Welcome to ETMarkets Watch, the show about stocks, market trends and money-making ideas. I am Bhaskar Dutta. Here are the top headlines at this hour.
– PV sales dip 19% in Nov due to chip shortage
– RBI allows LIC to up stake in IndusInd Bank
– RCFL debt holders okay sale to Autumn
– Indian Railways to soon introduce attendants
and
– PM may announce a pact with UAE in January
Let us take a quick glance at what happened on Dalal Street today.
Fag-end buying helped the benchmark equity indices recoup morning losses but they failed to end in the green, thus snapping their 3-day winning run. Buying in Media and PSU lenders supported the sentiments whereas the IT sector was under pressure. BSE barometer Sensex remained in a tight range of 445 points. The benchmark index shed only 20 points to end the week at 57,787. Its broader peer, Nifty50, dropped merely 6 points and settled above the 17,500 mark. Broader markets outperformed headline peers. Both BSE Midcap and Smallcap indices settled in the green. Fear gauge India VIX eased over 3 per cent but remained above 16 levels.
On BSE Sensex, Asian Paints topped the gainers, with a rally of 3 per cent. It was followed by SBI, M&M, TCS and Bajaj Finserv which rallied a per cent each. ICICI Bank, Tata Steel, ITC, Sun Pharma also registered decent gains during the day.
Among the losers, Titan, HDFC, Axis Bank, Kotak Mahindra Bank, HCL Tech and Tech Mahindra shed a per cent each. Airtel, L&T, HDFC Bank, HUL, Infosys, Dr Reddy’s Labs, Power Grid and IndusInd and Ultratech Cement also declined. More than 450 stocks hit upper circuit limits for the day and over 100 stocks hit the lower circuit. About 85 stocks tested their 52-week highs during the session.
We have Tanushree Banerjee from Equitymaster to share her views on the day’s action and the road ahead:
Welcome to the show ma’am:
1. Markets staged a decent recovery in the second half. What were the reasons behind it?
2. Do you see value in private lenders? Should one look at them?
We also caught up with Vaishali Parekh of Prabhudas Lilladher to decode the technical charts for you.
1. Nifty50 was able to hold above 17,500 levels. Where is it headed now?
2. What is your take in Nifty bank?
Asian markets settled lower for the day. Major European markets were trading with cuts in the first few hours of trade. US stock futures were up, hinting towards a positive start for Wall Street 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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