Zydus gets emergency use nod for Covid treatment drug
India Ratings cuts India’s FY22 GDP growth forecast to 10.1%
J&J Covid-19 vaccine expected to be imported to India by July
HCL Q4 consolidated net profit falls 26% QoQ
Bitcoin plunges below $50,000
Let us take a quick glance at what happened on the Dalal Street today.
Benchmark indices gave up morning gains to settle lower on Friday. Sensex slipped below the 48,000-mark to eventually settle 202 points lower at 47,878 level. Nifty50 fell half-a-per cent to close below 14,350. The gains seen in HDFC, Axis Bank and Power Grid were offset by losses in Infosys, ICICI Bank and Hindustan Unilever. Broader market sentiment largely remained positive.
Among the key Sensex losers, M&M, Dr Reddy’s Labs and Tech Mahindra fell 2-3 per cent. Bharti Airtel, ICICI Bank, Titan and Infosys fell at least 1 per cent. On the flip side, Power Grid and NTPC advanced 3-4 per cent. Axis Bank, IndusInd Bank and HDFC added 1-2 per cent.
We have with us Asutosh Mishra, Institutional Equity at Ashika Stock Broking, to share his views on the market.
Welcome to the show sir.
1) How much of the second wave of Covid the market is pricing in? Do you see scope of 5-10% downside?
2) Which are the sectors one should look at buying and why?
We caught up with Nilesh Jain of Centrum Broking to decode the technical charts for you.
1) Nifty on Friday saw selling pressure at high levels. Where is it headed?
2) Nifty Bank fared better than the key index. What are the charts suggesting there?
Asian markets, baring Japan, ended positive for the day. European markets were trading lower in the first few hours of trade. US stock futures were hinting at a flat 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!
