Closing Bell: Market ends higher amid volatility; metal, PSU banks drag

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August 09, 2021 / 04:20 PM IST

Anand Dalmia, Co-founder, Fisdom on July MF numbers published by AMFI:

Mutual funds, in aggregate, have recorded a steep jump in monthly inflows. With equity capital markets gaining robust traction, the effect is distinctly visible in the heavy influx into equity mutual funds, especially categories of largecap, flexicap and ELSS funds.

Prevailing market dynamics have been key to sparking a reversal for hybrid and dynamic asset allocation schemes, which witnessed healthy allocations by investors. The slew of heavyweight New Fund Offers has played a critical role in mobilising fresh inflows.

Healthy corporate treasuries have translated to a multifold increase of flows to liquid and money market schemes. Credit risk funds are gradually garnering investor interest after a rather long slump.

Overall, the increased quantum of accessible liquidity, promising macro-economics and improving public health situation has been effectively translating into heavily positive investor sentiments.

Closing Bell: Sensex, Nifty end higher amid volatility; PSU banks drag

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August 05, 2021 / 03:36 PM IST

Market Close: Benchmark indices ended in the positive territory on August 5 amid volatility.

At close, the Sensex was up 123.07 points or 0.23% at 54,492.84, and the Nifty was up 35.80 points or 0.22% at 16,294.60. About 1036 shares have advanced, 1933 shares declined, and 101 shares are unchanged.

On the sectoral front, Nifty PSU bank index shed 2 percent, while metal index rose 1 percent, and IT index was up 0.7 percent. The midcap index ended flat, while smallcap index fell 0.4 percent.

Bharti Airtel, Eicher Motors, ITC, Tech Mahindra and Tata Steel were the top Nifty gainers. SBI, IndusInd Bank, ICICI Bank, Bajaj Finance and Bajaj Finserv were among the top losers.

Closing Bell: Nifty ends above 16,250, Sensex gains 546 pts led by financials

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August 04, 2021 / 04:28 PM IST

Shrikant Chouhan, Executive Vice President, Equity Technical Research, Kotak Securities:

Bulls continue with the positive momentum as benchmark Nifty hit another fresh all time high of 16290.20 after a massive breakout. The uptrend was largely supported by the HDFC twins, private banks and financial stocks. Technically, on daily charts the index has formed breakout continuation formation, which is broadly positive for the market. But intraday charts and momentum indicators suggest temporary overbought situation and traders may take cautious stance near 16300 -16330 level.

We are of the view that in next few trading sessions buying on dips and sell on rallies would be the ideal strategy for the day traders. The trade setup suggests that 16200- 16150 would be the key support level for the bulls. On the flip side, the 16300-16330 level could be the immediate hurdle for the market.