– Ittira Davis appointed as MD & CEO of Ujjivan SFB
– NCLAT admits Amazon plea against CCI order
– Vedanta puts $12 billion price tag on BPCL
– CBDT issues Rs 1.54 L cr refund to taxpayers
– India discouraged from buying Russian S-400
Let us take a quick glance at what happened on Dalal Street today.
Bulls managed to have the upper hand in a highly volatile session on Dalal Street, driving benchmark indices higher for the fifth session in a row. Major IT companies positively surprised in Q3, setting a tone for India Inc’s earnings season. Although global cues did not support the market mood.
Metal stocks shone during the session. Pharma and PSU stocks played supporting roles whereas sugar counter logged decent gains. That said, select IT and cement stocks were under pressure during the day.
The BSE barometer Sensex gyrated in a tight range of 400 points. It added 85 points and settled close to 61,250 level. Its broader peer, Nifty50, gained about 50 points to settle above the 18,250 mark. It traded in a tight range of 105 points.
Broader markets outperformed the headline peers as BSE midcap and smallcap indices added about half a per cent each. Fear gauge India VIX eased about 3 per cent and slipped below 17 levels.
On BSE Sensex, Tata Steel zoomed more than 6 per cent while Sun Pharma gained 4 per cent. L&T and M&M jumped 2 per cent each. Power Grid, Bajaj Finserv, TCS, Infosys, Dr Reddy’s Labs, NTPC, HDFC, ITC and Reliance added a per cent each. Among the losses, Wipro led with a 6 per cent fall. Asian Paints, HDFC Bank and IndusInd Bank shed 2 per cent each. Close 430 stocks hit upper circuit limits for the day and more than 420 stocks hit the lower circuit. Close to 175 stocks tested their 52-week highs during the session.
We have Vinod Nair from Geojit Financial Services to share his views on the action and the road ahead. Welcome to the show sir:
1. It was a choppy day for the domestic indices. What will guide the markets in the near future?
2. Broader markets have been on a roll lately. What would be your advice for the investors?
We also caught up with Vijay Dhanotiya at CapitalVia Global Research to decode the technical charts for you.
1. Nifty50 settled above 18,250 today. What is next on the charts?
2. Nifty Bank underperformed the benchmark index. Where is it headed now?
Asian markets settled mixed for the day. Major European markets were trading with marginal 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 ETMarkets.com for all the news, market analysis, investment strategies and dozens of stock recommendations. Enjoy your evening. Bye Bye!
Credit: economictimes.indiatimes.com – Source link