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Let us take a quick glance at what happened on the Dalal Street today.
Battered banking stocks rebounded on Thursday, sending key benchmark indices up about 1 per cent each. Sensex breached the 50K mark and closed 521 points higher. Nifty ended the day above 14,000 level. Gains for domestic stocks were in line with global markets that welcomed US govt’s $2 trillion infrastructure plan. Investors chose to ignore over 72,0oo daily cases recorded in the last 24 hours and also lockdowns in France.
Fear gauge India VIX eased 3 per cent.
Among Sensex stocks, IndusInd Bank, Ultratech Cement, Kotak Mahindra Bank, Bajaj Finance, ONGC and Sun Pharma gained 2-4 per cent. FMCG stocks HUL and Nestle India and IT major TCS ended lower.
We have Vinod Nair of Geojit Financial Services with us to share his views on the market.
Welcome to the show sir.
1) Banking stocks made a comeback today. Was it due to value buying?
2) What pockets should one focus on as we enter the Q4 earnings season?
We also caught up with Rohit Singre of LKP Securities to decode the technical charts for you.
1) Do you think Nifty50 should take out the 15,000 mark early next week?
2) What are charts suggesting for Nifty Bank?
Asian markets settled up to 1.5 per cent lower for the day; European markets were largely positive 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!