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

-India to restrict sugar exports to prevent surge in prices
-Delhivery climbs 10% after D-Street debut
-LIC Q4 results on 30th May, board to consider dividend payment
-India’s exports rose 21% to $23.7 billion in May
-eMudhra IPO sails through on final day of bidding

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

Tuesday was a rangebound session for benchmark indices, but quite a negative one for the broader market, as the day saw two of every three stocks ending lower on BSE.

The Sensex fell 236 points but managed to hold the 54,000 level. Nifty50 settled half-a-per cent lower but comfortably above the 16,100 mark. Selling was visible in midcap and smallcap pockets whereas benchmark indices fell up to 1.1 per cent. A total of 77 stocks touched their 52-week lows during the session.

Advance to decline ratio was tilted towards the bears in Sensex as well, with 20 of 30 stocks ending lower, led by Tech Mahindra, Hindustan Unilever, HCL Tech, Asian Paints and NTPC, which fell 2-4 per cent each.

On the other hand, Dr Reddy’s Labs, HDFC, Power Grid and Kotak Mahindra bank added 1-2 per cent. Zomato surged 15 per cent. Steel stocks such as Tata Steel, JSPL and JSW Steel dropped for yet another session.

We have Ajit Mishra of Religare Broking to share his views on the action and the road ahead:

Welcome to the show sir.
1) Earnings season is on its last leg. Which are the sectors that you find comfort in?
2) What would be your advice to investors who are sitting on the sidelines, with cash in hand?

We also caught up with Vaishali Parekh from Prabhudas Lilladher to decode the technical charts for you.
1) Nifty50 has largely been rangebound. What could trigger a breakout of this range?
2) Nifty Bank performed relatively well today. What are charts suggesting?

Key Asian indices settled up to 2.4 per cent lower for the day. Most European markets were trading up to 1 per cent lower in the first few hours of trade. US stock futures for June delivery were also trading 1 per cent lower, signalling a weak start to 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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