Last Updated: March 14, 2024, 15:46 IST
Key benchmark indices bounced again in trades on Thursday led by good points in index heavyweights Bharti Airtel, Larsen & Toubro and IT shares.
From a low of 72,497, the S&P BSE Sensex rebounded into the constructive zone and rallied to a excessive of 73,364. The BSE benchmark finally ended the day with a achieve of 335 factors at 73,097.
The NSE Nifty 50 hit a low of 21,918, and a excessive of twenty-two,205, earlier than settling 149 factors up at 22,147.
Stock Market View | Dr. V Okay Vijayakumar, Chief Investment Strategist, Geojit Financial Services
The lesson from market historical past is that frothy valuations are unsustainable. Therefore, the blood bathtub within the broader market which occurred yesterday is hardly stunning to sane minds within the business.
Investors ought to admire the next info.
The Nifty Smallcap index is down 13.5% and the midcap index is down 6.8% from their respective peaks. But Nifty is steady with a minor reduce of solely 2.1%.
There is room for the broader market to appropriate extra for the reason that valuations proceed to be elevated.
Investors ought to now give attention to largecaps and high quality midcaps. The turbulence out there will give cherry selecting alternatives.
From now on irrational exuberance will take a again seat and rational valuations and high quality would be the driving pressure. This turbulence will separate the lads from the boys. High high quality personal sector banks and the main names in capital items, telecom and autos could be amassed in a calibrated method.
Global Cues
Tokyo shares opened decrease Thursday, monitoring falls on Wall Street, the place traders had been eyeing key upcoming financial indicators.The benchmark Nikkei 225 index dropped 0.52 %, or 201.57 factors, to 38,494.40 in early commerce, whereas the broader Topix index additionally fell 0.24 %, or 6.40 factors, to 2,641.11.
The S&P 500 and Nasdaq edged decrease on Wednesday as traders took earnings in chipmaker shares, whereas they braced for producer worth information and additional clues on the inflation development forward of subsequent week’s Federal Reserve assembly.
