Despite the Sensex and Nifty indices reclaiming their crucial resistances, this situation on chart indicates weakness and hints at a probability of further decline
Most Asian markets traded weak after the overnight fall in the US markets
The rising death toll, slow roll-out of vaccination, and Covid-19 spreading to rural areas may keep the upside in contained in the markets, believe analysts
Fall in Covid-19 cases, prospect of economy normalising in near term lift indices for a second day
During an interview, Gopkumar tells Ashley Coutinho that large companies in the financial space will gain market share and manage their books better
The uptick in global markets on optimism over the economic recovery helped counter concerns over rising inflation.
Analysts say there's still appetite for firms with solid fundamentals
The Nifty ended the session at 14,696, with a decline of 154 points, or 1 per cent.
Profit-booking in banking, finance and metal counters further weighed on bourses, traders said
This came amid buoyancy in the secondary market
Over the last four sessions, the Sensex has gained 1,248.90 points or 2.58 per cent.
Outperformance to Nifty sharpest in more than a decade
Investors' wealth has increased by Rs 6,44,760.45 crore in four trading sessions on the back of an equity market rally
On a weekly basis, both the frontline indices snapped their 3-week losing streak and added around 2 per cent higher each
Among key sectoral indices, robust global demand lifted the Nifty Metal index to record peak of 4,869 on the NSE today
Nifty Bank is expected to rally over 5 per cent once 34,350 is conquered and held on a closing basis, technical charts suggest
CLSA opines that the surge in Covid cases in Maharashtra may taper in May as the state is in its fourth-month of the second wave. This, it believes, will be positive for the markets
Hindalco, L&T, Tata Steel, Divis Labs, Reliance Industries, Bajaj Finance, and SBI were the top gainers on the 50-share pack
Investors booked profit in the pharma counters after a healthy rally over the past week. The index settled 0.87 per cent down.
The overall market breadth remained in the favour of the bulls, courtesy rally in the broader markets