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Let us take a quick glance at what happened on Dalal Street today.
Market ended the volatile session on a flat note, though the net change was in the red. Benchmark indices snapped the five-day winning streak as they settled marginally lower. Rising inflation and worsening pandemic soured the mood on Dalal Street.
Investors are focused on the earnings season, which will gain momentum next week. The BSE barometer Sensex gyrated in a range of 570 points but settled at 61,233, only a dozen points lower. The index added close to 1,500 points during the week.
Its broader peer, Nifty50, dropped merely two points and settled above the 18,255 mark. The index has gained about 450 points during the week. Broader markets outperformed the headline peers as BSE midcap and smallcap indices settled with decent gains. Fear gauge India VIX eased about a per cent but remained above 16 levels.
On BSE Sensex, Asian Paints and Axis Bank were the top losers, shedding 3 per cent. They were followed by HUL, M&M, Wipro and HDFC, which dropped 2 per cent each.
Airtel, Nestle, Sun Pharma, Titan, Dr Reddy, IndusInd Bank, ICICI Bank, ITC, SBI and Tata Steel dropped 5 per cent each.
Among the gainers, TCS, Infosys, L&T, Tech Mahindra and HDFC Bank rose over one per cent each. Ultratech Cement, Kotak Mahindra Bank, HCL Tech and NPTC also posted decent gains. Close to 560 stocks hit upper circuit limits for the day and about 280 stocks hit the lower circuit. Around 125 stocks tested their 52-week highs during the session.
We have Arijit Malakar of Ashika Stock Broking sharing his views on the day’s action and the road ahead:
Welcome to the show sir:
1. Benchmark indices remained volatile during the session. What weighed on the mood of markets?
2. Results season will gain momentum starting next week. What are your expectations from India Inc?
We also caught up with Nilesh Jain of Centrum Broking to decode the technical charts for you.
1. Nifty50 ended the volatile session on a flat note. Where is it headed now?
2. Nifty Bank has been on the weaker side lately. What is your take on it?
On the global front, Asian markets settled mostly lower for the day. Major European markets were trading with cuts in the first few hours of trade. However, 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 stock recommendations. Enjoy your evening. Bye Bye!
Credit: economictimes.indiatimes.com – Source link