Business & Investment

The Bulls dominate Daral Street for 10 consecutive days.Banks, IT stocks in demand

New Delhi: Metal stocks were put off as Tuesday’s benchmark index rose to new highs and morning losses recovered amid weak global clues, but strong demand for bank names saved the day. I did.

Non-stop foreign trends have boosted the market in recent months, but with each rise, volatility indicators are also rising, reflecting the nervousness among investors who have become cautious about valuation growth. ..

30 share pack Sensex Added 260.98 points to 48,437.78, or 0.54 percent. The index is currently rising in 10 consecutive sessions. NSE flagship Nifty It increased by 66.60 points (0.47%) to 14,199.50.

“Equities are at abundant levels today, based on past valuation standards, but these levels are temporary financial well-being due to early vaccination, double-digit high earnings growth, and high market liquidity. Can’t be easily expanded or compared because of. The ongoing Indian rally is underpinned by expectations for Q3 results, and in terms of profits, the upward trend in economic activity and the record for GST. The collection is expected to result in a green shoot, “said Vinod Nair, Head of Research at Geojit Financial Services.

Market at a glance:

  • Axis Bank surged by more than 6% and emerged as the top winner of top companies
  • Metal stocks make a profit after buying in bulk on Monday
  • India VIX rises more than 2%, above 20 levels
  • KNR Constructions set a 52-week record for a highway project victory
  • HDFC increased 3% as personal loan payments increased 26% in the third quarter.

Among the best-selling stock names, Axis Bank was the top winner, rising 6.32 percent. HDFC, IndusInd Bank, HDFC Life Insurance, Wipro, TCS, Asian Paints, Titan and GAIL were other major winners.

“We propose to be positive but cautious about the market and stick to a fundamentally healthy stock.”

— Ajit Mishra, Religare Broking

The losers of Nifty members were led by ONGC, which fell 1.96 percent. JSW Steel, Hindalco, Tata Steel, Bajaj Finance, Coal India, NTPC, M & M and Reliance Industries ended up in the red.

The broader market index also recorded profits, surpassing the larger peers. Nifty Smallcap increased by 0.60% and Nifty Midcap increased by 0.68%. Nifty500, the widest index in NSE, rose 0.64%.

Polycab India, RBL Bank, L & T Financial Holdings, NBCC, Thyrocare Technologies and Sobha recorded top gains, rising in the 4-8% range from the Medium and Small Cap Index.

Indian Hotels, SAIL, National Aluminum Company, India Energy Exchange, Indiabulls Real Estate and IRB Infra were big losers from the wider market space, ranging from 1-4%.

The sector matrix was mixed with NSE. Nifty IT rose 2.62% and Nifty Private Bank rose 1.93%. Nifty Financial Service and Nifty Bank each also made more than 1% profit. Nifty Metal, Nifty Auto and Nifty Realty closed in the red.

The breadth of the market favored the expanders as 1,781 shares closed green and 1,288 shares were settled at a reduced price. As many as 430 securities hit 52-week highs, primarily from small cap stocks. Meanwhile, 39 names recorded 52-week lows, primarily from the field of microcaps. About 530 stocks have reached the upper limit of the circuit and 158 stocks have reached the lower limit of the circuit.

The European market was also mixed and traded. London-based FTSE rose 0.25%, while Paris and Frankfurt fell 0.20% and 0.28%, respectively. In Asia, all markets rose and closed, with the exception of Japan, which ended in the red. Thailand had a top gain of 2.62%.

The Bulls dominate Daral Street for 10 consecutive days.Banks, IT stocks in demand The Bulls dominate Daral Street for 10 consecutive days.Banks, IT stocks in demand

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