Direct tax collections at Rs 9.45 lakh crore exceeds revised FY21 estimates
Macrotech Developers IPO sails through, subscribed 1.4x on final day
Fitch says second wave heightens risks for banks
India’s retail inflation likely rose in March
Oil prices dip on mixed supply and demand outlook
Let us take a quick glance at what happened on the Dalal Street today.
Domestic indices fell on Friday, but fared pretty well against other Asian markets that fell up to 1.5 per cent for the day. It was financial institutions and index heavyweights that weighed heavy on the key benchmark indices, in an otherwise strong day for the broader market.
Sensex dropped 145 points to end below 49,600. Nifty edged 0.3 per cent lower below the 14,850 mark. Select PSU bank stocks such as Bank of Maharashtra and BOI gained up to 20 per cent on reports the government may soon come up with a privatisation roadmap. Sensex stocks such as Bajaj Finance, UltraTech Cement, NTPC, and Axis Bank fell 2-3 per cent. ICICI Bank, IndusInd Bank and Reliance Industries declined over 1 per cent each.
We have Paras Bothra of Ashika Stock Broking with us to share his views on the market.
Welcome to the show sir.
1) Earnings season will kick start next week with a slew of IT earnings. What are your expectations from the IT biggies?
2) Do you think the market is largely factoring in the March quarter earnings rebound? Do you see scope of surprises?
We also caught up with Nilesh Jain of Centrum Broking to decode the technical charts for you.
1) What are daily and weekly charts suggesting for Nifty?
2) Has Nifty Bank’s technical readings weakened?
Asian markets settled up to 1.5 per cent lower for the day; European markets were trading mixed in the first few hours of trade. US stock futures were hinting at a flat-to-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!
