Hi there! You are listening to ETMarkets Evening Podcast
This is Abhinav Kaul and I will take you through the motions of today's session on Dalal Street and bring you cues and trading tips from market veterans for upcoming trading sessions.
After losing to bears for just one day, the bulls on Dalal Street came back with a bang on Thursday marking another record-breaking session with both the benchmark indices hitting new milestones.
While the 30-share index Sensex of BSE breached 35,000 level for the first time, the broader Nifty50 index of National Stock Exchange (NSE) briefly touched 10,800 mark, before settling at 10,789, with 38 constituents in the green and 12 in the red.
Investors got a major boost as the government announced it will bring down its additional borrowing to Rs 20,000 crore, from the earlier announced Rs 50,000 crore.
The move is being seen as a big positive for the government's efforts to adhere to the stated fiscal deficit target of 3.2 per cent for 2017-18.
Private general insurer ICICI Lombard surged to a record of Rs 872, a day after it reported 5.2 per cent jump in its profit for October-December.
Shares of Multi Commodity Exchange of India (MCX) slid as much as 5.8 per cent to Rs 844.25 apiece – lowest since April 21, 2016 after the company's net profit dropped 45 per cent to Rs 18.77 crore for October-December on lower volumes in the bullion segment.
We have Rajnath Yadav, Research Analyst, Fundamental Research Desk, Choice Broking to share his views on equity markets.
Byte 1: Rajnath Yadav
Shares of Zee Entertainment witnessed the biggest spike in open interest contracts at 31.60 per cent, followed by HDIL and GMR Infra.
On the option front, maximum Put open interest is at 10,500 followed by 10,700 and 10,600 strike while maximum Call open interest stood at 11,000 followed by 10,800 strike. Significant Put writing was seen at 10,700 and 10,800 strikes while Call unwinding was seen in 10,650, 10,700, 10,750, 10,800 and 10,900 strikes. Option band signifies a trading band between 10700 to 10900 zones.
Nifty formed a bullish candle on daily charts.
We have with us Mazhar Mohammad from Chartview India to give us some insights on Nifty behaviour on the charts.
Byte 2: Mazhar Mohammad
That's all for now folks. Do check out ETMarkets.com for detailed market analysis and come back for our regular morning podcast on Thursday. Have a wonderful evening ahead.