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SENSEX
NIFTY 50
NIFTY MIDCAP 100
S&P BSE MIDCAP
Hang Seng
Taiwan Weighted
DAX
Nasdaq
MCX GOLD DEC 05
MCX SILVER DEC 05
MCX CRUDEOIL NOV 16
MCX NATURALGAS OCT 26
USD/INR
EUR/INR
GBP/INR
JPY/INR

Stock Market Live: Sensex down 450 points, Nifty below 14,400; auto, IT stocks drag

Asia shares cautious ahead of US earnings and inflation data

Oil holds near one-month highs as demand forecasts raised

Rupee slips below 75/USD level in early trade ahead of release of key macroeconomic data

Taking Stock: D-Street ends lower for 2nd week running as Sensex, Nifty fall 3%

Updated : February 26, 2021 07:03 PM IST

US treasury yields spooked global markets, Indian markets fell in line with their peers. Markets erased 50 percent of the gains that it saw post-budget 2021 to record its biggest single-day fall in the last 10 months.

The markets ended lower for the second week in a row with the Sensex and Nifty losing over 3 percent.

In this episode of Taking Stock, Harsha Upadhyaya, CIO - Equity at Kotak MF and Jonathan Schiessl, Emerging Market Strategist spoke to CNBC-TV18to discuss the week gone by.

On earnings growth, Harsha Upadhyaya said, “The earnings growth momentum seem to be very strong. We have had two-quarters of 20 percent plus kind of an earnings growth on a year-on-year basis. We all know that March 2020 and June 2020 quarters were very weak so we are going to have a very favourable base when we get into the current quarter and the next quarter. So overall valuations are on the higher side but earnings growth is still quite visible and quite strong.”

He further added, “Our take has been more towards domestic cyclicals stories in the recent past. We did add some of the defensives like IT, pharma and FMCG when the COVID crisis was at its peak. Later on slowly and gradually we have moved to a more domestic cyclical and that is what we will continue to look for in terms of opportunities. We have had some improvement in terms of the topline growth for some of the cyclical names but more importantly thanks to the budget announcement and the spend that is going to come through during this year and also because of the economy reopening completely we will see demand coming out very well and that should support topline.”

On this market correction, Jonathan Schiessl said, “I think it is a healthy correction, this is not the end of this long bull markets, and this is certainly a shakeout as you mentioned the moment ago. One thing we certainly have got is increased volatility, I think we have to get used to that but this is not the end of the bull market.”

Also, watch Rohit Srivastava, founder & strategist of Indiacharts.com giving his view on the technicals for next week.

Watch accompanying video for more.

Published : February 26, 2021 07:03 PM IST

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