ETMarkets Evening Podcast: Market consolidates; what’s your next move?

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 Thursday.

Heavy rains in Mumbai added to the general depression on Dalal Street. The benchmark indices traded in a tight range on before eventually closing the session flat today.

What made investors really cautious was tonight’s outcome of the US Federal Reserve's policy decision.

Wednesday‘s performance of the domestic market was largely in line with muted trading across other Asian markets.

At close, the BSE Sensex was down 1.86 points at 32,400. Nifty50 fell 6.40 points to settle at 10,141.

As many as 31 stocks in Nifty closed in red with BPCL falling 2.45 per cent, followed by Hero MotoCorp, Tata Motors and Ambuja Cements.

On the other hand, Dr Reddy’s Labs, Bank of Baroda, Tata Steel, ITC and ONGC gained up to 3.72 per cent.

Shares of tyre companies surged up to 7 per cent after the government imposed anti-dumping duty on import of certain type of radial tyres used in buses and trucks.

Tata Steel said it has signed an agreement with German steel giant Thyssenkrup to merge their steel operations in Europe in a 50:50 joint venture company.

Rahul Shah of Motilal Oswal Financial Services in an exclusive chat with ETMarkets.com explains which sectors are looking robust.
Byte 1: Rahul Shah

Shares of Karnataka Bank witnessed the biggest spike in open interest contracts at 22 per cent, followed by Kajaria Ceramics, India Cements and South Indian Bank.

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

Byte 2: Vijay Singhania

Nifty traded in the range of nearly 40 points and has been consolidating in between 10,130 to 10,178 range from last three trading sessions.

We have with us Vaishali Parekh, Head-Technical Desk, Prabhudas Lilladher to give us some insights on Nifty behaviour on the charts.

Byte 3: Vaishali Parekh

That’s all for now folks. Do check out ETMarkets.com for detailed market analysis and for trading ideas and come back for our morning podcast on Thursday. Have a wonderful evening ahead.