nifty50: Market Watch: After 17,000, where is Nifty50 heading?


Welcome to ETMarkets Watch, the show about stocks, market trends and money making ideas. I’m Bhaskar Dutta and here are the headlines at this time.

– Hero Moto will increase prices from January
– The AstraZeneca booster acts against Omicron: Study
– SOS call answered, telecom sector to ring in 5G
– FIEO targets 460-475 billion dollars in exports for the next fiscal year
– 60% of the adult population vaccinated, according to the government
and
– Pharma seeks to maintain its momentum in 2022

Let’s take a quick look at what happened in Dalal Street today.

Domestic stock markets finished on a positive note for the third consecutive session, reflecting positive sentiment in global markets. However, the increase in cases of the Omicron variant of Covid as well as profit taking at higher levels reduced the gains.

With the exception of the Media and Metals sectors, all others have shown buying interest. BSE barometer Sensex gained just under 400 points to close above 57,300 levels. Its larger counterpart Nifty50 added around 120 points and ended the session above the 17,000 mark. Larger markets outperformed major competitors, with BSE mid and small caps each gaining one percent. India’s VIX fear indicator fell sharply by around 5 percent and slipped below 16 levels.

On BSE Sensex, Power Grid led the winners with a 3% increase. It was followed by ITC, Bajaj Finance and NPTC, which rose 2 percent each. Tech Mahindra, Wipro, SBI, Bajaj Finserv, Bajaj Finance, Axis Bank, Titan, HDFC and M&M added more than 1% each. Among the main losers are Airtel, Sun Pharma, Maruti and Ultratech Cement.

About 545 stocks reached the upper circuit limits for the day and over 160 stocks reached the lower circuits. More than 90 stocks tested their 52 week highs during the session.

We have Vinod Nair from Geojit Financial Services to share his perspective on today’s action and the road ahead. Welcome to the show sir.
1. Markets have been trending upward lately. What are the reasons ?
2. Which sectors do you think will outperform in 2022?

We also sat down with Rohit Sigre from LKP Securities to decode the technical tables for you.
1. Nifty was able to maintain above 17,000 levels. Where is he going now?
2. What do you think of Nifty Bank?

Asian markets settled higher for the day. Major European markets were trading with gains in the early hours of trading. US equity futures were 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!


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