Welcome to ETMarkets Watch, the show about stocks, market trends and money making ideas. I’m Atul PM and here are the headlines at this time.

Kotak Mahindra Bank gets green light to collect direct and indirect taxes
MFI body writes to FM looking for Rs 7,500 crore
Vedanta plans to buy out Hind Copper’s stake
HDFC Bank posts strong loan growth
Airtel conducts first 5G rural trial in India
And
J&J files a request for a vaccine recall authorization

Let’s take a quick look at what happened in Dalal Street today.

The national stock market reported a strong rally in afternoon trading and extended the winning streak for the second straight session. Market participants walked through bond and rupee volatility to record another day of gain ahead of RBI’s two-day MPC meeting, which begins tomorrow. The information technology and oil and gas sector posted strong buys, while metals, pharmaceuticals and real estate values ​​were under pressure. BSE Sensex gained over 445 points to settle only 5 odd points of 59,750 points. Nifty50 gained over 130 points to end the day at 17,833, just 11 points below the day’s high. Larger markets underperformed, but the BSE midcap and smallcap indices were able to move into the green. The India VIX fear indicator has fallen by more than 2 percent.

On BSE Sensex, IndusInd Bank, up 5 percent, led the winners. Bharti Airtel gained 3% while Reliance, HCL Tech, Titan, Asian Pains and TCS rose 2% each. Bajaj Auto, Tech Mahindra, Maruti, HUL and Infosys added one percent each. In contrast, Sun Pharma, Power Grid and ITC each lost more than one percent. Ultratech Cement, Tata Steel, Nestlé, ICICI Bank, Kotak Mahindra Bank, Dr Reddy’s Labs and NTPC have also moved into the red. About 515 stocks reached upper circuit limits for the day, while over 125 stocks reached lower circuit. More than 145 stocks tested their 52 week highs during the session.

We have Ajit Mishra from Religare Broking to share his take on today’s action and the road ahead:
Welcome to the show sir:
1. Markets are heading to lifetime highs again. Should profits be recognized at these levels?
2. Should investors expect volatility in the markets ahead of the RBI MPC meeting?

We also caught up with Ashis Biswas from CapitalVia Global Research to decode the technical tables for you.
1. Nifty has passed 17,800 again. Where is it going?
2. What do you think of Nifty Bank?

Asian markets settled mostly lower for the day. Major European markets were trading with gains in the early hours of trading. US equity futures were pointing to a positive start for US stocks later in the day.

That’s all for the moment. 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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