ETMarkets Evening Podcast: Will market keep its winning momentum?
Hi there! You are listening to ETMarkets Evening Podcast
This is Lakshay Narang 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 next trading session.
Benchmark NSE Nifty index snapped its six-day losing streak on Thursday as traders rolled over positions in the futures & options segment from the near month June series to July series.
However, the Nifty index closed with marginal gains of 13 points at 9,504, while BSE Sensex settled 23 points up at 30,857. Indices pared their initial gains tracking weakness in European stocks after seeing decent initial gains on firm Asian stocks.
Meanwhile, shares of InterGlobe Aviation, owner of IndiGo, plunged nearly 3 per cent intraday after the company has expressed an unsolicited interest in buying a stake in state-owned carrier Air India.
Largecap majors such as Axis Bank, Tata Steel, Bharti Airtel and Cipla advanced up to 4 per cent on Thursday.
Among sectoral indices, BSE Metal gained over 2 per cent with 9 out of 10 stocks ending the day in green. It was followed by Telecom and Realty index.
Rahul Shah of Motilal Oswal sums up the day’s market proceeding for you in this exclusive chat with ETMarkets.com.
Byte 1: Rahul Shah
Stock futures of Container Corporation saw the biggest jump in open interest. It was followed by Kajaria Ceramics, Havells and Zee Entertainment.
On the option front, maximum Put open interest for the July series stood at 9400 followed by 9500 strike while maximum Call open interest was seen at 9700 followed by 9800 strike.
Vijay Singhania of Trade Smart Online gives you a lowdown on the F&O market.
Byte 2: Vijay Singhania
Nifty index formed an Inverted Hammer on the daily chart as it failed to hold its gains and corrected sharply towards 9500.
We have with us Vaishali Parekh of Prabhudas Lilladher to give us some insights on Nifty behaviour on the charts.
Byte 3: Vaishali Parekh
That’s all for now. Do check out www.ETMarkets.com for detailed market analysis and for trading ideas and come back for our pre-market podcast on Thursday morning. Have a great evening ahead.
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Via:: Economic Times – Stocks