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ETMarkets Evening Podcast: Bears still in commanding position, what should you do now?


Dear friends! It's great to have you at ETMarkets Evening Podcast.

I am Abhinav Kaul who will get you a synopsis on the day's trading, laced with views, cues and insights from top market analysts.

The market was coasting along through the day, but a sudden spike in the benchmark 10-year yield to 7.66 per cent, a two-year high, threw the bulls off-balance during late trade.

Of late, there is a bit of nervousness in the air because of bubbling oil prices, rise in inflationary pressure and concerns over the government’s fiscal position.

The Nifty50 index settled marginally down at 10,360. The 30-share Sensex too closed lower by 0.21 per cent at 33,704.

IT scrips had a good day after industry body Nasscom said the sector is likely to see good growth in days to come. Metal shares too had an upside. The BSE banking index dropped over lingering worries over the PNB mess.

In the end, 27 rose, 22 fell and 1 remained unchanged on the Nifty map.

We have with us G Chokkalingam, Equinomics Research and Advisory, shares his view on fundamentals.

Byte 1: G Chokkalingam

Wipro recorded the biggest jump in open interest at 36.17 per cent. Ambuja Cements (35.12 per cent) and Glenmark Pharma (32.66 per cent) followed the IT exporter.

Chandan Taparia of Motilal Oswal gives his take on technicals and F&O market.

Byte 2: Chandan Taparia

That's all for now. Do check out ETMarkets.com for detailed market analysis and come back for our regular morning podcast feed. Have a great evening ahead.

Original Article


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