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Can RBI’s new measures change the market mood?
05:40 Min | May 05, 2021, 7:13 PM IST
Tune in as we discuss what RBI's new measures mean for the market, what the Nifty charts are suggesting, and more!
Transcript
Welcome to ETMarkets Watch, the show about stocks, market trends and money-making ideas. I am Nikhil Agarwal and here are the top headlines at this hour.
RBI Governor Shaktikanta Das announces loan recast for individuals, MSMEs
Rs 50,000 crore fund unveiled to support healthcare sector
RBI to purchase G-Secs worth Rs 35,000 crore on May 20
India records 46% of world's new Covid cases
Drug regulator okays import of Covid vaccines
Let us take a quick glance at what happened on the Dalal Street today.
Domestic indices jumped on Wednesday buoyed by buying in banking stocks as the RBI announced a slew of measures aimed at increasing liquidity and restructuring loans of Covid-hit small businesses and individuals. Closing near the day's high, Sensex added 424 points, while Nifty50 topped the 14,600-mark. In the broader market, every two stocks rose for the one that fell. A total of 332 stocks hit upper circuit, 209 hit 52-week highs.
Healthcare stocks rallied. Lupin soared 13 per cent; Sun Pharma and Aurobindo Pharma climbed 6 per cent each. Cadila Healthcare, Torrent Pharma and Pfizer rose 4-6 per cent. Private lenders such as Axis Bank, IndusInd Bank, Kotak Bank and ICICI Bank advanced 2 per cent each. TCS and Infosys also gained 1-2 per cent, pushing indices higher.
We have with us Binod Modi, Head Strategy at Reliance Securities to share his views on the market.
Welcome to the show, sir.
1) What are the key takeaways for stock investors post RBI’s announcements?
2) Do you see follow-up announcements or sops in coming days?
We also caught up with Aditya Agarwala of YES Securities to decode the technical charts for you.
1) Despite recent volatility, Nifty50 is still stuck in a range. What levels may change the market direction?
2) What is your take on Nifty Bank? What are the charts suggesting?
Most Asian markets were closed for the day. European markets were mostly trading 1 per cent higher in the first few hours of trade. US stock futures were hinting at 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!
RBI Governor Shaktikanta Das announces loan recast for individuals, MSMEs
Rs 50,000 crore fund unveiled to support healthcare sector
RBI to purchase G-Secs worth Rs 35,000 crore on May 20
India records 46% of world's new Covid cases
Drug regulator okays import of Covid vaccines
Let us take a quick glance at what happened on the Dalal Street today.
Domestic indices jumped on Wednesday buoyed by buying in banking stocks as the RBI announced a slew of measures aimed at increasing liquidity and restructuring loans of Covid-hit small businesses and individuals. Closing near the day's high, Sensex added 424 points, while Nifty50 topped the 14,600-mark. In the broader market, every two stocks rose for the one that fell. A total of 332 stocks hit upper circuit, 209 hit 52-week highs.
Healthcare stocks rallied. Lupin soared 13 per cent; Sun Pharma and Aurobindo Pharma climbed 6 per cent each. Cadila Healthcare, Torrent Pharma and Pfizer rose 4-6 per cent. Private lenders such as Axis Bank, IndusInd Bank, Kotak Bank and ICICI Bank advanced 2 per cent each. TCS and Infosys also gained 1-2 per cent, pushing indices higher.
We have with us Binod Modi, Head Strategy at Reliance Securities to share his views on the market.
Welcome to the show, sir.
1) What are the key takeaways for stock investors post RBI’s announcements?
2) Do you see follow-up announcements or sops in coming days?
We also caught up with Aditya Agarwala of YES Securities to decode the technical charts for you.
1) Despite recent volatility, Nifty50 is still stuck in a range. What levels may change the market direction?
2) What is your take on Nifty Bank? What are the charts suggesting?
Most Asian markets were closed for the day. European markets were mostly trading 1 per cent higher in the first few hours of trade. US stock futures were hinting at 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!
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