Sensex and Nifty scale new life-time highs on Tuesday
Fiscal deficit for the first quarter reaches 21.3% of full year target
Reliance Jio launches new prepaid plans
Airtel plays down report of Google investment, calls it speculation
NCDEX launches second sectoral agri-index futures contract
Facebook, Xiaomi eye a $1 trillion digital loan market in India
India to make it mandatory for auto makers to offer biofuel vehicles in 6 months, says Nitin Gadkari
Let us take a quick glance at what happened on Dalal Street today.
Domestic equity markets defied gravity on Tuesday as benchmark indices continued to script history and scaled new lifetime highs. All round buying in metal, telecom and financial sectors along with positive global cues boosted the sentiments ahead of India’s first quarter GDP numbers scheduled later in the day. Investors’ got richer Rs 2.7 lakh crore as the market cap of BSE listed companies hit Rs 250 lakh crore. BSE Sensex swung in a range of 760 points and scaled the 57,000 mark for the first time. It settled just above 57,550, 663 points higher. The NSE barometer hit the 17,000 level for the first time. Nifty50 soared over 200 points to settle above 17,132. BSE midcap and smallcap indices added up to a per cent each. Fear gauge India VIX jumped over 9 per cent to cross 14.5 level.
On BSE Sensex, Bharti Airtel soared 7 per cent, whereas Bajaj Finance gained 5 per cent. Bajaj Finserv and Asian Paints jumped 3 per cent each. Titan, TCS, Tech Mahindra, Ultratech Cement, HDFC, ITC and HCL Technologies gained 2 per cent each. HUL and Kotak Mahindra Bank added over a per cent each. On the other hand, only three counters ended the day in red. Nestle and IndusInd Bank gave up between 1 and 2 per cent. Reliance also declined. Over 300 stocks hit the upper circuit for the day, whereas about 215 stocks hit the lower circuit. 55 stocks tested their 52-week highs during the session.
We have Ajit Mishra from Religare Broking to share his views on the day’s action and the road ahead:
Welcome to the show sir:
1. The markets scaled new highs during today’s session. Does this rally have more legs?
2. How should investors position themselves at the current highs?
We also caught up with Rohit Singre of LKP Securities to decode the technical charts for you.
1. Nifty50 scaled 17,000 mark today. Where is it headed now?
2. What is your take on Nifty Bank?
Asian markets ended higher for the day. Major European markets were trading mixed 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!