Nifty: Market Watch: Which Sectors Are Currently Offering the Best Value?
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Let’s take a quick look at what happened in Dalal Street today.
The bears had a head start over the bulls on Thursday as a rally staged by the intraday benchmarks could not hold until the end. Sensex closed down some 250 points at 59,400 odd levels. Nifty50 fell 0.2% to stay above the 17,700 mark. A total of 18 Sensex stocks finished lower, with HDFC, Kotak Mahindra Bank, Asian Paints, UltraTech Cement, HUL and HDFC Bank falling from 1 to 2%. ICICI Bank and TechM also fell more than 1%. This contrasted with the general market trend, however, where two out of three stocks ended higher for the day.
We have Vikas Jain from Reliance Securities to share his take on today’s action and the way forward:
Welcome to the show sir:
1) Given the intraday volatilities, what would you advise investors?
2) What are the sectors that you find interesting in terms of valuation?
We also sat down with Aditya Agarwala from YES Securities to decode the technical tables for you.
1) What do the technical graphics of the Nifty50 refer to?
2) What is your opinion on Nifty Bank?
Asian markets moved as much as 2 percent lower for the day. European markets were trading up to 1 percent higher in the first few hours of trading. US equity futures were quoting 0.7% higher, pointing to a positive start for US stocks later in the day.
That’s all for the moment. Check out ETMarkets.com for all the news, market analysis, investment strategies, and dozens of stock recommendations. Enjoy your evening. Bye Bye!