First, let’s start the top headlines at this hour.
Nifty EPS projections back above pre-pandemic level
Gautam Adani plans to turn his business carbon negative
Indians investing in overseas stocks make a killing in first half of 2021
June manufacturing activity contracts after 11 months, PMI below 50
Air travel may become costlier as jet fuel prices soar
Vi blames low tariffs for failure to attract investors
Now, let us take a quick glance at what happened on Dalal Street today.
Domestic equity benchmarks extended their losing streak to the fourth session in a row on Thursday amid selling pressure seen in heavyweights such as HDFC twins, Reliance and Infosys. Buying in auto and pharma stocks helped Dalal Street pare the intraday losses. Sensex shed 164 points to close at 52,318. Nifty50 gave up 42 points to settle at 15,680. The BSE midcap index ended in the red and the smallcap index rose mildly. Fear gauge India VIX eased 2 per cent.
On Sensex, Bajaj Finserv was the top laggard, falling over 2 per cent. Infosys, Ultratech Cements, Tech Mahindra, IndusInd Bank and Bajaj Finance were among other losers, shedding a per cent each. On the flipside, Dr Reddy’s Lab was the top gainer, jumping 3 per cent. Bajaj Auto gained 2 per cent. Sun Pharma, Asian Paints and Maruti added a per cent each.
We have Vinod Nair from Geojit Financial Services to share his views on the day’s action and the road ahead:
Welcome to the show, Mr Nair:
1. Do you think this time-wise correction in the market will last long?
2. July looks set to see a flurry of IPOs. What would be your advice to investors?
We also caught up with Ashis Biswas from CapitalVia Global Research to decode the technical charts for you.
1. Are you seeing any deterioration in Nifty’s technical indicators?
2. What is your take on Nifty Bank?
Most Asian markets ended lower for the day. Major European markets were trading higher in the first few hours of trade. US stock futures were hinting at a muted start on Wall Street 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!
