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Let us take a quick glance at what happened on Dalal Street today.
Domestic equity benchmarks extended their losses to a third straight session on Wednesday thanks to a fag-end selloff in financial stocks. However, gains in Reliance and Infosys trimmed kept the downside in check. All eyes were set on the spread of delta variants and US job data for June due this week. Sensex shed 67 points to close below 52,500. Nifty50 gave up 27 points to settle at 15,722. BSE midcap index ended in red, whereas the smallcap index gained half a per cent. Fear gauge India VIX rose mildly.
On Sensex, Power Grid and Bajaj Finserv tanked 2 per cent each. They were followed by ICICI Bank, HDFC, NTPC and HUL, which shed a per cent each. On the flipside, Infosys and RIL gained over a per cent each. Nestle, Maruti Suzuki and Tech Mahindra jumped up to one per cent.
We have Binod Modi from Reliance Securities to share his views on the day’s action and the road ahead:
Welcome to the show, Mr Modi:
1. What are you expecting out of the second half of 2021? Which sectors look attractive to you?
2. Do you see the metal sector gaining momentum in the coming days?
We also caught up with Aditya Agarwala from Yes Securities to decode the technical charts for you.
1. Nifty50 gave up the day’s gain in the second half of the session. Do you see further consolidation ahead?
2. Nifty Bank has remained a laggard of late. What do the technical charts suggest?
Most Asian markets ended mixed for the day. Major European markets were trading lower in the first few hours of trade. US stock futures were hinting at a negative start on 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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