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Let us take a quick glance at what happened on Dalal Street today.
Bulls made a comeback on the expiry of weekly derivatives contracts. Financial and banking counters led the rally as both the benchmark indices ended the session with decent gains. Nifty50 jumped 102 points to close at 15,738. BSE Sensex settled at 52,300 level, adding 359 points.
Bajaj Finance emerged as top Sensex gainer, advancing 7 per cent, followed by Bajaj Finsev, which added 4 per cent. SBI climbed 3 per cent and IndusInd Bank 2 per cent. On the flipside, Bajaj Auto and Maruti declined 1 per cent each. They were followed by HCL Tech and Ultratech Cement, shedding half a per cent each.
We have Vinod Nair for Geojit Financial Services to share his views on the day’s action and the road ahead:
Welcome to the show, Mr Nair:
>> The bulls are back after a brief consolidation. How should investors position themselves?
>> Which sectors appear overvalued and what should investors do?
We also caught up with Rohit Singre from LKP Securities to decode the technical charts for you.
>> Nifty 50 resumed its up move in today’s session. Where is it headed?
>> What is the outlook for Nifty Bank?
Most Asian markets ended higher for the day. Major European markets were trading with gains in the first few hours of trade. US stock futures were hinting at a positive start on Wall Street later in the day.