Market Watch: Can Q4 earnings season propel Sensex to new highs? | The Economic Times Podcast

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Market Watch: Can Q4 earnings season propel Sensex to new highs? | The Economic Times Podcast


Welcome to ETMarkets Watch, the show about stocks, market trends and money-making ideas. I am Sabari Saran. and here are the top headlines at this hour.

Equity mutual funds see first inflow in 9 months in march
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Macrotech Developers IPO subscribed 30% on Day 2 so far
NBCC, Suraksha submit revised bids to acquire Jaypee Infratech
PV retail sales up 28% in March, says FADA
AstraZeneca sends legal notice to Serum

Let us take a quick glance at what happened on the Dalal Street today.

BSE benchmark Sensex hit 50K level while its NSE counterpart Nifty reclaimed 14,900 level, only to see selling pressure at highs, as both the indices eventually ended up with marginal gains. Sensex settled near 49,750, up 84 points while Nifty closed at 14,784, up 0.3 per cent. Sentiment in the broader market was strong, with 223 stocks hitting 52-week highs for the day, 327 hitting upper circuit limits and 1,860 out of 3,100 odd stocks that traded for the day ending higher. Fed minutes for March released overnight suggested that while the US economy was gathering steam, Fed officials remained cautious about the pandemic risks and were committed to pouring on monetary policy support until a rebound was more secure.

We have Vinod Nair of Geojit Financial Services with us to share his views on the market.

Welcome to the show, sir.

1) Do you think that quarterly earnings can help the market move out of the ongoing consolidation phase?
2) Can we hit fresh record highs soon?
3) Metals, private banks and autos– what else could deliver this earnings season?

We also caught up with Ashis Biswas, Head of Technical Research at CapitalVia Global Research, to decode the technical charts for you.

1) Nifty on Thursday came close to the 15,000 mark, but saw selling pressure thereafter. What is the index’s daily chart suggesting?
2) What is your view on Nifty Bank?

Asian markets settled up to 1.5 per cent high for the day; European markets were mostly positive in the first few hours of trade. US stock futures were hinting at a positive 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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