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Market Watch (ETMarkets.com)
How to ride current market volatility & which sectors to avoid
07:02 Min | February 17, 2022, 7:37 PM IST
The benchmark indices dropped sharply lower in the second half as the tensions between Ukraine and Russia intensified. Hawkish tone of the Federal Reserve also hurt the sentiments, which may add to the FII outflows.
Transcript
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.
Banking sector in the pink of health, says Ind-Ra
- India gets 10 bids for 8 oil and gas blocks in latest bid round
- Jio loses nearly 13 million 4G users in Dec
- 2021 was very challenging, says Nestle India MD
- Addverb gets $1 billion robot order from RIL
- Maruti partners with Quiklyz for subscription
Let us take a quick glance at what happened on Dalal Street today.
Domestic equity market extended its losing streak to a straight second session as Dalal Street witnessed another volatile session which ended with cuts. The benchmark indices dropped sharply lower in the second half as the tensions between Ukraine and Russia intensified. Hawkish tone of the Federal Reserve also hurt the sentiments, which may add to the FII outflows.
Banking stocks bled the most followed by IT and Pharma. The BSE barometer Sensex gyrated in the range of 710 points. It dropped more than 100 points and settled below the 57,900 mark. The index dropped about 450 points from the day's highest levels. Its broader peer, Nifty50, barely managed to hold 17,300 levels at close. It dropped 18 points and ended the session merely five points above the aforementioned mark. It dropped about 140 points from the day's peak.
Broader markets underperformed the headline peers as both BSE midcap and smallcap indices settled lower, with the latter one easing about a per cent. Fear gauge India VIX spiked as much as 7 per cent and crossed 22-levels.
On BSE Sensex, ICICI Bank, Ultratech and Axis Bank topped the losers’ list, with a 2 per cent fall in each. IndusInd Bank, Nestle, TCS, Sun Pharma, HDFC Bank, SBI, Bajaj Finserv, Airtel and Kotak Mahindra Bank also shed a per cent each. Dr Reddys, HCL Tech and Infosys registered significant cuts.
Among the gainers, HDFC advanced the most with a 2 per cent rise, followed by a one per cent fall in Reliance and HUL both. Power Grid, L&T, Titan, Asian Paints and Tech Mahindra saw decent gains.
More than 275 stocks hit upper circuits during the session, over 280 stocks tested their lower circuit limits. As many as 29 stocks tested their 52-week highs during the session, whereas the same number of stocks tested their 52-week lows.
We have Vinod Nair from Geojit Financial Services to share his views on the action and the road ahead:
Welcome to the show sir:
1. What should be a prudent approach to ride through the current volatility of the markets?
2. Do you see any opportunities in the second rung stocks? If yes, then which are the sectors to watch out for?
We also caught up with Sameet Chavhan from Angel One to decode the technical charts for you.
1. Nifty barely managed to settle above the 17,300 mark. Where is it headed now?
2. NIfty Bank has shown more weakness to the benchmark index. What is your take on it?
Asian markets settled higher for the day. Major European markets were trading mostly with cuts in the first few hours of trade. However, US stock futures were down hinting towards a negative 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!
Banking sector in the pink of health, says Ind-Ra
- India gets 10 bids for 8 oil and gas blocks in latest bid round
- Jio loses nearly 13 million 4G users in Dec
- 2021 was very challenging, says Nestle India MD
- Addverb gets $1 billion robot order from RIL
- Maruti partners with Quiklyz for subscription
Let us take a quick glance at what happened on Dalal Street today.
Domestic equity market extended its losing streak to a straight second session as Dalal Street witnessed another volatile session which ended with cuts. The benchmark indices dropped sharply lower in the second half as the tensions between Ukraine and Russia intensified. Hawkish tone of the Federal Reserve also hurt the sentiments, which may add to the FII outflows.
Banking stocks bled the most followed by IT and Pharma. The BSE barometer Sensex gyrated in the range of 710 points. It dropped more than 100 points and settled below the 57,900 mark. The index dropped about 450 points from the day's highest levels. Its broader peer, Nifty50, barely managed to hold 17,300 levels at close. It dropped 18 points and ended the session merely five points above the aforementioned mark. It dropped about 140 points from the day's peak.
Broader markets underperformed the headline peers as both BSE midcap and smallcap indices settled lower, with the latter one easing about a per cent. Fear gauge India VIX spiked as much as 7 per cent and crossed 22-levels.
On BSE Sensex, ICICI Bank, Ultratech and Axis Bank topped the losers’ list, with a 2 per cent fall in each. IndusInd Bank, Nestle, TCS, Sun Pharma, HDFC Bank, SBI, Bajaj Finserv, Airtel and Kotak Mahindra Bank also shed a per cent each. Dr Reddys, HCL Tech and Infosys registered significant cuts.
Among the gainers, HDFC advanced the most with a 2 per cent rise, followed by a one per cent fall in Reliance and HUL both. Power Grid, L&T, Titan, Asian Paints and Tech Mahindra saw decent gains.
More than 275 stocks hit upper circuits during the session, over 280 stocks tested their lower circuit limits. As many as 29 stocks tested their 52-week highs during the session, whereas the same number of stocks tested their 52-week lows.
We have Vinod Nair from Geojit Financial Services to share his views on the action and the road ahead:
Welcome to the show sir:
1. What should be a prudent approach to ride through the current volatility of the markets?
2. Do you see any opportunities in the second rung stocks? If yes, then which are the sectors to watch out for?
We also caught up with Sameet Chavhan from Angel One to decode the technical charts for you.
1. Nifty barely managed to settle above the 17,300 mark. Where is it headed now?
2. NIfty Bank has shown more weakness to the benchmark index. What is your take on it?
Asian markets settled higher for the day. Major European markets were trading mostly with cuts in the first few hours of trade. However, US stock futures were down hinting towards a negative 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!
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