ETMarkets Evening Podcast: How will the market behave next week?

Hi there! You are listening to ETMarkets Evening Podcast

This is Abhinav Kaul 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 upcoming trading sessions.

Call it a belated Diwali gift or early Christmas present, the global ratings firm Moody's on Friday had a change of heart as it upgraded India's bond rating to Baa2 from Baa3 and changed the outlook to stable from positive.

The recognition, which according to market experts, was long overdue, fired up domestic market, thus giving the much-needed impetus to the Dalal Street bulls.

Saluting the rating upgrade, BSE Sensex on Friday surged 236 points to settle at 33,343 with drug major Cipla being the top gainer and Infosys, the worst laggard.

Nifty50 index gained 69 points to end the session at 10,284, with 28 out of 50 constituents ending in the green.

Shares of HDFC Standard Life Insurance Company saw a decent market debut on Friday, as the scrip got listed at Rs 311 on BSE, a premium of 7.24 per cent over its issue price of Rs 290.

The stock made sharp advances during the session and eventually closed at Rs 344 apiece on BSE, up 18.71 per cent from its issue price.

Sanjeev Jain of Ashika Stock Broking sums up the day’s market proceeding for you in this exclusive chat with ETMarkets.com.

Byte 1: Sanjeev Jain

Shares of HDIL witnessed the biggest spurt in open interest contracts at 32 per cent, followed by DLF and Mahanagar Gas.

Nirav Chheda of Nirmal Bang Securities gives you a lowdown on the F&O market.

Byte 2: Nirav Chheda

Nifty faced tough resistance around the 10,340 level and eventually ended with a gain of just half-a-per cent.

The index could not close above its opening level. In the process, it formed a small bearish candle on the daily chart.

At close, the Nifty50 stood above its 5-day and 13-day moving averages.

We have with us Dyaneshwar Padwal of KIFS Trade Capital to give us some insights on Nifty behaviour on the charts.

Byte 3: Dyaneshwar Padwal

That’s all for now folks. Do check out ETMarkets.com for detailed market analysis and come back for our special weekly podcast on Saturday and regular morning podcast on Monday. Have a wonderful weekend ahead.