ETMarkets Evening Podcast: What changed your financial fortunes all through the day

Hi there! Good Evening. This is Kshitij Anand from ETMarkets.com taking you through the facts and figures from Thursday's session on Dalal Street and bringing you cues and trading tips from market veterans for next week.

Telecom stocks led rally on D-Street with Bharti Airtel and Idea Cellular leading the charge but Nifty50 index witnessed profit booking soon after it hit its fresh 52-week high of 8982.15.

The S&P BSE Sensex saw sharp fall in the last 60-minutes of trade soon after it reclaimed its crucial psychological resistance level of 29,000.

The Nifty50 closed 12 points higher at 8939.50 while the S&P BSE Sensex ended 28 points higher at 28,892. The S&P BSE Midcap index closed 0.19 per cent higher while the S&P BSE Smallcap index rose 0.1 per cent.

Indian market will remain close on Friday, 24 February, on account of Mahashivratri.

Infosys closed 1.7 per cent higher after ET NOW reported that the software major which saw widening differences between its promoters and board on a number of issues, has likely reached a truce on the crucial aspect of capital allocation.

People ET NOW spoke to further said that the promoter group, led by NR Narayana Murthy will not oppose a share buyback when it is announced by the board.

Telecom stocks led the rally on D-Street after Bharti Airtel said that it has entered into a definitive agreement with Telenor South Asia Investments to acquire Telenor India Communications that will give it an access to seven circles including Gujarat, Maharashtra, UP East and UP West.

In the sectoral landscape telecom, IT, realty, consumer durable, and metals stocks saw gains while power, oil & gas, and consumer discretionary stocks saw some profit booking decline.

So, what moved the market today? We have A.K.Prabhakar, Head of Research at IDBI Capital, giving us a lowdown.

Byte 1 AK Prabhakar

On the options front, fresh Put writing was seen at strike prices 8800 and 8900 and fresh Call writing was seen at strike prices 9000 and 9100.

To give us a perspective on what the F&O market is signalling on where the market stands, we have with us Anup Chandak, Sr. Manager, Advisory at Sharekhan. Over to you, Mr. Chandak.

Byte 2 Chandak

On the technical front, Nifty50 closed below its opening level and formed a ‘Doji’ type of candlestick pattern keeping the positive trend intact.

It continued its bullish move for the sixth consecutive session and registered a fresh 52-week high of 8,982. Overall, the immediate trend may remain positive until it doesn’t break its trend line support of 8820.

So does this technical setup signal a cautious undertone in the market? We have Pushkaraj Sham Kanitkar, AVP Technical Research at GEPL Capital, giving us his perspective.

Byte 3 Kanitkar

That's all, for now, folks. Do come back for our pre-market podcast Monday morning. Have a great weekend ahead!