· Gunmen attack Pakistan Stock Exchange, 11 killed
· Maharashtra extends lockdown till July 31
· India may incentivize auto firms to boost exports
· India’s Motown staring at worst demand dip in 30 yrs
· RBI seeks extension for MPC members
Let’s start with what happened in the market today.
Domestic stocks settled in the red on Monday. Infosys, RIL, HDFC, Axis Bank, ICICI Bank, L&T and SBI led the fall, while HDFC Bank, HUL, Kotak Mahindra Bank and ITC emerged top gainers and pared some of the losses.
Overall, Sensex closed nearly 210 points lower at 34,961, while Nifty fell 71 points to 10,312.
Midcaps and smallcaps underperformed the largecaps. Sectorally, BSE Metals, Realty and Capital Goods indices cracked over 2 per cent each, while Telecom, Consumer Goods and FMCG gained up to 1.40 per cent.
In the broader market, EID Parry, Reliance Infra, Avanti Feeds rallied up to 11 per cent, while IFCI, Ashok Leyland, Bharat Forge and ITD Cementation retreated over 5 per cent each.
Are the bulls showing fatigue? Or has the market lost steam because of weak global cues, extension of Covid restrictions by some of the states? We caught up with Narendra Solanki from Anand Rathi to try and understand the market undercurrent.
Welcome to the show, Mr Solanki
What may have driven the market down today?
Narendra Solanki: Byte 1
The metal index was one of the major underperformers. What is your take on the sector?
Narendra Solanki Byte 2
Is there scope to play this market beyond the Nifty50 pack?
Narendra Solanki Byte 3
On the technical charts, Nifty formed a Doji kind of candle on the daily chart for the second consecutive session, hinting at uncertainty ahead. We have with us Nirav Chheda of Nirmal Bang Securities to do the chart reading.
What are the technical charts telling us?
Nirav Chheda Byte 1
What is your outlook for Tuesday’s session?
Nirav Chheda Byte 2
Globally, Asian peers ended in the red. European markets traded in the green in early deals. US stock futures traded higher after posting sharp losses in the previous session.
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. Good bye!
