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Nifty set for another choppy session? Is IT recovery for real? IREDA IPO kicks off

Indian equity benchmarks ended lower for the second consecutive session on November 20 with the Sensex closing down 139.58 points or 0.21 percent at 65,655.15, and the Nifty falling 37.80 points or 0.19 percent to end at 19,694. Amid mixed global cues, the market started on a subdued note and remained rangebound during the day, with the Nifty falling below 19,700 amid selling seen in the auto, capital and FMCG names. This morning the GIFT Nifty is hinting at a start around 19,800 backed by strong global cues. Wall Street clocked overnight gains with S&P500 notching a fifth straight day of gains. IT stocks continue to see buying interest even as Jefferies sounds caution. The global brokerage believes the IT rally may be overdone as near-term outlook remains weak. Is the recovery that has played out in tech stocks for real? Also among stocks in focus today, we put the spotlight on Rategain Travel, ABB India and Oberoi Realty. Catch Nandita Khemka in conversation with Sacchitanand Uttekar, VP-Research (Derivatives And Technicals), TradeBulls Securities and Ashutosh Sharma, Head-Forrester Research India.

first published: Nov 21, 2023 08:36 am