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ETMarkets Evening Podcast: Market extends fall; what next?

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Hi friends! You are listening to ETMarkets Evening Podcast.

This is Abhinav Kaul and I will get you today's market wrap along with cutting-edge analytics from some of the sharpest brains.

No prizes for guessing why the market today behaved the way it behaved.

The usual suspects were: Falling rupee, the 'ugly' inflation and spiralling US bond yields.

As if these were not enough, the Karnataka thriller is playing out in full force as the BJP fell short of the crease.

Earnings from bluechips such as ITC and Hindalco turned out to be mixed and investors seemed unimpressed.

The bottomline is fear is in the air and the market hates uncertainty. The market did manage to cover up, but in the end it was just not enough.

The BSE Sensex fell 156 points, or 0.44 per cent, to settle at 35,388. The Nifty's final reading was 10,741, down half a per cent.

ICICI Bank, RIL, SBI and Hero MotoCorp took sharp blows.

Looks like there is no end to pain for public lender Punjab National Bank. The stock tanked over 12 per cent as it reported a massive loss for the March quarter.

We have G Chokkalingam of Equinomics Research and Advisory to talk about fundamentals.

Byte 1: G Chokkalingam

TVS Motor Company took the top slot with the biggest increase in open interest at 51.41 per cent. PNB (37.67 per cent) came second and Muthoot Finance (29.70 per cent) third.

Let's listen in to Mazhar Mohammad of Chartview India for a detailed take on technicals.

Byte 2: Mazhar Mohammad

In the Nifty bloc, 33 lost the game, but 17 held up.

Over to Vijay Singhania of Trade Smart Online for his take on F&O market.

Byte 3: Vijay Singhania

Thats all for now folks. Do check out ETMarkets.com for detailed market analysis and come back for our regular market podcast. Have a wonderful evening ahead.

Original Article

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