Should you bet on auto stocks post Dec sales data?

Welcome to ETMarkets Watch, the show about stocks, market trends and money-making ideas. I am Bhaskar Dutta and here are the top headlines at this hour.

- RIL becomes promoter in Sterling & Wilson Solar
- Fino Payments' gets RBI nod for int'l money transfer service
- Liquor, beer sales surge in Karnataka
- Toyota Kirloskar sales up 45% in December
- Dec jobless rate rises to 7.9%: CMIE
and
- Tesla delivers close to 1 million vehicles in 2021

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

Domestic equity markets kicked off the new year with a bang as bulls pushed the benchmark indices higher for the third straight day, shrugging off concerns of a third wave. Buying was visible across major sectors.

The BSE barometer Sensex gyrated in the range of a little more than 1,000 points. It advanced about 930 points and settled close to the 59,200 mark. Its broader peer, Nifty50, soared more than 270 points to settle at 17,625. Broader markets underperformed the headline peers but both midcap and smallcap indices added over a per cent each. Fear gauge India VIX added more than a per cent but did not breach 17 levels.

On BSE Sensex, only five stocks settled in the red. DRL and M&M dropped a per cent each. Tech Mahindra, Nestle and Titan were the other stocks that settled lower. On the contrary, Bajaj Finance zoomed 4 per cent, most among the gainers. Bajaj Finserv, ICICI Bank, Tata Steel, IndusInd Bank, ICICI Bank and Axis Bank advanced 3 per cent each. Close to 970 stocks hit the upper circuit limits for the day and more than 140 stocks hit the lower circuits. About 200 stocks tested their 52-week highs during the session.

We have Narendra Solanki from Anand Rathi Shares & Stock Brokers to share his views on the action and the road ahead. Welcome to the show sir.
1. What was behind a strong rally today?
2. Should investors be bullish on auto stocks after a decent performance in December 2021?

We also caught up with Nirav Chheda from Nirmal Bang Securities to decode the technical charts for you.
1. Nifty50 settled over the 17,600 mark. Where is it headed now?
2. Nifty Bank outperformed the benchmark index. What's your take on it?

Asian markets settled mostly higher for the day. Major European markets were trading with decent gains 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!