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Let us take a quick glance at what happened on the Dalal Street today.
A 5,000-point rally in six consecutive trading days pushed BSE benchmark Sensex past 51,000-mark on Monday. NSE Nifty topped the 15,100-mark as bets on US stimulus rise on muted jobs data in the world’s largest economy. Investors were quick to lap up shares of M&M following a solid Q3 show. In contrast, BHEL took a beating as analysts cut targets for the stock post Q3 loss. Graphite stocks HEG and Graphite India soared 10-15 per cent but FMCG stocks such as HUL and ITC remained dull and out of favour, falling up to 1 per cent.
We have G Chokkalingam, founder and chief executive officer at Equinomics Research & Advisory Services, with us to understand his views on the market.
Welcome to the show, Mr Chokkalingam
1) Dalal Street rally has been unstoppable so far. Where is Sensex headed? What could halt the ongoing momentum?
2) Many lagging sectors are catching up with the market. Where do you find valuations attractive and where would you exercise caution?
On the daily technical chart, Nifty made a small bullish candle. We caught up with Nirav Chheda from Nirmal Bang Securities to decode the charts.
Welcome to the show, Mr Chheda
1) Friday’s Doji on Nifty has been negated on Monday. What is the near term target for the index?
2) At record high, where is Nifty Bank headed?
Major Asian markets, except Korea, ended higher. European markets were trading up to 1 per cent higher in the first few hours of trade. US stock futures were hinting at a positive start for 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!
