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Welcome to ETMarkets Watch, the show about stocks, market trends and money-making ideas. I am Bhaskar Dutta and here are the top headlines at this hour.

-Coal power generation rises 9% in April
-India’s metal makers hunt for fuel abroad
-Ukraine seeks India’s help to grow business
-LIC IPO allotment on May 12, says DIPAM Secy
-Cryptocurrencies may soon attract 28% GST
-April retail inflation likely at 7.5% says poll

Let’s take a quick glance at what happened on Dalal Street today.

After starting off on a positive note, domestic equity markets surrendered all gains and ended lower as concerns over high inflation, interest rate hikes and mixed corporate earnings eroded risk appetite.

Heavy selling pressure in metals and realty counters pulled down headline indices towards the end of trade, marking the third consecutive fall for markets.

The three-day rout has rendered equity investors poorer by a massive Rs 11.4 lakh crore based on the market capitalization of BSE-listed stocks.

The recent sharp depreciation of the rupee, which hit an all-time low of 77.5250/$1 on Monday, has also dented investor confidence by exacerbating overseas outflows and threatening to push up the import bill.

Amid choppy trade, both Nifty and Sensex swung between gains and losses to finally settle in the red, with the 30-share Sensex falling 106 points to 54,365. NSE barometer Nifty, meanwhile, settled below the 16,250 mark.

The Sensex has shed 1,034 points over the last five days of trade while the Nifty50 has given up 438 points.

Broader markets fared much worse than the headline indices, with the BSE Midcap and Smallcap indices losing 2 per cent each. Fear gauge India VIX rose 1.2 per cent to end at 22.30.

18 of the 30 stocks on the Sensex declined, with Tata Steel slumping 7 per cent, followed by Sun Pharma which gave up 3 per cent. NTPC and Titan fell 2 per cent each, while Bajaj Finance and Reliance lost more than 1.5 per cent each.

HUL gained 3 per cent, followed by Asian Paints, IndusInd Bank, Ultra Tech and Maruti, each of which rose 2 per cent.

33 stocks hit 52-week highs, while 141 touched 52-week lows.

We have Ajit Mishra from Religare Broking to share his views on the action and the road ahead. Welcome to the show, sir:
1. Markets surrendered all gains by the end of the day. We have a key event risk in the form of CPI data coming up. What should retail investors’ strategy be?
2. With interest rates set to go up much more, do growth stocks stand to suffer? Are value stocks looking more attractive?

We also caught up with Nilesh Jain of Centrum Broking to decode the technical charts for you.
1. Nifty50 settled below the 16,250 level. What do the technical charts suggest about it?
2. Bank Nifty bucked the trend and ended higher today. What is your outlook on the sector?

Asian markets mostly ended lower for the day. Major European markets were trading with decent gains in the first few hours of trade. Meanwhile, US stock futures were up, signalling a firm start for US equities later in the day.

That’s all for now. Do check out ETMarkets.com for all the news, market analysis, investment strategies and dozens of stock recommendations. Enjoy your evening. Bye Bye!

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