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Nifty: Market Watch: Which sectors are showing value in this market? | The Economic Times Podcast

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.

> UBS revises India’s GDP forecast to 9.5% from 8.9%
> One in three Indians want to continue WFH
> LIC IPO expected to hit the market by Q4 of FY22
> Grants received by trusts to attract 18% GST
> Gold demand fizzles out amid rising prices
and
> SpiceJet, Boeing settle 737 MAX-related claims

Now, let us take a quick glance at what happened on Dalal Street today.

Domestic equity markets extended their weakness to the second straight session as rising inflationary pressures across the globe sparked fears of faster-than-expected rate hikes by central banks.

Pharma, realty and private lender stocks were among the top losers while auto players bucked the weak trend. BSE barometer gyrated in the range of 500 points to finally close the session 314 points down, a tad above the 60,000 mark. It has dropped nearly 700 points in just two sessions. Its broader peer Nifty50 bled over 100 points to settle a couple of points below 17,900.

Broader markets ended the day mixed. BSE midcap index settled in the red whereas BSE smallcap index gained marginally. Fear gauge India VIX eased over a per cent to below 15 level.

In the Sensex pack of stocks, Maruti Suzuki surged 3 per cent, followed by a 2 per cent rise in Asian Paints, Power Grid, NTPC and ITC. IndusInd Bank and Tech Mahindra added over a per cent each.

On the contrary, Axis Bank, Reliance and Kotak Mahindra Bank tanked 2 per cent each. Airtel, Titan, Dr Reddy’s Labs, HDFC Bank twins, TCS and HCL Tech shed a per cent each. Sun Pharma, Bajaj Auto, Tata Steel, HUL and M&M were among other losers. More than 350 stocks hit upper circuit limits for the day and over 200 stocks hit the lower circuit. About 95 stocks tested their 52-week highs during the session.

We have Vikas Jain from Reliance Securities to share his views on the day’s action and the road ahead. Welcome to the show sir.

1. Should investors turn to broader markets amid the volatility benchmark indices?
2. Which sectors are showing value in the current market?

We also caught up with Aditya Agarwala of Yes Securities to decode the technical charts for you.

1. Nifty 50 breached 17,900 level during the session. Where is it headed?
2. Nifty Bank is constantly showing weakness. What is your take on it?

Asian markets settled mostly lower for the day. Major European markets were trading mixed in the first few hours of trade. US stock futures were down hinting towards a negative start to US equities later today.

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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