ETMarkets Evening Podcast: Financial market updates you need to have before the day ends
Hi there! Good Evening. This is Kshitij Anand from ETMarkets.com taking you through the facts and figures from Thursday's session on Dalal Street and bringing you cues and trading tips from market veterans for tomorrow's trade.
Markets ended with marginal gains but the way benchmark indices bounced back in the last 30-minutes of trade indicate that the rally is not over yet. The bulls regained momentum and are not letting bears take the lead.
The S&P BSE Sensex closed 39 points higher at 28,329 while the Nifty50 index ended 9.3 points up at 8778. However, the rally was more prominent in broader markets.
The S&P BSE Sensex closed 0.19 per cent higher at 13,582 while the S&P BSE Midcap index ended 0.23 per cent up at 13,506.
On the earnings front, Lupin reported a 20.51 per cent year-on-year (YoY) rise in consolidated net profit to Rs 633 crore for the quarter ended December 31, largely meeting the Rs 630 crore profit anticipated by analysts polled in an ET Now survey.
Public sector banks will be in focus on Friday ahead of December quarter results of State Bank of India, and Bank of Baroda.
In the sectoral landscape IT, telecom, consumer durable, realty stocks saw some gain while metals, banks, capital goods, and healthcare stocks saw some profit booking decline.
On the derivatives front, maximum Call writing was seen in strike price 8,800 followed by 9,000 while maximum Put writing was seen in strike prices 8,700, followed by 8,600.
There was huge Call unwinding seen at strike price 8,900 and 8,950 and this has happened along with good amount of additions in Put OI which signals a bullish bias.
To give us a perspective on what the F&O market is signalling on where the market stands, we have with us Anup Chandak, Sr. Manager, Advisory at Sharekhan. Over to you, Mr. Chandak.
Byte 1 Chandak
On the technical front, Nifty50 closed below its opening level of 8,795 but above its 5-days SMA placed at 8,771. The index formed a 'spinning top' kind of pattern on the charts.
A spinning top pattern is formed on the charts when the real body of the candle is small despite a wide range of price movement throughout the trading day.
However, weakness in Nifty50 shall be confirmed on a close below 8,771 levels which may initially drag down the indices towards 8,665 level below which short term down trend shall emerge.
So, does this technical setup signal a cautious undertone in the market? Sacchitanand Uttekar, Sr. Manager, Analyst-Technical at Motilal Oswal Securities Limited, explains.
Byte 2 Sacchitanand
That's all for now. Do come back for our pre-market podcast tomorrow morning. Have a great evening ahead!
Markets ended with marginal gains but the way benchmark indices bounced back in the last 30-minutes of trade indicate that the rally is not over yet. The bulls regained momentum and are not letting bears take the lead.
The S&P BSE Sensex closed 39 points higher at 28,329 while the Nifty50 index ended 9.3 points up at 8778. However, the rally was more prominent in broader markets.
The S&P BSE Sensex closed 0.19 per cent higher at 13,582 while the S&P BSE Midcap index ended 0.23 per cent up at 13,506.
On the earnings front, Lupin reported a 20.51 per cent year-on-year (YoY) rise in consolidated net profit to Rs 633 crore for the quarter ended December 31, largely meeting the Rs 630 crore profit anticipated by analysts polled in an ET Now survey.
Public sector banks will be in focus on Friday ahead of December quarter results of State Bank of India, and Bank of Baroda.
In the sectoral landscape IT, telecom, consumer durable, realty stocks saw some gain while metals, banks, capital goods, and healthcare stocks saw some profit booking decline.
On the derivatives front, maximum Call writing was seen in strike price 8,800 followed by 9,000 while maximum Put writing was seen in strike prices 8,700, followed by 8,600.
There was huge Call unwinding seen at strike price 8,900 and 8,950 and this has happened along with good amount of additions in Put OI which signals a bullish bias.
To give us a perspective on what the F&O market is signalling on where the market stands, we have with us Anup Chandak, Sr. Manager, Advisory at Sharekhan. Over to you, Mr. Chandak.
Byte 1 Chandak
On the technical front, Nifty50 closed below its opening level of 8,795 but above its 5-days SMA placed at 8,771. The index formed a 'spinning top' kind of pattern on the charts.
A spinning top pattern is formed on the charts when the real body of the candle is small despite a wide range of price movement throughout the trading day.
However, weakness in Nifty50 shall be confirmed on a close below 8,771 levels which may initially drag down the indices towards 8,665 level below which short term down trend shall emerge.
So, does this technical setup signal a cautious undertone in the market? Sacchitanand Uttekar, Sr. Manager, Analyst-Technical at Motilal Oswal Securities Limited, explains.
Byte 2 Sacchitanand
That's all for now. Do come back for our pre-market podcast tomorrow morning. Have a great evening ahead!
