ETMarkets Evening Podcast: How will markets react to major global events?

Hi there! You are listening to ETMarkets Evening Podcast

This is Saloni Goel 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 Friday’s session.

The domestic equity market ended on a negative note on Thursday ahead of major global events including former FBI director James Comey’s congressional appearance, ECB’s policy review and UK elections.

The S&P BSE Sensex shed 58 points to end the session at 31,213, with TCS, GAIL and Hero MotoCorp being the top losers.

Anand James, Chief Market Strategist of Geojit Financial Services said the markets looked to have retracted into a shell after the RBI policy decision.

Investors will now look forward to emerging confidence among industry participants as GST rollout approaches, James added.

Here we have Omkar Tanksale of GEPL Capital, who sums up the day's market proceeding for you in this exclusive chat with ETMarkets.com.

On the technical side, the Nifty50 chart structure remains unchanged.

For the coming session, the immediate support for the index is seen around 9,620-9,580 levels.

In a note Angel Broking said, it would be a prudent strategy to keep focusing on individual stocks and staying light in the market once Nifty approaches mentioned resistance zone.

We have with us Sacchitanand Uttekar of Tradebulls Securities to give us some insights on Nifty behavior.

On the derivatives front, higher open interest activity was seen at 9,700. That continues to validate upward resistance.

Anup Chandak of Sharekhan gives you a lowdown on the F&O market.

That’s all for now folks. Do come back for our pre-market podcast on Friday morning. Have a great evening ahead.