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Market Watch (ETMarkets.com)
Which pockets should investors look at as inflation concerns rise?
06:19 Min | November 11, 2021, 8:13 PM IST
Tune in as we analyse the market undercurrent, pockets investors should look at amidst rising inflation concerns, outlook on Nifty50 and Bank Nifty and much more!
Transcript
Welcome to ETMarkets Watch, the show about stocks, market trends and money-making ideas. I am Saloni Goel, and here are the top headlines at this hour.
5G auctions in April-May 2022, says IT Minister
Current account deficit seen hitting 1.4% or $45 bn by March
Centre asks states to allow automatic pass through of costs to discoms
PM to launch RBI's retail direct scheme
India remains long term bet,says Maruti chief
And
Future Retail's independent directors take on Amazon
Let’s take a quick glance at what happened on Dalal Street today.
Domestic equity markets continued its losing streak as benchmark indices dropped after Thursday trauma. Traders pushed the panic button after inflationary concerns, which led to sharp selloff. The weak global cues intensified the selling pressure. Investors got nervous over possible faster-than-expected tightening signals. Inflation in the US rose at the fastest clip in more than 30 years in October. The BSE barometer Sensex shed more than 430 points to close at 59,920. The benchmark index staged a 260 points recovery from the day's low. Its broader peer, Nifty50, tanked about 145 points to end the day just below 17,875 mark. The index had tested 17,800-level during the session. Broader markets outperformed the headline peers but BSE midcap and smallcap indices shed over half a per cent each. Fear gauge India VIX registered a marginal jump.
On BSE Sensex, only half a dozen stocks settled in green. Titan jumped 2 per cent followed by M&M which added a percent. Reliance, TCS, IndusInd Bank and Tata Steel were other stocks which registered gains at the closing bell. On the other hand, SBI tanked 3 per cent, followed by a 2 per cent decline each in Bajaj Finserv, Tech Mahindra, Sun Pharma and Bajaj Finance.
Asian Paints, Axis Bank, HDFC, Kotak Mahindra Bank, Power Grid, ICICI Bank, HUL and Airtel dropped a percent each. L&T, HCL Tech, Maruti and Ultratech Cement registered a significant fall. More than 340 stocks hit upper circuit limits for the day and about 175 stocks hit the lower circuit. Over 100 stocks tested their 52-week highs during the session.
We have Vinod Nair from Geojit Financial Services to share his views on the day's action and the road ahead:
Welcome to the show sir:
1. What led to the selloff in the markets today?
2. Which pockets should investors look at amidst the rising inflation concerns?
We also caught up with Amit Trivedi from Yes Securities to decode the technical charts for you.
1. Nifty settled below 17,900 mark today. What do the charts suggest about it?
2. Nifty Bank has been under pressure recently. Where is it headed now?
Asian markets settled mostly higher for the day. Major European markets were trading mixed in the first few hours of trade. US stock futures were up 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!
5G auctions in April-May 2022, says IT Minister
Current account deficit seen hitting 1.4% or $45 bn by March
Centre asks states to allow automatic pass through of costs to discoms
PM to launch RBI's retail direct scheme
India remains long term bet,says Maruti chief
And
Future Retail's independent directors take on Amazon
Let’s take a quick glance at what happened on Dalal Street today.
Domestic equity markets continued its losing streak as benchmark indices dropped after Thursday trauma. Traders pushed the panic button after inflationary concerns, which led to sharp selloff. The weak global cues intensified the selling pressure. Investors got nervous over possible faster-than-expected tightening signals. Inflation in the US rose at the fastest clip in more than 30 years in October. The BSE barometer Sensex shed more than 430 points to close at 59,920. The benchmark index staged a 260 points recovery from the day's low. Its broader peer, Nifty50, tanked about 145 points to end the day just below 17,875 mark. The index had tested 17,800-level during the session. Broader markets outperformed the headline peers but BSE midcap and smallcap indices shed over half a per cent each. Fear gauge India VIX registered a marginal jump.
On BSE Sensex, only half a dozen stocks settled in green. Titan jumped 2 per cent followed by M&M which added a percent. Reliance, TCS, IndusInd Bank and Tata Steel were other stocks which registered gains at the closing bell. On the other hand, SBI tanked 3 per cent, followed by a 2 per cent decline each in Bajaj Finserv, Tech Mahindra, Sun Pharma and Bajaj Finance.
Asian Paints, Axis Bank, HDFC, Kotak Mahindra Bank, Power Grid, ICICI Bank, HUL and Airtel dropped a percent each. L&T, HCL Tech, Maruti and Ultratech Cement registered a significant fall. More than 340 stocks hit upper circuit limits for the day and about 175 stocks hit the lower circuit. Over 100 stocks tested their 52-week highs during the session.
We have Vinod Nair from Geojit Financial Services to share his views on the day's action and the road ahead:
Welcome to the show sir:
1. What led to the selloff in the markets today?
2. Which pockets should investors look at amidst the rising inflation concerns?
We also caught up with Amit Trivedi from Yes Securities to decode the technical charts for you.
1. Nifty settled below 17,900 mark today. What do the charts suggest about it?
2. Nifty Bank has been under pressure recently. Where is it headed now?
Asian markets settled mostly higher for the day. Major European markets were trading mixed in the first few hours of trade. US stock futures were up 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!
