Market Watch: Why are investors ignoring rising Covid cases? | The Economic Times Podcast

Welcome to ETMarkets Watch, the present about shares, market traits and money-making concepts. I’m Nikhil Agarwal and right here are the highest headlines at this hour.

Karnataka govt broadcasts 14-day Covid curfew
Blackstone commits $2.8 bn to accumulate majority stake in Mphasis
PowerGrid InvIT IPO set to hit market on Thursday
Tech Mahindra This autumn PAT falls 17.4% QoQ
RBI caps financial institution CEO tenure at 15 years

Let us take a fast look at what occurred on the Dalal Street right now.

Strong quarterly numbers by ICICI Bank despatched banking shares hovering on Monday, serving to the 2 key indices clock 1 per cent acquire every. Investor sentiment was additional boosted by measures taken by the federal government to satisfy oxygen provides. The US’ assurance on sending uncooked supplies required for making Covid vaccines additionally soothened investor nerves.

Sensex soared 508 factors to shut close to 43,400 stage. Nifty superior 1 per cent to 14,485.

Axis Bank climbed 4 per cent; ICICI Bank, ExtremelyTech Cement, SBI and Hindustan Unilever rose 3 per cent every. Power Grid, TechM and Bajaj Auto added 2 per cent every. On the flipside, HCL Tech tanked 3 per cent on disappointing This autumn outcomes. Sun Pharma, HDFC and Maruti Suzuki fell as much as 1 per cent.

We have with us Narendra Solanki of Anand Rathi Financial Services to share his views in the marketplace.

Welcome to the present sir.
1) Banking shares largely led Monday’s rally. Would you be a purchaser of financial institution shares at prevailing valuations?
2) Despite 3 lakh plus each day Covid circumstances, the market is just not panicking. Why?

On technical charts, we caught up with Nilesh Chheda of Nirmal Bang Securities to decode the charts.
1) Nifty on Monday noticed a powerful comeback. But the index failed to shut above 14,500 stage. What are charts suggesting?
2) Nifty Bank carried out fairly properly. Do you suppose a near-term backside has been made on the index?

Asian markets ended principally blended for the day. European markets have been buying and selling flat within the first few hours of commerce. US inventory futures have been additionally hinting at a flat begin to US equities later within the day.

That’s all for now. Do take a look at for all of the information, market evaluation, funding methods and dozens of inventory suggestions. Enjoy your night. Bye Bye!

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