Sensex Today: Indian equity markets remained volatile on Monday has investors looked for decisive cues.
The benchmark S&P BSE Sensex gyrated 672 points during the day, before settling 105 points (0.14 per cent) higher at 72,748 levels.
The Nifty50, on the other hand, ended at 22,056 level, clocking gains of 32 points (0.15 per cent). Tata Steel, JSW Steel, M&M, Tata Motors, Apollo Hospitals, Bajaj Auto, Coal India, Sun Pharma, Reliance Industries, Maruti Suzuki, Axis Bank, Dr Reddy’s Labs, Divis Labs, and ONGC were the top gainers, surging in the range of 1 per cent to 5 per cent.
Choppiness continued in the broader markets, too, with the BSE MidCap and Smallcap indices settling flat after see-sawing between gains and losses. The former added 0.04 per cent and the latter slipped 0.07 per cent.
Among sectors, the Nifty Metal index leaps 2.5 per cent, followed by the Nifty Auto (1.3 pe cent). On the downside, the Nifty IT index fell 1.6 per cent.
3 events that will shape the markets in near-term
The week ahead is likely to be highly volatile. Many events like the US Fed meeting outcome on Wednesday, the spike in the US 10-year bond yield to 4.3%, and the possible Sebi directives based on the stress tests in mid and small cap schemes will influence the market in the near-term.
US Fed
If the Fed message has any slightly hawkish tone in response to the recent stubborn inflation trend, that would be negative for the mother market and consequently for other markets too.
The spike in US 10-year bond yield to 4.3% is negative for foreign portfolio flows.
Mid, small-caps
The concern regarding the elevated valuations in the mid and smallcaps continues despite the stability witnessed in these segments last Friday.
Strategy
Investors may adopt a wait and watch strategy and may buy largecaps in capital goods, banking, telecom and automobiles on dips.
Views by: V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
Global Cues
Asian shares firmed on Monday as Chinese data surprised on the upside for once, while investors looked to navigate a minefield of central bank meetings this week that could see the end of free money in Japan and a slower glide path for US rate cuts.
Tokyo shares opened higher Monday as investors cheered the yen’s slide while the Bank of Japan prepared to start a two-day policy meeting. The benchmark Nikkei 225 index added 0.83 percent or 319.87 points to 39,027.51 in early trade, while the broader Topix index climbed 0.93 percent, or 24.93 points, to 2,695.73.
US stocks fell on Friday, led by technology-related megacaps that have propelled this year’s rally, while investors weighed the interest rate outlook ahead of next week’s Federal Reserve meeting.
Comments
0 comment