Welcome to ETMarkets Watch, the show about stocks, market trends and money-making ideas. I am Atul PM. and here are the top headlines at this hour.
– Apple makes easy escape from supply crisis
– Airtel to come up with better smartphones
– Rs 50K cr bad debt to go to NARCL by FY-end
– Google to invest up to $1 billion in Airtel
– SC to hear FRL payment plea on Monday
and
– Crude hits $90, but local prices unchanged
Let us take a quick glance at what happened on Dalal Street today.
Domestic benchmark indices wiped off all the gains towards fag end of the session on Friday to settle in the red. Global weakness was behind the fall in markets. With today’s fall, headline indices have seven out of eight sessions with cuts. IT and pharma saw some buying, where banks and auto stocks were under pressure.
The BSE barometer Sensex gyrated in a wide range of 965 points but finished nearly 80 points lower at 57,200 mark. The index lost more than 1,800 points in the holiday truncated week. Its broader peer, Nifty50, settled merely 8 points down above the 17,100 level. The index jumped to 17,375 during the session and retreated about 260 points from the day’s high. The NSE barometer dropped more than 500 points during the week.
That said, broader markets continued to perform in line with the headline peers as BSE midcap and smallcap indices shed a per cent each. Fear gauge India VIX eased about 2 per cent and slipped below 21-levels.
On BSE Sensex, NTPC led the gainers with a 4 per cent rally. Sun Pharma and IndusInd Bank added 2 per cent each. M&MT, Wipro, ITC, Airtel, TCS and HDFC added a per cent each. Kotak Mahindra, Bajaj Finance and Infosys also posted decent gains. Among the losers, Maruti dropped the most, about 3 per cent. It was trailed by TechM that declined 2 per cent. Power Grid, ICICI Bank, Axis Bank, SBI, Bajaj Finserv, Dr Reddy’s Labs, HDFC Bank, L&T and HUL were other top losers.
About 400 stocks hit upper circuit limits for the day and over 280 stocks hit the lower circuit. More than 51 stocks tested their 52-week highs during the session.
We have Arijit Malakar from Ashika Stock Broking to share his views on the action and the road ahead. Welcome to the show sir:
1. Domestic markets gave up their gains in the last hour of the session. What was the reason behind it?
2. Broader markets were back in action today. Will they continue to log gains in the coming days?
We also caught up with Nilesh Jain of Centrum Broking to decode the technical charts for you.
1. Nifty50 saw strong profit booking at higher levels. What does it indicate?
2. Nifty Bank underperformed during the session today. Where is it headed now?
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 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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