S&P forecasts 11% growth for India this fiscal
Pfizer in vaccine supply talks with India
SC wants national plan on Covid-19 situation
Petrol, diesel prices unchanged for a week
India eases rules to encourage ministries to spend to aid economy
Let us take a quick glance at what happened on the Dalal Street today.
Thursday’s rise in benchmark indices came in despite a weak backdrop of a record Rs 3 lakh daily Covid cases and stricter restrictions in Maharashtra. What lifted sentiment, it seems, was hopes that the lockdown would only be imposed as a last resort in the fight against Covid.
A short covering-fuelled rally in banks also pushed indices higher on the day of weekly options expiry.
Sensex reclaimed the 48,000 mark, while Nifty ended above 14,400 level. The two indices rose 0.8 per cent each for the day. ICICI Bank advanced 4 per cent, HDFC added 3 per cent while Bajaj Auto rose 2 per cent. Lenders HDFC Bank, SBI and ICICI Bank also added 2 per cent each. FMCG stocks remained out of favour. Titan, HUL, Asian Paints and Nestle India remained the worst index performers falling up to 3 per cent.
We have with us Gaurav Garg, Head of Research at CapitalVia Global Research, to share his views on the market.
Welcome to the show sir.
1) What led to rise in the market on Thursday?
2) Bank stocks saw some momentum today. What are your broader Q4 expectations from bank earnings?
We also caught up with Rohit Singre of LKP Securities to decode the technical charts for you.
Welcome to the show Mr Singre
1) How difficult would it be for Nifty50 to get past 14,500?
2) Nifty Bank is showing some strength. What are the charts suggesting?
Asian markets ended mixed for the day; European markets were trading largely higher in the first few hours of trade. US stock futures were hinting at a flat 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!
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