nifty50: Market Watch: After 17,000, where is Nifty50 headed next? | The Economic Times Podcast

– Hero Moto to hike prices from January onwards
– AstraZeneca booster works against Omicron: Study
– SOS call answered, telecom sector to ring in 5G
– FIEO aims $460-475 bn exports next fiscal
– 60% adult population vaccinated, says govt
and
– Pharma looks to sustain momentum in 2022

Let us take a quick glance at what happened on Dalal Street today.

Domestic equity markets ended on a positive note for the third straight session, tracking positive sentiments in the global markets. However, rising cases of Omicron variant of Covid along with profit-taking at higher levels trimmed the gains.

Barring media and metal sectors, all others saw buying interest. The BSE barometer Sensex gained a little less than 400 points to close above 57,300 levels. Its broader peer Nifty50 added about 120 points and ended the session above the 17,000 mark. Broader markets outperformed the headline peers as BSE midcap and smallcap gained a per cent each. Fear gauge India VIX sharply dropped about 5 per cent and slipped below 16 levels.

On BSE Sensex, Power Grid topped the gainers with a rise of 3 per cent. It was followed by ITC, Bajaj Finance and NPTC, which rose 2 per cent each. Tech Mahindra, Wipro, SBI, Bajaj Finserv, Bajaj Finance, Axis Bank, Titan, HDFC and M&M added over a per cent each. Among the top losers were Airtel, Sun Pharma, Maruti and Ultratech Cement.

About 545 stocks hit upper circuit limits for the day and more than 160 stocks hit the lower circuits. More than 90 stocks tested their 52-week highs during the session.

We have Vinod Nair from Geojit Financial Services to share his views on the day’s action and the road ahead. Welcome to the show sir.
1. Markets have been on a rising trend lately. What are the reasons behind it?
2. Which sectors do you think will outperform in 2022?

We also caught up with Rohit Singre of LKP Securities to decode the technical charts for you.
1. Nifty has been able to sustain above 17,000 levels. Where is it headed now?
2. What is your take on Nifty Bank?

Asian markets settled higher for the day. Major European markets were trading with gains 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!