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Let us take a quick glance at what happened on Dalal Street today.
The bears held an edge over the bulls on Thursday, as a recovery staged by benchmark indices intraday could not sustain till the end. Sensex closed some 250 points lower at 59,400-odd levels. Nifty50 edged 0.2 per cent lower to stay above the 17,700 mark. A total of 18 Sensex stocks ended lower, with HDFC, Kotak Mahindra Bank, Asian Paints, UltraTech Cement, HUL and HDFC Bank falling 1-2 per cent. ICICI Bank and TechM also declined over 1 per cent. This was, however, in contrast to the broader market trend, where two out of every three stocks ended higher for the day.
We have Vikas Jain from Reliance Securities to share his views on the day’s action and the road ahead:
Welcome to the show sir:
1) Given the intraday volatilities, what would be your advice to investors?
2) Which are the sectors that you find attractive valuation wise?
We also caught up with Aditya Agarwala of YES Securities to decode the technical charts for you.
1) What are technical charts for Nifty50 hinting at?
2) What is your view on Nifty Bank?
Asian markets settled up to 2 per cent lower for the day. European markets were trading up to 1 per cent higher in the first few hours of trade. US stock futures were quoting 0.7 per cent higher, 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!