Sensex: Market Watch: Will the upward momentum continue till F&O expiry? | The Economic Times Podcast

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

-Sebi tightens screws on IPO disclosures by companies
-Sebi eases lock-in rules for preferential issue of shares
-India may face an intense but short outbreak of Covid-19
-Sun Pharma gets nod to market Covid drug Molnupiravir
and
-India’s real GDP growth pegged at 9% in FY22

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

The domestic equity market extended its gains from Monday, albeit on low volumes, as most trading desks on Dalal Street remained deserted ahead of the New Year. Investors were able to sidestep concerns around the new Covid variant after the government took steps to improve its arsenal against the virus by approving two new vaccines and a new treatment drug.

On the BSE-Sensex, all but two stocks ended the session in the green with shares of Sun Pharmaceutical, Asian Paints, M&M and Titan leading the charge.

In the broader market, midcap and smallcap stocks sharply outperformed their large-cap peers, aided by buying from local mutual funds and retail investors. Economy-linked stocks such as Oil India, Tata Chemicals, Deepak Nitrite and others dominated the gains in the broad market.

We have Shivangi Sarada of Motilal Oswal Financial Services to share her views on the day’s action and the road ahead:
Welcome to the show, ma’am:
1. The index managed to build on Monday’s strength. Do you expect this momentum to continue till the upcoming F&O expiry?
2. Automobile and ancillary stocks were outperformers today. Should they be on investors’ radar from an investment point of view?

We also caught up with Rohit Singre of LKP Securities to decode the technical charts for you.
1. Nifty crossed the crucial level of 17,200. Should we expect the momentum to pick up from here on the upside?
2. Nifty Pharma handsomely outperformed the benchmark. What’s your take on that index?

Asian markets settled the day in the green. Major European markets were also trading with strong gains in the early hours of trade. US stock futures were up hinting towards 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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