Market Watch: How optimistic is D-Street about phased unlocking?

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Let us take a quick glance at what happened on Dalal Street today.
Bulls continued to dominate Dalal Street as benchmark indices extended the rally on Monday, with strong buying interest seen in heavyweight Reliance Industries and select banking names. Nifty touched the 15,600-mark for the first time in intraday trade, but closed at 15,582.80, up 147.15 points. This was the seventh straight day of gains for the 50-scrip index.

BSE barometer Sensex surged over 830 points from the day’s low to hit the 52,000 mark during the session, before closing at 51,937.44, up 515 points. Midcap and smallcap indices lagged larger peers. Fear gauge India VIX eased almost 3 per cent.

Among Sensex stocks, Reliance Industries and ICICI Bank gained 3 per cent each. They were followed by Bharti Airtel, ITC, Dr Reddy Labs and Maruti Suzuki that rose 2 per cent each. M&M tanked over 4 per cent, followed by Infosys and IndusInd Bank, which fell nearly one per cent each. Over 470 stocks hit upper circuit limits while a total 145 stocks tested their 52-week highs during the day.

We have Narendra Solanki of Anand Rathi Financial Services to share his views on stocks and sectors:
Welcome to the show, Mr Solanki:
>> How optimistic is Dalal Street about the phased unlocking of the economy? Do you think things will get stabilised from Q2 onwards?
>> May auto sales numbers are expected to stay tepid. What would be your call on the auto sector?

We also caught up with Nirav Chheda of Nirmal Bang Securities to decode the technical charts for you.
>> What is your reading of Nifty charts, as the index is scaling new highs every day?
>> Where is Nifty Bank headed after today’s rally?

Equities in other Asian markets ended the day on a mixed note.