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Market Watch (ETMarkets.com)
Would the market cool off in the coming days?
06:45 Min | October 19, 2021, 6:30 PM IST
Tune in as we analyse the market undercurrent, outlook on Nifty50 & Bank Nifty and much more!
Transcript
Welcome to ETMarkets Watch, the show about stocks, market trends and money-making ideas. I am Bhaskar Dutta. and here are the top headlines at this hour.
Banking system NPAs may rise to 8-9% by end of FY22, says Crisil
Banks hiring in India, Southeast Asia as $93-billion tech deal hunt hots up
P&G to invest Rs 500 crore to drive India's rural growth story
India ranks 40th out of 43 pension systems
Devas eyeing foreign assets of Indian govt to enforce $1.3 bn arbitral award
And
Financial stability taken care of under flexible inflation targeting regime says RBI research report
Let’s take a quick glance at what happened on Dalal Street today.
Bulls took a breather on Dalal Street as the domestic equity markets snapped the seven day winning streak and ended in red. Benchmark indices erased early gains as profit booking in metal, realty, auto, FMCG and banking shares dented the sentiments. Buying in IT stocks could not support the markets. Markets oscillated between red and green, thanks to the volatility. The BSE barometer Sensex gyrated in the range of 650 points to hit 62,000 mark for the first time. However, it erased all the early gains and settled 50 points lower at 61,716. Its broader peer, Nifty50, which scaled 18,600 during the session settled below 18,418, after giving up 60 points down from the previous close. The broader markets underperformed as BSE midcap and smallcap indices tanked 2 per cent each. Fear gauge India VIX jumped over a per cent.
IRCTC tanked 15 per cent on NSE, hitting two lower circuits on the way as the stock was facing F&O ban as market-wide position limit on the October futures of IRCTC most likely crossed the 95 per cent threshold.
On BSE Sensex, ITC tanked over 6 per cent leading the losers, followed by HUL and Titan, which shed 4 per cent each. Tata Steel, Ultratech Cement and Power Grid declined over 3 per cent each. IndusInd Bank, SBI, Asian Paints and Bajaj Finance fell 2 per cent each. Axis Bank, Sun Pharma and Dr Reddy's gave up over a per cent each. On the other hand, Tech Mahindra soared 4 per cent and L&T gained 3 per cent. Bajaj Finserv and Infosys jumped 2 per cent each. HDFC Bank, Kotak Mahindra Bank, Reliance, HCL Tech and M&M added a per cent each. About 275 stocks hit upper circuit limits for the day, whereas more than 290 stocks hit the lower circuit. Over 165 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 way the market behaved on Tuesday, should one expect a cooling off in the coming days?
2. Name a few Nifty50 stocks or sectors that you think can drive indices going ahead?
We also caught up with Rohit Singre from LKP Securities to decode the technical charts for you.
1. What is your take on Nifty50?
2. Nifty bank hit 40,000 today. Where is it headed now?
Asian markets settled mostly higher for the day. Major European markets were trading with gains 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!
Banking system NPAs may rise to 8-9% by end of FY22, says Crisil
Banks hiring in India, Southeast Asia as $93-billion tech deal hunt hots up
P&G to invest Rs 500 crore to drive India's rural growth story
India ranks 40th out of 43 pension systems
Devas eyeing foreign assets of Indian govt to enforce $1.3 bn arbitral award
And
Financial stability taken care of under flexible inflation targeting regime says RBI research report
Let’s take a quick glance at what happened on Dalal Street today.
Bulls took a breather on Dalal Street as the domestic equity markets snapped the seven day winning streak and ended in red. Benchmark indices erased early gains as profit booking in metal, realty, auto, FMCG and banking shares dented the sentiments. Buying in IT stocks could not support the markets. Markets oscillated between red and green, thanks to the volatility. The BSE barometer Sensex gyrated in the range of 650 points to hit 62,000 mark for the first time. However, it erased all the early gains and settled 50 points lower at 61,716. Its broader peer, Nifty50, which scaled 18,600 during the session settled below 18,418, after giving up 60 points down from the previous close. The broader markets underperformed as BSE midcap and smallcap indices tanked 2 per cent each. Fear gauge India VIX jumped over a per cent.
IRCTC tanked 15 per cent on NSE, hitting two lower circuits on the way as the stock was facing F&O ban as market-wide position limit on the October futures of IRCTC most likely crossed the 95 per cent threshold.
On BSE Sensex, ITC tanked over 6 per cent leading the losers, followed by HUL and Titan, which shed 4 per cent each. Tata Steel, Ultratech Cement and Power Grid declined over 3 per cent each. IndusInd Bank, SBI, Asian Paints and Bajaj Finance fell 2 per cent each. Axis Bank, Sun Pharma and Dr Reddy's gave up over a per cent each. On the other hand, Tech Mahindra soared 4 per cent and L&T gained 3 per cent. Bajaj Finserv and Infosys jumped 2 per cent each. HDFC Bank, Kotak Mahindra Bank, Reliance, HCL Tech and M&M added a per cent each. About 275 stocks hit upper circuit limits for the day, whereas more than 290 stocks hit the lower circuit. Over 165 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 way the market behaved on Tuesday, should one expect a cooling off in the coming days?
2. Name a few Nifty50 stocks or sectors that you think can drive indices going ahead?
We also caught up with Rohit Singre from LKP Securities to decode the technical charts for you.
1. What is your take on Nifty50?
2. Nifty bank hit 40,000 today. Where is it headed now?
Asian markets settled mostly higher for the day. Major European markets were trading with gains 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!
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