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

Hi there! You are listening to ETMarkets Evening Podcast

This is Swati Verma 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.

Domestic equity markets ended the session in red on Tuesday as market participants took some cash off the table after BSE Sensex and NSE Nifty hit fresh record high in the previous session.

The 30-share Sensex closed 53 points down at 33,213, while the 50-share Nifty index settled 28 points down at 10,335.

Axis Bank, Bharti Infratel, ONGC, HCL Tech and HDFC stood among top gainers in the Nifty index, while UPL, Hindalco, Vedanta, Tata Steel and State Bank of India slipped between 2 per cent to 3 per cent.

Shares of Anil Ambani-led Reliance Communications climbed nearly 10 per cent on Tuesday after the company agreed a new debt repayment plan with lenders, including a pledge to raise up to Rs 17,000 crore by selling assets such as mobile towers.

G Chokkalingam of Equinomics Research and Advisory sums up the day’s market proceeding for you in this exclusive chat with ETMarkets.com.

Byte 1: G Chokkalingam

Shares of BEL witnessed the biggest spike in open interest contracts at 56.42 per cent, followed by NIIT Tech, Power Grid, Godrej Consumer and Capital First.

Nifty formed a small Bearish candle on the daily chart. The index has also negated the formation of higher highs-higher lows of last five trading sessions.

Chandan Taparia of Motilal Oswal Financial Services gives you a lowdown on the Nifty behaviour of charts as well as F&O market.

Byte 2: Chandan Taparia

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 Wednesday. Have a wonderful evening ahead.