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Displaying signs of imminent consolidation, Indian equities took a breather during the week gone by and ended with a modest cut. The market breadth remained a bit wider than it was during the week before, as Nifty oscillated in a 533-point range during the week. The five sessions also saw the market close at yet another lifetime high, and then the index pared some of the gains in the following days. From a technical perspective, some fatigue at higher levels was visible as Nifty closed with a net loss of 181.55 points, or 1.20 per cent.
Volatility did not show any spike. INDIA VIX rose just 0.94% to 22.25 level on a weekly note. As we head into the expiry of the monthly derivative series, the market is likely to be dominated by rollover-centric activities in the coming week. The index is likely to move in a defined range in the coming five sessions, with the upside capped.
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Market Watch (ETMarkets.com)
05:28 Min | February 16, 2021, 6:29 PM IST
Tune in as we discuss what the near-term triggers are for market, what investors should do now, and more!
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Welcome to ETMarkets Watch, the show about stocks, market trends and money-making ideas. I am Nikhil Agarwal and here are the top headlines at this hour.
Bitcoin hits fresh all-time high to hit $50,000-mark
S&P says Indian economy on track for recovery
RailTel IPO sails through on Day 1 itself
Future Group creditors scramble to recover $2.5 billion
Govt hints at action on OTT platforms
We are hedged to about 50% even now, and in terms of net exposure, it would also be 50%. If the markets go up, 1% we make about half a percent. But, we curtail the downside risk significantly by hedging, explains Nikhil Kamath of Zerodha.
During the week gone by, the market behaved in stark contrast to the behaviour seen in the previous week, as Nifty again scaled new highs and closed with robust gains. The previous week had seen the headline index decline tank 737 points. Over the past five days, the market gave a thumb-up to the Union Budget. All through these five session, Nifty witnessed a parabolic and vertical rise. The index tested the psychologically important 15,000 mark on Friday, as it hit a new intraday high of 15,014 before coming off from that point. The index ended the week on a very strong note with a net gain of 1,289 points, or 9.46 per cent, on a weekly basis.
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Market Watch (ET Online)
07:02 Min | January 20, 2021, 7:52 PM IST
Tune in as we discuss market s expectations from Biden s address, where is Bank Nifty headed, and more!
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Welcome to ETMarkets Watch, the show about stocks, market trends and money-making ideas. I am Nikhil Agarwal and here are the top headlines at this hour.
Sensex, Nifty end at record closing high
Bajaj Finance Q3 profit down 29%
Moody s says Indian insurers prepared to withstand economic downturn
Govt raises authorised capital of Punjab & Sind Bank to Rs 10,000 crore
Joe Biden s immigration bill to benefit Indians