Home Market ETMarkets Morning Podcast: What’s buzzing on D-Street today?

ETMarkets Morning Podcast: What’s buzzing on D-Street today?

235
0
SHARE

Hello and welcome to ETMarkets Morning Podcast!

The bulls continued to party on Dalal Street in Monday's session, and they lifted both Sensex and Nifty to fresh record highs. That, despite a weak GDP forecast and a spike in global crude prices.

Analysts expect the momentum to continue on Tuesday.

We begin on this note, Ladies and gentlemen. This is Saloni Goel, your market jockey with all the news, views and cues you need to know to start your day on Dalal Street.

The Nifty index formed higher tops and higher bottoms for the fourth consecutive session on Monday and formed a small bullish candle. Analysts say the index should now inch towards the 10,680 level in the short term.

Nifty futures on the Singapore Stock Exchange traded higher this morning, indicating a positive start back home.

Asian shares edged higher, approaching record highs after the S&P 500 extended its winning streak. Nikkei is up 0.8 per cent and trades at its highest level since November 1991.

US stocks settled higher in overnight trade. The Dow Jones rose 152 points, the S&P500 11 points and the Nasdaq Composite 12 points.

The rupee retreated from its near three-year high on Monday and ended 14 paise lower at 63.51 against the dollar.

In corporate news, Vedanta submitted the highest bid for bankrupt Electrosteel Steels ahead of a Tata Group bid. Other bidders included the Abhishek Dalmia-promoted Renaissance Group and an overseas fund backed by Edelweiss.

SBI initiated bankruptcy proceedings against Videocon Industries on Monday as the deadline set by the regulator to resolve the Rs 29,000 crore default failed. The NCLT would hear the case on January 24.

SJVN's board approved a buyback proposal comprising 5 per cent stake for over Rs 801 crore.

If you are looking for more stock-specific triggers, there are plenty of them and over a dozen stock recommendations from top brokerages on www.etmarkets.com. If you need them daily, simply download our app on your phone and keep getting them on the go. We now also offer them in many other languages besides English.

Before I go, let's have a look at some of the interesting headlines from ETMarkets print edition.

Top companies raising funds by selling bonds privately may have to pay less in fees, with the capital markets regulator introducing an exchange platform that would allow borrowers to issue such securities in the primary market.

NCLT has struck down an order passed by the bankruptcy court that approved a resolution plan for Kamineni Steel & Power despite the fact that it failed to receive the mandatory 75% vote share, a pre-requite according to the Insolvency and Bankruptcy Code (IBC) to get the plan endorsed by the court.

Nabard, the institution that carries out government's rural development agenda, is working on a roadmap to consolidate regional rural banks (RRBs) to make them financially independent. "We are working on consolidation of RRBs" said chairman Harshkumar Bhanwala. "Some road map is being worked out on the possibility of them accessing market on their own.''

That's it from me for the day. Thank you for listening. Do enjoy your trading day and make loads of money.

But don't forget to log on to www.etmarkets.com for continuous updates on every development in the financial markets. Have a good day!

Original Article

LEAVE A REPLY

Please enter your comment!
Please enter your name here