Jayant Manglik, President, Retail Distribution, Religare Securities Nifty opened with an uptick and managed to settle with decent gains amid volatility. Buoyancy on the local front helped the index to make a firm start as participants took note of RIL's results and contraction in trade deficit figure. Some support also came in with further strengthening of rupee against the dollar combined with favorable global cues. However, traders really had a tough time on specific stocks due to excessive volatility. On sectoral front, noticeable buying was witnessed on metal, pharma, realty and auto stocks while PSU banks remained under pressure. We reiterate our positive view on Nifty and expect 10,400 to be tested shortly. Any intermediate pause or decline should be considered as buying opportunity. Volatility is not new during the earnings season, so traders should focus on position management also.
The benchmark indices kicked off the holiday truncated week at record highs with the Nifty50 settling above 10,200 for first time ever thanks to gains in index heavyweights Bharti Airtel and Mahindra & Mahindra. Asian markets advancing to a decade high also contributed to the gains. The Sensex gained as much as 254 points to hit its record high of 32,687 in intraday trade, while the broader Nifty50 rallied 75 points to log its fresh peak of 10,243. Among individual stocks, Bharti Airtel, Federal Bank, Bharat Financial Inclusion and ...
TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST Rs
Key stories on business-standard.com are available to premium subscribers only.
Already a premium subscriber? LOGIN NOW






What you get?
ON BUSINESS STANDARD DIGITAL
- Unlimited access to all the content on any device through browser or app.
- Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
- Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
- Track the industry of your choice with a daily newsletter specific to that industry.
- Stay on top of your investments. Track stock prices in your portfolio.
- 18 years of archival data.
NOTE :
- The product is a monthly auto renewal product.
- Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
- To cancel, communicate from your registered email id and send the email with the cancellation request to assist@bsmail.in. Include your contact number for speedy action. Requests mailed to any other ID will not be acknowledged or actioned upon.






What you get
ON BUSINESS STANDARD DIGITAL
- Unlimited access to all content on any device through browser or app.
- Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
- Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
- Track the industry of your choice with a daily newsletter specific to that industry.
- Stay on top of your investments. Track stock prices in your portfolio.
NOTE :
- The monthly duration product is an auto renewal based product. Once subscribed, subject to your card issuer's permission we will charge your card/ payment instrument each month automatically and renew your subscription.
- In the Annual duration product we offer both an auto renewal based product and a non auto renewal based product.
- We do not Refund.
- No Questions asked Cancellation Policy.
- You can cancel future renewals anytime including immediately upon subscribing but 48 hours before your next renewal date.
- Subject to the above, self cancel by visiting the "Manage My Account“ section after signing in OR Send an email request to assist@bsmail.in from your registered email address and by quoting your mobile number.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU