IT stocks Q2 earnings: Market Watch: What are the earning expectations from the IT sector in Q2? | The Economic Times Podcast
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Let us take a quick glance at what happened on Dalal Street today.
Domestic equity markets ended the week with strong gains, thanks to the RBI promise to support the markets. Central bank’s accommodative stance lifted the benchmark indices. Markets will now react to India Inc’s Q2 earnings, whereas investors are awaiting US non farm payroll data scheduled later in the day. BSE Sensex jumped over 380 points, to end the week 60 points above 60,000 mark. Nifty50 gained about 105 points to settle just 5-odd points below 17,900. BSE midcap index underperformed and BSE smallcap index outperformed but both the indices settled in green. Fear gauge India VIX eased over 3 per cent, falling below the 16 level again.
On BSE Sensex, Reliance led the gainers from the front, zooming 4 per cent. Infosys and Tech Mahindra gained 2 per cent each. They were followed by HCL Tech, TCS, Tata Steel, L&T, Axis Bank, Asian Paints, Bajaj Finserv and IndusInd Bank added a per cent each. On the other hand, HUL and NTPC tanked over a per cent each. Kotak Mahindra Bank, Maruti, Dr Reddy’s, Titan, HDFC Bank and ITC shed up to a per cent each. About 415 stocks hit upper circuit limits for the day, whereas 140 stocks hit the lower circuit. Over 135 stocks tested their 52-week highs during the session.
We have Arijit Malakar from Ashika Stock Broking to share his views on the day’s action and the road ahead:
Welcome to the show sir:
1. What are the key takeaways for D-St from the RBI commentary?
2. What are your broad expectations from IT sector earnings this time?
We also caught up with Nilesh Jain of Centrum Broking to decode the technical charts for you.
1. Nifty50 was able to hold 17,900 during the day. Should one expect 18,000 soon?
2. Nifty bank gave up the early gains in the afternoon session. Where is it headed?
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 flat hinting towards a muted 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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