ETMarkets Evening Podcast: Should you sell as bears take control?
Dear friends! You are here with ETMarkets Evening Podcast.
This is Swati Verma and I will take you through the day's market proceedings, and update you with cues and views on what is likely tomorrow.
The domestic market again witnessed a nervous breakdown. Hardening bond yields, global cues and fears of the government's fiscal slippage, resurgent inflation and LTCG proved to be a deadly cocktail.
The Nifty50 ended 0.87 per cent lower at 10,667. The 30-share BSE Sensex settled 310 points down at 34,757. The Nifty50's smart rebound suggests the bulls were trying hard to make a comeback. Bank and financial stocks bled the most, as the global selloff picked up pace. Among the Nifty constituents, 26 stocks declined and 24 advanced. In the Sensex pack, HDFC took the biggest hit.
The Monetary Policy Committee of the Reserve Bank of India is set to begin their two-day meeting tomorrow and is widely projected to hold rates amid rising concerns over fiscal expansion and its resultant impact on inflation.
Aster DM Healthcare, whose IPO opens on February 12, has fixed the price band at Rs 180-190. The company aims to mobilise Rs 980 crore from the initial share sale.
We have with us Shrikant Chouhan of Kotak Securities to give his views on market fundamentals and technicals. Over to you, Mr Chouhan…
Byte 1: Shrikant Chouhan
In the derivative segment, Ramco Cements shares witnessed the biggest spike in open interest contracts at 25.60 per cent, followed by United Breweries (24.11 per cent) and Colgate (Palmolive) (17.11 per cent).
Ram Chotwani of GEPL Capital gives his insights on the F&O mart.
Byte 2: Ram Chotwani
We also have Rahul Agarwal of Wealth Discovery, who will be sharing his views on the market fundamentals.
Byte 3Rahul Agarwal
That's all for now. Do check out ETMarkets.com for detailed market analysis and come back for our regular morning podcast feed. Have a great evening ahead.