Tata Motors reports surprise net loss of Rs 7,605 cr
Crude hits $70 as US, European economies reopen
Morgan Stanley sees Sensex at 61,000 by Dec end
Home sales in top 7 cities jump 21% in Q1
Cyclone Tauktae on western coast weakens further
India logs 4,329 Covid deaths in single day
Cairn’s AI lawsuit may not delay selloff plan
Let us take a quick glance at what happened on the Dalal Street today.
Dalal Street stocks continued to rally for the third straight session, thanks to brisk buying in heavyweight financials and IT stocks. Shares of automobile makers gained, so did oil & gas stocks, as 26 of 30 Sensex stocks ended higher. The 30-pack index advanced 613 points to close near the 50,200-mark, adding some 1,500 points in the three-day winning run. Nifty50 topped 15,100. Auto makers led the gainers’ list with M&M climbing 6 per cent and Bajaj Auto jumping 5 per cent. Passenger vehicle maker Maruti also gained 1 per cent. Among financials, Bajaj Finance added nearly 5 per cent, followed by HDFC Bank, IndusInd Bank, ICICI Bank, which rose up to 3 per cent. Investors continued to punish Bharti Airtel, which fell 2.4 per cent, in addition to a similar fall in the previous session after less-than-expected quarterly results. ITC declined 1 per cent, while Dr Reddy’s Labs fell 0.7 per cent.
We have Ajit Mishra of Religare Securities with us to share his views on the market:
Two back-to-back days of strong gains. Can we revisit record highs in coming days?
If lockdown restrictions are eased in the coming month, which stocks or domestic themes do you think can gain the most?
We also caught up with Rohit Singre of LKP Securities to decode the technical charts for you.
Today’s strong close for Nifty50 was as convincing as Monday’s. But can we see profit taking ahead?
What is your reading of Nifty Bank charts? What should traders do?
Asian markets ended mostly higher. European markets were trading higher in the first few hours of trade. US stock futures were hinting at 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!
