ETMarkets Morning Podcast: What's buzzing on D-Street this morning
Hi there! Good Morning. This is Kshitij Anand from ETMarkets.com with our regular morning Podcast of all the news, views, and cues that could sway your market through the day.
With no big earnings release scheduled for the day, stock-specific news is likely to move select stocks through the day. Global markets will be watched keenly amid rising chances of a Fed rate hike in March.
Asian markets across Japan, Korea and Australia were trading mixed in early morning trade. US stocks, on the other hand rose for the seventh straight session in overnight trade.
The Nifty50 futures on the Singapore Stock Exchange were trading 12.50 points higher at 8,766.50, indicating a positive opening for the domestic market.
The domestic currency on Wednesday advanced for the second straight day. It gained 3 paise to settle at 66.90 per dollar on sustained dollar selling by banks and exporters despite higher greenback overseas.
Improved demand from the United States, the European Union and Japan helped increase India's exports for the fifth month in a row in January.
Exports went up 4.3 per cent in January from a year ago to $22.1 billion, data released by the commerce and industry ministry on Wednesday showed.
On the technical front, the Nifty50 failed to hold above its crucial psychological level of 8,800 on Wednesday and formed a long bearish candle on the daily candlestick chart.
A break below 8,720 this week can put further pressure on the bulls, which could take the index towards 8,650 and 8,620 levels, experts said.
On the options front, fresh Call writing at strike prices 8,700-9,100 is likely to make the journey difficult for the bulls, options data showed.
Put unwinding at strike prices 8,600-8,900 and subsequent Call writing at 8,700-9,100 might trouble the bulls. The first hurdle for Nifty50 is placed at strike price 8,800 which now holds the second highest concentration of Call open interest (OI).
Lastly, a quick look at some of the interesting headlines from the print edition of ETMarket.
India may cut the amount of capital it plans to inject into state controlled lenders this financial year by as much as Rs 7,800 crore ($1.2 billion) because of slow loan growth, a report suggested.
Rich investors are rushing to buy tax-free bonds in the wake of the rise in yields after the Reserve Bank of India's rate-setting meeting last week.
Midand small-cap shares led the sell-off on Dalal Street on Wednesday after US Federal Reserve chief Janet Yellen's averred last night that rate increases are on track.
We would leave you with that much for now.
Do log on to www.etmarkets.com through the day for continuous updates on every development in the financial markets.
Have a good trading day ahead!
With no big earnings release scheduled for the day, stock-specific news is likely to move select stocks through the day. Global markets will be watched keenly amid rising chances of a Fed rate hike in March.
Asian markets across Japan, Korea and Australia were trading mixed in early morning trade. US stocks, on the other hand rose for the seventh straight session in overnight trade.
The Nifty50 futures on the Singapore Stock Exchange were trading 12.50 points higher at 8,766.50, indicating a positive opening for the domestic market.
The domestic currency on Wednesday advanced for the second straight day. It gained 3 paise to settle at 66.90 per dollar on sustained dollar selling by banks and exporters despite higher greenback overseas.
Improved demand from the United States, the European Union and Japan helped increase India's exports for the fifth month in a row in January.
Exports went up 4.3 per cent in January from a year ago to $22.1 billion, data released by the commerce and industry ministry on Wednesday showed.
On the technical front, the Nifty50 failed to hold above its crucial psychological level of 8,800 on Wednesday and formed a long bearish candle on the daily candlestick chart.
A break below 8,720 this week can put further pressure on the bulls, which could take the index towards 8,650 and 8,620 levels, experts said.
On the options front, fresh Call writing at strike prices 8,700-9,100 is likely to make the journey difficult for the bulls, options data showed.
Put unwinding at strike prices 8,600-8,900 and subsequent Call writing at 8,700-9,100 might trouble the bulls. The first hurdle for Nifty50 is placed at strike price 8,800 which now holds the second highest concentration of Call open interest (OI).
Lastly, a quick look at some of the interesting headlines from the print edition of ETMarket.
India may cut the amount of capital it plans to inject into state controlled lenders this financial year by as much as Rs 7,800 crore ($1.2 billion) because of slow loan growth, a report suggested.
Rich investors are rushing to buy tax-free bonds in the wake of the rise in yields after the Reserve Bank of India's rate-setting meeting last week.
Midand small-cap shares led the sell-off on Dalal Street on Wednesday after US Federal Reserve chief Janet Yellen's averred last night that rate increases are on track.
We would leave you with that much for now.
Do log on to www.etmarkets.com through the day for continuous updates on every development in the financial markets.
Have a good trading day ahead!
