Market Watch: Are Dalal Street bulls fatigued now?

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Power consumption in India grows 12.6% in June
Bihar unlocks from June 9; night curfew to continue

Let us take a quick glance at what happened on Dalal Street today. Domestic equity indices, which traded in a range for most of Tuesday’s trade, were dragged down by the selling in index heavyweight and financial counters. However, buying in IT stocks provided some relief.

The Nifty 50 index ended at 15,730, down 22 points, and the BSE Sensex barometer slipped 53 points to settle at 52,276. Fear gauge VIX eased over 2%.

SBI was the top loser among Sensex stocks, falling over 1 per cent. HDFC, HDFC Bank, power Grid and Kotak Bank were among other laggards. Tech Mahindra was the top gainer, rallying 3 per cent. Bharti Airtel, HCL Tech, Infosys and Titan were among other top performers.

We have Ajit Mishra from Religare Broking to share his views on the day’s action and the road ahead:
Welcome to the show, Mr Mishra:
>> Tuesday’s session saw rangebound trade. Do you think that bulls are exhausted?
>> After a brief pause, the IPO season is inching closer. Which sectors should investors focus on?

We also caught up with Rohit Singre of LKP Securities to decode the technical charts for you.
>> Nifty is seeing pressure at higher levels. Where is it headed?
>> What do the technical readings suggest for Nifty Bank?

Most Asian markets ended lower for the day. Major European markets were trading with mild gains in the first few hours of trade. US stock futures were hinting at a muted start on Wall Street 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!