Market Watch: What D-Street will look out for in President Joe Biden’s inaugural address | The Economic Times Markets Podcast

Market Watch: What D-Street will look out for in President Joe Biden's inaugural address | The Economic Times Markets Podcast

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

Sensex, Nifty end at record closing high
Bajaj Finance Q3 profit down 29%
Moody’s says Indian insurers prepared to withstand economic downturn
Govt raises authorised capital of Punjab & Sind Bank to Rs 10,000 crore
Joe Biden’s immigration bill to benefit Indians

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

Two days of back-to-back rally has brought the bulls back into the game. Sensex rose nearly 400 points and was just 200 points away from hitting the 50,000 mark while Nifty was near 14,650 level at close.

The gains were led by index heavyweights such as Reliance, Infosys, HDFC and TCS.

Reliance Industries rose 1.9 per cent, Infosys added 1.70 per cent, while TCS and HDFC gained 1 per cent each.

In the broader market, Adani Transmission surged 9 per cent, Apollo Tyre and MRF climbed 6.7 per cent each. Tata Motors, Adani Ports and Varun Beverages added 5-6 per cent.

We caught up with Gaurav Dua of Sharekhan to know his views on the market.

Welcome to the show, Mr Dua
1) With Biden taking oath as US President later today, what would domestic stock investors be eyeing in his inaugural address?

2) Do you think rising virus cases in China may renew doubts over the global economic recovery and hurt market sentiment?

On technical charts, Nifty made a strong bullish candle for the second day. We caught up with Amit Trivedi of YES Securities to decode the charts.

Welcome to the show, Mr Trivedi
1) Where is Nifty50 headed?

2) What’s your take on Nifty Bank?

Globally, Asian markets ended mostly high. European markets were trading positive in the first few hours of trade. US stock futures were hinting at a strong start for US equities later in the day.

That’s all for now. Do check out for all the news, market analysis, investment strategies and dozens of stock recommendations. Enjoy your evening. Bye Bye!

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