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 the upcoming trading sessions.
Benchmark equity indices BSE Sensex and NSE Nifty extended their gains on Monday on account of firm global cues.
The BSE Sensex advanced 205.49 points or 0.62 per cent to 33455.79, while NSE Nifty index gained 56.60 points, or 0.55 per cent, at 10,322.25.
Optimistic buying in blue-chip stocks ahead of release of IIP data and retail inflation data later this week also drove stocks higher.
Shares of Maruti Suzuki India scaled a fresh all-time after Morgan Stanley raised the target price to Rs 10,563 from Rs 9,102 earlier. The global financial services firm believes that the stock can touch Rs 14,400 in the bull case.
Paper stocks were on fire amid reports the valuations of the companies may improve given the growth opportunity in the wake of rising paper prices due to shutdown of capacities in China.
Share of Star Paper Mills hit upper circuit limit of 20 per cent, while those of Malu Paper Mills soared 11 per cent on BSE. Shares of West Coast Paper Mills and Seshasayee Paper gained 6 per cent and 7 per cent, respectively.
Shares of airline company Jet Airways rallied over 4 per cent after the brokerage firm Edelweiss upgraded the stock to 'BUY' from 'HOLD'.
Mayuresh Joshi from Angel Broking sums up the day’s market proceeding for you in this exclusive chat with ETMarkets.com.
Byte 1: Mayuresh Joshi
Shares of Wockhardt Pharma witnessed the biggest spike in open interest contracts at 33.27 per cent, followed by Arvind and NBCC.
Nifty50 rose for the third straight session on Monday and made a higher-top higher bottom formation on the daily chart for the same period. The index made a small bullish candle on the daily chart.
We have with us Nirav Chheda from Nirmal Bang Securities to give us some insights on Nifty behaviour on the charts as well as F&O segment.
Byte 2: Nirav Chheda
That’s all for now folks. Do check out ETMarkets.com for detailed market analysis and come back for our regular morning podcast on Tuesday. Have a wonderful evening ahead.
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The post ETMarkets Evening Podcast: Trading tips from top Dalal Street experts appeared first on News Wire Now.
