ETMarkets Morning Podcast: What's buzzing on Dalal Street this morning?

While volatility ruled Monday’s session on Dalal Street with clear signs that the overbought nature of the market is keeping the index in consolidation mode; Wall Street and Asian markets are at decadal highs. Will that nudge our bulls to turn the tide and take the Nifty50 higher? Well, we will know in a while.

This is Saloni Goel, your market jockey, ladies and gentlemen, with the breakfast briefing to ready you for the day on Dalal Street.

Nifty50 futures on the Singapore Stock Exchange were trading slightly higher this morning, giving positive vibes for the day ahead in Mumbai trading.

Asian shares touched their highest in a decade on Tuesday, as oil prices edged down after surging to a more than two-year peak as Saudi Arabia’s crown prince cracked down on corruption.

US stocks climbed to record highs in overnight trade as investors betted that the Republican plan to cut corporate taxes would bolster earnings. The Dow closed at 23,548, the S&P500 at 2,591.

Crude oil prices edged lower this morning after posting the biggest gains in six weeks on Monday. WTI crude slipped 13 cents to trade at $57.22 a barrel.

The rupee closed weaker against the US dollar at 64.68 on Monday even as bond yields hit a six-month high.

The mega IPO of HDFC Standard Life Insurance opens today. The insurer raised Rs 2,322 crore from anchor investors, including Singapore’s sovereign wealth fund Temasek, Norwegian fund Norges, Kuwait Investment, T Rowe Price, Fidelity, Blackrock and JP Morgan.

Khadim India's Rs 543 crore issue sailed through on Monday with 1.89 times subscription.
In other news, India’s tax authorities have launched a multi-agency probe into some of the offshore accounts revealed in the Paradise Papers global expose on investments that individuals and business houses have made in, and routed through, tax havens.

In stock-specific news, Anil Ambani's Reliance Communications said it isn’t paying a dollar bond coupon. The interest payment of about $9.75 million for the $300 million 6.50 per cent notes maturing November 2020 was due on Monday.

In Q2 earnings, BHEL, Cipla, Indian Overseas Bank, Jindal SAW, Balrampur Chini, Manappuram Finance, Jyothy Labs, Finolex Cables, Tata Coffee and VIP Industries will release their numbers during the day.

If you are looking for more stock-specific triggers, there are plenty of them and over a dozen stock recommendations from top brokerages on www.etmarkets.com. If you need them daily, simply download our app on your phone and keep getting them on the go. We now also offer them in many other languages besides English.

Before I go, let’s have a look at some of the interesting headlines from ETMarkets print edition.

Individual investors have largely stayed away from share sales by domestic insurers, some of which have listed on a weak note on the stock exchanges due to low appetite for these stocks at current valuations.

Mutual funds continued to attract flows from investors with assets under management of the industry rising by Rs 51,148 crore in October to touch a new high of Rs 21.41 lakh crore. For the first seven months of this financial year, cumulative inflows into these funds have tripled to Rs 1.51 lakh crore

Domestic lenders are saying they will not entertain wilful defaulters or those who have not received a clean chit from the forensic auditor to participate in the bidding process of distressed companies
That’s it from me for the day. Thank you for listening in. Do enjoy your trading day and make loads of money.

But don’t forget to log on to www.etmarkets.com for continuous updates on every development in the financial markets. Have a good day!