#NDTVProfitMarketWrap | #Sensex, #Nifty end higher for a second day as #SBI leads recovery.
Here's Hersh Sayta with the wrap.
Read: https://bit.ly/49BqU8O
Here's Hersh Sayta with the wrap.
Read: https://bit.ly/49BqU8O
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TVTranscript
00:00 Well, what a stellar rebound we've seen in markets today, largely led by the PSU Banks
00:05 and the PSU PAC.
00:06 Let's start off with the Nifty 50 up 0.5%, very close to the day's high 21840.
00:13 Little did we expect to close above the 21800 mark when we started off today.
00:17 We would have taken it with both our hands and that's exactly what's happened.
00:21 The Nifty Bank also solid 0.9% higher, 400+ points of gains, very close to that 46,000
00:28 mark again now on the Nifty Bank.
00:31 Let's quickly take it to the heat map itself to try and assess as to where the gains have
00:35 come from.
00:36 I did speak about the Nifty PSU PAC.
00:38 That's where the gains came from and you can see that 4.2% high on SBI, which has led both
00:44 the Nifty PSU as well as the Nifty Bank in trade today.
00:47 But outside of that, some of the IT stocks saw some weakness after the kind of macro
00:53 picture we saw coming in from the US in terms of the handover.
00:56 OMC stocks were buzzing up and away, BPCL, ONGC both higher and higher by quite a bit.
01:03 BPCL just built on the gains from the start of the day.
01:06 You had Coal India as well among the gainers.
01:09 Axis also took home some gains.
01:12 You had Power Grid also taking home some gains.
01:14 So overall, it looks like a very, very good day, especially the way we had started and
01:19 the way the day was progressing.
01:20 We've closed off quite strong.
01:23 In terms of sectors, let's quickly look at them and what you'd see is the top sectoral
01:27 gainers were the PSU PAC.
01:30 PSE up 3.3%, the PSU Bank up 3.2%, the Nifty Bank obviously up just about 9/10 of a percent.
01:39 So nowhere in sight there at the moment.
01:41 Nifty Pharma and Nifty IT were the two laggards.
01:43 No surprises there given the weak global cues.
01:46 In terms of the Nifty PSE, let's delve into that, look at the contributories and we saw
01:52 a sea of green within that PAC.
01:54 Nalco, strong earnings, but HPCL, BPCL, Oil India, all of those also doing fairly well
02:00 within the Nifty PSE PAC.
02:03 The Nifty PSU Bank as well, if we can have those names and you'll see again a sea of
02:07 green across the board, no contributories in the red.
02:10 So overall, it's a day of gains led by the PSUs.
02:15 Of course, both OMCs as well as banks pulling some weight along with metals.
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