Nifty: Market Watch: How should investors trade in banking stocks?

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Let us take a quick glance at what happened on Dalal Street today.

Domestic equity markets ended the choppy session with gains, thanks to fag-end buying. Metal, paper and brokerage stocks stole the show, whereas investors booked profits in select auto names. BSE Sensex settled more than 50 points higher than 53,000 mark, adding nearly 200 points. Nifty50 gained 61 points to end the day at 15,880. BSE midcap and smallcap index gained up to half a per cent. Fear gauge India VIX eased mildly.

On Sensex, Tata Steel emerged as the top gainer, rising over 4 per cent. Bajaj Finserv jumped over 2 per cent. IndusInd Bank, HDFC, Nestle India, Asian Paints and Sun Pharma added over a per cent each. Titan shed 2 per cent. It was followed by Maruti, Reliance and M&M, which declined up to a per cent each. About 440 stocks hit upper circuit limits for the day and about 155 stocks tested their 52-week highs during the day.

We have Gaurav Garg from CapitalVia Global Research with us to share his views on the day’s action and the road ahead:

Welcome to the show, sir:

1. Earnings season will kick start from tomorrow with TCS reporting its quarterly results. What are your broader expectations?
2. What would be your advice to investors trading in bank stocks?

We also caught up with Aditya Agarwala of YES Securities to decode the technical charts for you.

1. Nifty has been witnessing choppy trade recently. Do you see range bound trade in coming sessions
2. What do the technical charts suggest about Nifty Bank?

Asian markets ended lower for the day. Major European markets were trading higher in the first few hours of trade. US stock futures were trading higher, hinting towards a positive start to 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!