India to release 5 million barrels of oil from strategic reserves
Goldman Sachs sees India’s GDP at 9.1% in 2022
BlackRock says it’s time to trim India exposure
Voda Idea follows Airtel, announces new tariff plans
SpiceJet to induct 50 Boeing MAX aircraft by 2023
And
Barclays raises 2022 Brent forecast to $80 a barrel
Let’s take a quick glance at what happened on Dalal Street today.
Benchmark indices staged a sharp rebound on Tuesday and, in the process, snapped a four-day losing streak, led by buying in stocks such as Reliance Industries, Bharti Airtel and Larsen & Toubro.
Rebounding 946 points from day’s low, the BSE Sensex settled at 58,664, up 198 points.Nifty 50 settled above 17,500, gaining half-a-per cent. The broader market sentiment also improved, with three stocks ending higher for every stock that fell. Some 456 stocks hit their upper circuit limits against 157 lower circuits. Paytm soared 10 per cent, its first rise since listing. Vedanta jumped 8 per cent; Raymond surged 15 per cent while Glenmark climbed 10 per cent. IndusInd, Asian Paints and Infosys fell 1-3 per cent.
We have Ajit Mishra, VP – Research at Religare Broking, to share his views on the day’s action and the road ahead:
Welcome to the show sir:
1)What triggered a sharp rebound on Tuesday?
2) What is the biggest worry for the market at this point in time?
We also caught up with Rohit Singre of LKP Securities to decode the technical charts for you.
1) Nifty50 seems to have taken support near 100-EMA. Where is it headed?
2) India VIX has climbed to 18 ahead of monthly F&O expiry. What is it hinting at?
Asian markets settled mixed for the day. Major European markets were trading up to 1 per cent lower in 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!
