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Let us take a quick glance at what happened on Dalal Street today.
Domestic equity markets ended on a higher note, thanks to buying in index heavyweights like ICICI Bank, Reliance and HDFC twins. Bulls were in action once again buoyed by firm global cues and rally in global markets. BSE Sensex surged about 400 points to settle at 52,770. Nifty50 added 120 points to end the day at 15,812. BSE midcap and smallcap index ended flat, whereas smallcap index gained half a per cent. Fear gauge India VIX eased 3 per cent, falling below the 13 level.
On the BSE Sensex, ICICI Bank and HDFC gained 3 per cent each. They were followed by Axis Bank, Sun Pharma and NPTC that gained 2 per cent each. M&M, HDFC Bank, Kotak Mahindra Bank and L&T added a per cent each. On the flip side, HCL Tech and Dr Reddy’s Labs shed a per cent each. Maruti Suzuki, Tech Mahindra and HUL were also among the top losers. About 520 stocks hit upper circuit limits for the day and over 235 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. What made equity benchmarks rally on Tuesday?
2. Would it make sense for small investors to invest in IPOs of loss-making companies?
We also caught up with Rohit Singre of LKP Securities to decode the technical charts for you.
1. The Nifty index is hovering around the levels of 15,800. What do the technical charts indicate about the index?
2. What do the technical charts suggest about Nifty Bank?
Asian markets ended higher for the day. Major European markets were trading lower in the first few hours of trade. US stock futures were down, hinting towards 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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