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Let us take a quick glance at what happened on the Dalal Street today.
Benchmark indices gained after the RBI in its annual report said policy stance will remain supportive of growth and suggested the impact of Covid will be limited to the June quarter. Despite being the F&O expiry day, trading was rangebound. NSE barometer Nifty50 took the winning streak to the fifth session and settled the May F&O series at 15,338, up 36 points. The BSE Sensex added 98 points and closed above 51,100 level.
Bank stocks led gainers on Sensex. SBI rose 3 per cent for the session, followed by private lenders like Kotak Mahindra Bank and Axis Bank, which gained 2 per cent each. Tech Mahindra, Bajaj Auto, Ultratech Cement, and TCS were among other Sensex gainers, rising 1 per cent each. HDFC led the losers, followed by Bajaj Finance, ONGC, Bharti Airtel and HUL. The stocks fell over 1 per cent each for the day. A total of 485 stocks hit upper circuit limits while 165 stocks tested their 52-week highs during the day.
We have Vinod Nair of Geojit Financial Services to share his views on stocks and sectors:
Welcome to the show sir:
1) The RBI in its annual report warned about bubbles in the market. Which sectors do you see are in the bubble zone?
2) Icra cautioned about the inflation in the rural economy. Will higher input prices affect the rural economy more?
We also caught up with Rohit Singre of LKP Securities to decode the technical charts for you. Welcome to the show sir.
1) Thursday was quite a range bound day despite the F&O expiry. Do you see some consolidation here?
2) Investors are clearly indecisive at higher levels. Where is the index headed? Where do the support and resistance levels lie for Nifty Bank?
Asian markets ended mostly lower for the day. Major European markets were trading higher in the first few hours of trade. US stock futures were hinting at a negative 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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