Sensex, Nifty hits record high after Fed’s dovish stance
Wipro Q1 net profit rises 9% QoQ to Rs 3,243 cr
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BharatPe eyes $6 billion transactions from PoS business
Power usage up 17% to 59.36 billion units in July
Let us take a quick glance at what happened on Dalal Street today.
Domestic equity markets ended the day on a higher note, with both benchmark indices scaling new peaks, thanks to buying in IT and banking stocks. Bulls took charge on reports that the US Fed will keep interest rates near zero for the time being. BSE Sensex gained 255 points to settle above the 53,150 mark. Nifty50 hit 15,950 mark, before closing at 15,924, up 70 points. Broader markets underperformed with BSE midcap and smallcap indices posting mild gains. Fear gauge India VIX eased 3 per cent.
HCL Tech led the gainers on BSE Sensex, surging 5 per cent and L&T jumped 4 per cent each. Tech Mahindra gained 3 per cent, whereas HDFC Bank, Ultratech Cement and ICICI added a per cent each. Bharti Airtel, M&M, Asian Paints and Titan company shed up to a per cent each. Over 500 stocks hit upper circuit limits for the day and about 240 stocks tested their 52-week highs during the day.
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, sir:
1. Markets hit a new lifetime high in today’s session. Do you see profit booking in the coming days?
2. How should investors play the IT theme after strong management commentaries?
We also caught up with Ashis Biswas, Head of Technical Research at CapitalVia Global Research to decode the technical charts for you.
1. Nifty at last breached the 15,900 hurdle. Are we headed to 16,400?
2. Nifty Bank hovered around the 36,000 level. What is your take on Nifty Bank?
Asian markets ended higher for the day. Major European markets were trading lower in the first few hours of trade. US stock futures were mixed, 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!
