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Exports rise for 11th month, up 43.3% in Oct
Let us take a quick glance at what happened on Dalal Street today.
Domestic equity markets were back in red after a day’s rebound. Benchmark indices succumbed to the sellings pressure in metal, oil and commodity stocks. However, realty, PSU bank and consumer durables stocks provided some relief. All eyes are on the outcome of the Federal Reserve policy meeting, where the central bank may signal the start of tapering. The BSE barometer Sensex settled just 30 points above 60,000 markets as the index shed more than 100 points. Its broader peer, Nifty50, settled at a dozen points below 17,900 as the NSE barometer shed more than 40 points. Nifty could not hold about 18,000 for long.
Broader markets ended higher, outperforming the headline peers. BSE midcap and smallcap indices ended a per cent higher each. Fear gauge India VIX eased a per cent, staying above 17-level.
On BSE, Maruti Suzuki, Titan and NTPC topped among the gainers, rallying 2 per cent each. SBI, L&T, Bajaj Finance and Bajaj Auto added a percent each. Axis Bank, HUL, HDFC and Sun Pharma also registered significant gains. Among the losers, Tata Steel bled 4 per cent whereas Tech Mahindra fell 2 per cent. HCL Tech, Reliance, IndusInd Bank, Dr Reddy’s Labs and Power Grid tanked a per cent each. Nestle, M&M, Ultratech Cement, ITC and Asian Paints slipped over half a per cent each. Over 360 stocks hit upper circuit limits for the day and more than 185 stocks hit the lower circuit. Over 80 stocks tested their 52-week highs during the session.
We have Ajit Mishra from Religare Broking to share his views on the day’s action and the road ahead:
Welcome to the show sir:
1. Given how the market behaved today, do you see range bound trading ahead in the truncated week?
2. What should investors expect from the Fed’s FOMC meeting?
We also caught up with Rohit Singre from LKP Securities to decode the technical charts for you.
1. Nifty could not hold above 17,900 levels. Where is it headed now?
2. Nifty Bank showed some support at 39,600. What is your take on it?
Asian markets settled mostly lower for the day. Major European markets were trading with cuts 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!
