Paras Defence IPO sees over 300 times subscription!
Airtel’s Rs 21,000 cr rights issue to open on Oct 5
Finance Ministry likely to pitch for a ratings upgrade from Moody’s
80% patent fees cut announced for educational institutions
Freshworks’ US IPO listing made 500 employees crorepatis
and
UTI Credit Risk Fund’s NAV jumps 8.44% in a day
Let us take a quick glance at what happened on Dalal Street today.
The bulls took charge on Dalal Street, as benchmark indices hit fresh records on Thursday amid receding global worries. Index heavyweights Reliance Industries and half a dozen banking and financial names joined hands, giving BSE benchmark Sensex its biggest daily gains in four months. At close, Sensex was up 958 points. It was just 115 points away from the magical 60,000 mark. Nifty50 too cleared 17,800 hurdle in a style and looked poised for 18,000 level in coming days. A total of eight Sensex stocks such as RIL, TechM, L&T, Kotak Bank and NTPC hit fresh 52-week highs. Among largecaps, Bajaj Finserv, Hindalco, L&T and surged 4-5 per cent. Tata Motors, Coal India, HDFC, Axis Bank and ONGC climbed 3-4 per cent each. Index heavyweight Reliance ended 2.4 per cent higher. The day saw two out of every three stocks rising on BSE. About 250 stocks hit their fresh 52-week highs for the day.
We have Vinod Nair, Head Of Research at Geojit Financial Services, to share his views on the day’s action and the road ahead:
Welcome to the show sir:
1. With concerns easing over Fed taper and Evergrande crisis, do you think this market may see more gains ahead?
2. Which sectors or themes do you think can deliver strong returns going ahead?
We also caught up with Rohit Singre of LKP Securities to decode the technical charts for you.
1. Nifty50 hit 17,800 level today. Do you see it hitting 18,000 soon?
2. Is Nifty Bank outperformance here to stay?
Major Asian markets settled higher for the day. European markets were also trading higher in the first few hours of trade. US stock futures were quoting half a per cent higher, hinting towards 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!
