasons behind the sharp sell-off in the last few minutes?
2. Would you suggest investors to stick to largecaps considering the current volatility?
We also caught up with Rohit Singre of LKP Securities to decode the technical charts for you.
1. Nifty breached 18,000 mark during the session. Where is it headed?
2. Nifty Bank has been showing weakness for quite long. What is your take on it?
Asian markets settled higher for the day. Major European markets were trading mostly within the first few hours of trade. US stock futures were flat hinting towards a muted 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!
