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.
– 3.5 lakh Indians stuck in Green Card backlog
– Global COVID cases up 11% last week: WHO
– ICRA sees telcos’ ARPU rising to Rs 170
– India stops import of 2,851 defence gears
and
– Apple puts India iPhone plant ‘on probation’
Let us take a quick glance at what happened on Dalal Street today.
The domestic equity market snapped its two-day winning streak and ended the volatile sessions on a poor note. The muted global mood ahead of the holiday season weighed on the sentiments back home. The market remained volatile ahead of the expiry of the December series contracts.
The BSE barometer Sensex gyrated in a tight range of 400 points. It dropped over 90 points but settled above the 57,800 level. Its broader peer, Nifty50, shed about 20 points but managed to close above the 17,200 mark. Broader markets outperformed the headline peers as BSE Midcap and Smallcap indices settled in the green. Fear gauge India VIX eased over a per cent and remained under 17 levels.
Among Sensex stocks, Sun Pharma topped the gainers, with a 3 per cent rally, followed by IndusInd Bank and Dr Reddy’s Labs (DRL) which gained 2 per cent each. Titan, Bajaj Finserv and HCL Tech added a per cent each. Nestle, Ultratech Cement, Reliance, Bajaj Finance and Maruti also settled in the green. Among the losers, SBI, ITC, Tech Mahindra and Tata Steel tanked over a per cent each.
About 660 stocks hit upper circuit limits for the day and more than 115 stocks hit the lower circuits. Over 130 stocks tested their 52-week highs during the session.
We have Vikas Jain from Reliance Securities to share his views on the day’s action and the road ahead. Welcome to the show sir.
1. Market remained range-bound during today’s session. What is your take on it?
2. What are key themes to watch out for in 2022?
We also caught up with Vijay Bhambwani from Equitymaster to decode the technical charts for you.
1. Nifty 50 settled was able to hold above 17,200. Where is it headed now?
2. What is your take on Nifty Bank ahead of the expiry of the current series?
Asian markets settled mostly lower for the day. Major European markets were trading with cuts 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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