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Let us take a quick glance at what happened on Dalal Street today.
Benchmark equity indices mostly recovered after a poor start on Wednesday. Gains in RIL, SBI and Maruti Suzuki helped Sensex recover even as selling pressure seen in ITC and select IT counters ensured the index closed in the red. The index fell 85 points to 51,849. Nifty50 closed flat at 15,576. Broader markets outperformed the headline indices. Fear gauge India VIX eased marginally.
ITC remained the worst Sensex performer,falling 3 per cent, followed by Tech Mahindra and Axis Bank, declining 1 per cent each. IndusInd Bank, Power Grid and Reliance Topped among the gainers, rallying 2 per cent each.
We have Binod Modi from Reliance Securities to share his views on stocks and sectors:
Welcome to the show, Mr Modi:
>> The market has taken a breather after the recent rally. What should one watch out for in the coming days?
>> Brent has hit the $70 per barrel mark. Do you see it impacting investors’ sentiment on Dalal Street?
We also caught up with Aditya Agrawala of LKP Securities to decode the technical charts for you.
>> Nifty is still ruling above its support of 15,370. What are charts suggesting?
>> Bank Nifty did not fall below the 35,000 mark today. Where is it headed?
Asian markets ended on a mixed note. Major European markets were rising in the first few hours of trade. US stock futures were hinting at a muted 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!