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Nifty: Market Watch: Which pockets of market are looking attractive right now? | The Economic Times Podcast

Welcome to ETMarkets Watch, the show about stocks, market trends and money-making ideas. I am Sabari Saran and here are the top headlines at this hour.

Jhunjhunwala dumps Rs 154 cr worth of Tata Motors shares in Q1
Anand Rathi Wealth files IPO papers with Sebi
Bajaj Finance Q1 net profit falls 3% YoY to Rs 843 cr
Swiggy raises $1.25 bn in latest funding at $5.5 bn valuation
FinMin seeks Parliament nod for net additional Rs 23,675 cr spending

Let us take a quick glance at what happened on Dalal Street today.

Domestic equity markets extended their loss for the second straight day, thanks to continued selling in banks, metals, realty, telecom and power stocks. The rising spread of the Delta variant in various parts of the world and concerns over growth and inflation spooked investors. BSE Sensex settled just below the 52,200 mark, shedding 355 points. Nifty50 tanked over 120 points to close at 15,632. Broader markets underperformed, with BSE midcap and smallcap indices declining more than a per cent each. Fear gauge India VIX jumped over 4 per cent.

On BSE, IndusInd Bank and Tata Steel were the top losers, declining 3 per cent each. Bharti Airtel, NTPC, HCL Technologies, ICICI Bank gave up more than 2 per cent each. M&M, HDFC Bank, Sun Pharma, SBI and Dr Reddy’s Labs shed between 1-2 per cent each. Among the gainers, Asian Paints stole the show, gaining 6 per cent, whereas Ultratech Cement jumped 2 per cent. Bajaj Auto, HUL, Nestle and TCS added a per cent each. About 450 stocks hit upper circuit limits for the day and 150 stocks tested their 52-week highs during the day.

We have Ajit Mishra from Religare Broking with us to share his views on the day’s action and the road ahead:

Welcome to the show, sir:

1. Sensex is down about 1,000 odd points from its highs. Do you see more correction ahead?
2. Which pockets look attractive in the current market?

We also caught up with Rohit Singre of LKP Securities to decode the technical charts for you.

1. Nifty slipped below the 15,700 level today. Where is it headed now?
2. Nifty Bank has shown more weakness recently. What do the technical charts suggest?

Asian markets ended lower for the day. Major European markets were trading mixed in the first few hours of trade. US stock futures were up hinting towards a positive 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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