Markets

ETMarkets Evening Podcast: Will the bulls take back control now?

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.

Monday turned out to be an action-packed day for investors on Dalal Street.

After plunging over 2 per cent in opening trade, when vote count trend showed a lead for the Congress in Gujarat, the benchmark indices swung into the green as the trend swung in favour of the BJP.

BSE Sensex on Monday witnessed a 1,200-point swing during the session before closing 139 points higher at 33,601.68 with Mahindra & Mahindra being the top gainer and YES Bank the worst laggard.

On similar lines, Nifty50 too made a sharp recovery and climbed above the 10,400 mark during the day. However, it slipped below the crucial level to settle at 10,389, up 56 points with 35 constituents ending in the green and 14 in the red.

Shares of Future Supply Chain Solutions made a decent debut, as the scrip got listed at Rs 674 on BSE, up 1.5 per cent over its issue price of Rs 664.

The scrip settled at Rs 685.80 on BSE, up 3.28 per cent over its issue price.

IPO by Astron Paper got subscribed by 5.11 times on the second day of the bidding process today.

Mayuresh Joshi of Angel Broking sums up the day’s market proceeding for you in this exclusive chat with ETMarkets.com.

Byte 1: Mayuresh Joshi

Shares of DCB Bank witnessed the biggest spike in open interest at 37.42 per cent, followed by Page Industries and Sun TV Network.

Nifty50 on Monday swung in a wide 370-odd point range to eventually form a 'High Wave' candle pattern on the daily chart, suggesting doubts and confusion among market participants.

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 Tuesday. Have a wonderful evening ahead.

Original Article

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