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Let’s take a look at what happened on Dalal Street today.
Benchmark equity indices mostly corrected after a poor start on Wednesday. Gains in RIL, SBI and Maruti Suzuki helped the Sensex recover, while ITC witnessed selling pressure and select IT counters ensured to close the index in the red. The index fell 85 points to 51,849. Nifty 50 closed flat at 15,576. The broader markets outperformed the headline index. Fear gauge India VIX declined marginally.
ITC was the worst performer, falling 3 per cent, followed by Tech Mahindra and Axis Bank, falling 1 per cent each. IndusInd Bank, Power Grid and Reliance were the top gainers, up 2 per cent.
We have Binod Modi from Reliance Securities to share his thoughts on the stock and sector:
Welcome to the show, Mr. Modi:
>> After the recent rally, the market has breathed a sigh of relief. What are the things to be kept in mind in the coming days?
>> Brent has reached the mark of $ 70 per barrel. Do you see this impacting investor sentiment on Dalal Street?
We also got in touch with Aditya Agarwal of LKP Securities to decode the technical chart for you.
>> Nifty is still trading above its support level of 15,370. What are the charts suggesting?
>> Bank Nifty did not fall below 35,000 mark today. where is this going?
Asian markets closed with a mixed trend. Major European markets were up in the first few hours of trading. US stock futures were showing signs of a bearish start on Wall Street later in the day.
That’s all for now. Check out ETMarkets.com for all the news, market analysis, investment strategies and dozens of stock recommendations. Enjoy your evening. goodbye!
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