Weak global cues drag Sensex 486 pts lower
Tata Motors global wholesales rise to 2.14 lakh units in Q1
SpiceJet to launch 42 new flights between July 10 and 30
Cairn to seize Indian properties in Paris
Sanofi, GSK receive nod for Phase 3 trial of COVID-19 vaccine
Finance ministry releases Rs 9,871 crore grant to 17 states
Let us take a quick glance at what happened on Dalal Street today.
Domestic equity markets ended the volatile session in deep red as slowing growth and sinking Dow futures weighed on investor sentiments. Sharp selloff in financial and metal stocks dragged the indices lower. BSE Sensex settled at 52,569, shedding 486 points. Nifty50 tanked over 150 points to end the day at 15,728. BSE midcap and smallcap index ended in the red. Fear gauge India VIX jumped 11 per cent to 13.56.
On Sensex, Tata Steel, Sun Pharma, SBI, ICICI Bank, Dr Reddy’s Labs and Kotak Mahindra Bank shed 2 per cent each. Tech Mahindra gained over a per cent. Bajaj Finance, HDFC Bank and Axis Bank fell over a per cent each. On the flip side, Bajaj Auto, Power Grid, HCL Tech and NTPC ended the day in the green. About 385 stocks hit upper circuit limits for the day and about 150 stocks tested their 52-week highs during the day.
We have Vinod Nair from Geojit Financial Services with us to share his views on the day’s action and the road ahead:
Welcome to the show, sir:
1. What spooked Dalal Street today?
2. What would be your advice to investors applying in the mega IPOs?
We also caught up with Rohit Singre of LKP Securities to decode the technical charts for you.
1. After today’s fall, the index has fallen below its immediate support level. What are the charts suggesting?
2. Vix spiked nearly 11% today. Do you see volatility rising in the coming days?
Asian markets ended lower for the day. Major European markets were trading with cuts in the first few hours of trade. 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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