ETMarkets Evening Podcast: Is Dalal Street heading for a big correction?

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 the upcoming trading sessions.

The Nifty50 index slipped for a third straight day on Wednesday led by selling in select telecom, metal and auto counters.

The 50-share Nifty settled 47 points down at 10,303, while the 30-share Sensex closed nearly 152 points down at 33,218. Sensex was down second straight day.

The IPO of HDFC Standard Life Insurance Company got fully subscribed on the second day of the bidding process today.

Bharti Airtel declined over 3 per cent post multiple block deals in early trade.

According to reports, Qatar-based Three Pillars PTE offloaded its entire holding in Bharti Airtel through multiple block deals.

Axis Bank advanced over 3 per cent after the lender informed bourses that its board will meet on Friday to consider raising of funds.

Rahul Shah of Motilal Oswal sums up the day’s market proceeding for you in this exclusive chat with ETMarkets.com.

Byte 1: Rahul Shah

Shares of Bharti Airtel witnessed the biggest spike in open interest at 57.95 per cent, followed by Oriental Bank, Arvind and Tata Motors.

Vijay Singhania of Trade Smart Online gives you a lowdown on the F&O market.

Byte 2: Vijay Singhania

Nifty index formed a small bearish candle on the daily charts.

We have with us Dyaneshwar Padwal of KIFS Trade Capital to give us some insights on Nifty50 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 morning podcast on Thursday. Have a wonderful evening ahead.