Nifty50: Market Watch: Will market see profit booking in the coming days? | 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.

Investors richer by Rs 2.8 lakh cr as Sensex rises by 639 points
Zomato shares to list on bourses on Friday
Rakesh Jhunjhunwala-backed Star Health Insurance files DRHP for IPO
Cabinet gives nod to Rs 6,322 crore PLI scheme for specialty steel
Vodafone Idea gets nod for Rs 15,000 cr FDI investment
Airtel hikes postpaid tariff for enterprise customers

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

After a day’s break, bulls took charge on Dalal Street as major benchmark indices snapped their three-day losing streak. Nervousness and concerns of the Delta variant waned among traders as buying interest was seen in all sectors, especially metals and IT. BSE Sensex rallied as much as 640 points to settle at 52,837 mark. Nifty50 ended at 15,824, adding over 190 points. Broader markets outperformed, with BSE midcap and smallcap indices gaining more than a per cent each. Fear gauge India VIX eased 10 per cent, slipping below the 12-mark.

On BSE Sensex, Tech Mahindra led the gainers’ pack, jumping as much as 6 per cent. It was followed by Bajaj Finance, Bharti Airtel, Bajaj Finserv, which surged 4 per cent each. Tata Steel, L&T and Infosys added 3 per cent each. Only four Sensex counters ended in the red. HUL and Asian Paints shed 2 per cent each. Bajaj Auto declined one per cent and M&M also settled with cuts. About 495 stocks hit upper circuit limits for the day and over 175 stocks tested their 52-week highs during the day.

We have Vinod Nair of Geojit Financial Services with us to share his views on the day’s action and the road ahead:

Welcome to the show, sir:

1. Markets hit a new lifetime high in today’s session. Do you see profit booking in the coming days?
2. How should investors play the IT theme after strong management commentaries?

We also caught up with Ashis Biswas of CapitalVia Global to decode the technical charts for you.

1. Nifty hit the 15,800 mark today. Where is it headed now?
2. What do the technical charts suggest about Nifty Bank?

Asian markets ended higher for the day. Major European markets were trading with gains 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 for all the news, market analysis, investment strategies and dozens of stock recommendations. Enjoy your evening. Bye Bye!

Most Related Links :
Business News Governmental News Finance News

Need Your Help Today. Your $1 can change life.

[charitable_donation_form campaign_id=57167]

Source link

Back to top button