Nifty snaps 2-day winning run as RBI cuts GDP forecast
Rupee settles 8 paise lower at 72.99 against dollar
Forex reserves likely crossed $600 bn level this week
RBI Governor flags major concerns over cryptos
Rs 43,000 crore submarine project approved
Let us take a quick glance at what happened on Dalal Street today.
Domestic indices fell on Friday after the RBI cut its FY22 GDP forecast to 9.5 per cent from 10.5 per cent. Additional measures announced by the central bank sent hotel stocks soaring. Bank stocks, however, settled lower. Nifty50 hit a new high of 15,733, before closing at 15,670, down 20 points. BSE Sensex shed 132 points to end the week at 52,100.
Nestle India was the worst hit Sensex stock for the day, falling 2 per cent. It was followed by SBI, ICICI Bank, HDFC Bank and Axis Bank. Bajaj Finserv was the top gainer, rising 3 per cent. ONGC, L&T and Bajaj Finance were among other top performers.
We have Paras Bothra from Ashika Stock Broking to share his views on stocks and sectors:
Welcome to the show,Mr Bothra:
>> RBI announced a separate liquidity window for the hotel sector. How do you see the road ahead?
>> Which sectors do you see gaining the most from RBI announcements?
We also caught up with Nilesh Jain from Centrum Broking to decode the technical charts for you.
>> Nifty slipped below 15,650 level. What do daily and weekly technical charts suggest?
>> Nifty Bank declined 1 per cent today. Where is it headed?
Asian markets ended mixed whereas major European benchmarks were trading lower in the first few hours of trade. US stock futures were hinting at a muted start on Wall Street 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!
