Market Watch: Which factors are powering D-Street rally now?

Sensex, Nifty50 roar to record closing highs
WazirX denies receiving a show cause notice from ED
Value fund refuses to chase ‘hot’ stocks
Sona BLW, Dodla Dairy, Krishna Institute, Shyam Metalics line up IPOs for next week
Policybazaar gets insurance broking licence from IRDAI
Petrol crossed Rs 102 in Mumbai, Diesel in nervous 90s

Let us take a quick glance at what happened on Dalal Street today.
Bulls continued to dominate the domestic equity market with both benchmark indices scaling new record closing highs. Reliance, Dr Reddy’s Labs and IT counters led the rally on Friday, whereas banking and financial counters remained under pressure. Nifty 50 raced past the 15,835 level during the session and ended the day with a gain of 62 points, just shy of 15,800. BSE Sensex hit the 52,600 mark, before closing at 52,475, up 175 points. Broader markets underperformed whereas fear gauge VIX eased 6 per cent.

Dr Reddy’s gained over 3 per cent, the most on BSE Sensex. It was followed by Power Grid, TCS, Infosys, HCL Tech and Reliance.

We have Paras Bothra from Ashika Stock Broking to share his views on the day’s action and the road ahead:
Welcome to the show, Mr Bothra:
>> Benchmark Indices scaled new life time highs. Which factors are driving the market now?
>> What is your view on the IT sector? Do you find midcap IT stocks attractive?

We also caught up with Nilesh Jain from Centrum Broking to decode the technical charts for you.
>> Do you see consolidation to continue in Nifty50 in coming days?
>> What are Nifty Bank charts suggesting?

Most Asian markets ended mixed for the day. Major European markets were trading with gains in the first few hours of trade. US stock futures were hinting at a positive 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!