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ETMarkets Evening Podcast: Market falls. What’s your next step?

Hi there! You are listening to ETMarkets Evening Podcast

This is Prachi Sharma 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.

Investors on Dalal Street developed cold feet on Tuesday ahead of key macroeconomic numbers and Fed policy outcome which dragged benchmark indices lower from Monday's highs.

The IIP data for October and CPI-based inflation numbers for November are due later in the day while Fed will announce its monetary policy on Wednesday, where it is almost certain it will hike interest rates for the third time this year.

The BSE Sensex on Tuesday tumbled 228 points to settle at 33,228 with Dr Reddy's (up nearly 3 per cent) being the top gainer and Coal India (down nearly 3 per cent), the worst laggard.

Shares of Repro India plunged nearly 9 per cent after the company reported a 76 per cent year-on-year fall in net profit at Rs 4.15 crore for the quarter ended September 30, 2017 against Rs 17.45 crore in the corresponding quarter last year.

AK Prabhakar from IDBI Capital Markets sums up the day’s market proceeding for you in this exclusive chat with ETMarkets.com.

Byte 1: AK Prabhakar

Shares of Oil India witnessed the biggest spike in open interest contracts at 19.72 per cent, followed by Havells India and Infratel.

The broader Nifty50 index of National Stock Exchange (NSE) dropped 82 points to close at 10,240, with 38 out of 50 components ending in the red.

The index formed a bearish engulfing pattern on daily charts.

We have with us Chandan Taparia from Motilal Oswal Financial Services to give us some insights on Nifty behaviour on the charts as well as F&O segment.

Byte 2: Chandan Taparia

That’s all for now folks. Do check out ETMarkets.com for detailed market analysis and come back for our regular morning podcast on Wednesday. Have a wonderful evening ahead.

Original Article

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