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ETMarkets Evening Podcast (ETMarkets.com)
Why D-Street ignored dismal GDP data
05:45 Min | December 02, 2019, 8:17 PM IST
Tune in: Among the Sensex pack, 19 out of 30 stocks closed lower.
TranscriptHi there! From ETMarkets.com, this is Abhinav Kaul with Your Evening Briefing.
LET’S START WITH THE TOP HEADLINES AT THIS HOUR
>> NCLT Mumbai admits DHFL for bankruptcy proceedings
>> Crisil slashes FY20 growth forecast to 5.1 per cent
>> 90% investors get back their securities in Karvy case
>> Altico Capital defaults on Rs 138 crore debt repayment
>> Ujjivan SFB IPO gets fully subscribed on Day 1
>> Saudi Arabia wants Opec+ to deepen oil cuts
Now, a quick glance at what happened in the stock market.
Sensex closed 8 points higher at 40,802, while Nifty closed 8 points lower at 12,048.
BSE Midcap and Smallcap indices sharply underperformed Sensex, and closed 0.77 per cent and 0.39 per cent lower, respectively.
BSE Auto index was the top loser with a 0.92 per cent decline, on dismal vehicle sales data for November.
Among the Sensex pack, 19 out of 30 stocks closed lower.
YES Bank’s $2 billion fundraising plan failed to lift shares as it plunged 6.22 per cent. Analysts said Dalal Street has reservations about the quality of the investors.
ETMarkets.com caught up with Saravana Kumar, CIO at Essel Mutual Fund to get the lowdown on market fundamentals.
Mr Kumar why did the market ignore dismal GDP print?
A section of the market believes that midcaps are attractively valued. But should one consider them, given the weakness in the economy?
Nifty fell from the word go on Monday but settled the day a tad below 12,050, forming a ‘Bearish Engulfing’ candle on the daily chart.
We have with us Nirav Chheda of Nirmal Bang Securities to talk about market technicals and derivatives.
Nirav, how is the technical and derivatives setup looking after today’s trade?
What is the trend that you are seeing at the beginning of December F&O series?
That’s all for now, folks. Do check out ETMarkets.com for detailed market analysis and download the ETMarkets app on your phone for round-the-clock market coverage, investment tips and dozens of stock recommendations.
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