April 20, 2021

Market Watch: What ought to ITC traders do after Q3 numbers?



Welcome to ETMarkets Watch, the present about stocks, market tendencies and money-making concepts. I’m Nikhil Agarwal and listed here are the highest headlines at this hour.

SC upholds validity of e-voting for winding up of six Franklin schemes
Petrol value crosses Rs 88-mark in Delhi, diesel breaches Rs 85 in Mumbai
ITC sinks 4% as traders unimpressed by Q3 numbers
Ex-ICICI Financial institution CEO Chanda Kochhar granted bail in PMLA case
Motherson Sumi Q3 revenue practically triples to Rs 798 crore

Allow us to take a fast look at what occurred on the Dalal Avenue right now.

The bulls didn’t maintain their grip in the marketplace as benchmark indices gave up their beneficial properties to finish largely flat for the day. Weak cues from different Asian and European markets in addition to the energy within the US greenback dampened danger urge for food on the Avenue. For the day, Nifty ended 10 factors decrease however held above the 15,150 mark. Sensex rose 13 factors.

ITC, RIL, Bharti Airtel and Solar Pharma had been the most important drag on the benchmarks, however they had been partially offset by the energy in some giant personal banks. ITC slumped Four per cent on disappointment over its Q3 efficiency.

Among the many gainers, shares of Adani Ports and ICICI Financial institution rose three per cent every. Motherson Sumi jumped 10 per cent after a stellar earnings present.

Now we have with us Paras Bothra of Ashika Inventory Broking to debate what traders can count on from ITC going forward and his sectoral picks submit the Q3 earnings season.

Welcome to the present, Mr Bothra!

1) Which sectors would you suggest traders to guess on after the Q3 numbers?

2) Is it value shopping for ITC after its Q3 numbers and right now’s correction?

Main Asian markets settled blended. European markets had been buying and selling decrease within the first few hours of commerce. US inventory futures had been hinting at a adverse begin for US equities later within the day.

That’s all for now.

Do try ETMarkets.com for all of the information, market evaluation, funding methods and dozens of inventory suggestions. Take pleasure in your night. Bye Bye!