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 upcoming trading sessions.
The equities across the globe once again stumbled after Fed's new chair Jerome Powell revived worries about higher interest rates, in his first testimony on Tuesday. Following global peers, domestic indices too fell prey to the fresh fears and went home with nearly 0.5 per cent cuts.
Financials and pharma counters stood as the major drags for the market which fell for the second straight session on Wednesday.
The 50-share pack Sensex today shed 162 points to settle at 34,184.
IT bellwether Infosys emerged as the star performer on the pack with over 2 per cent gains while FMCG major HUL fell 2 per cent.
The Nifty50 of NSE failed to hold on to the crucial 10,500 level to shut shop at 10,493, down 61 points. 29 components ended in the red while 21 in the green.
Government data on Wednesday reported the country's fiscal deficit at Rs 6.77 lakh crore for the period April 2017-January 2018. Currently, the fiscal deficit is at 113.7 per cent of the target originally set for the fiscal year that ends in March.
IPO of HG Infra Engineering received nearly 5 times subscription till 4:30 pm on Day 3 of the bidding process.
We have Chirag Singhvi of KIFS Trade Capital to share his views on the fundamental side of markets.
Over to you Mr Singhvi
Byte 1: Chirag Singhvi
Nifty made a small bullish candle on the daily chart.
We have with us Ravi Sharma of Prabhudas Lilladher to give us some insights on Nifty behaviour on the charts as well as F&O.
Byte 3: Ravi Sharma
That’s all for now folks. Do check out ETMarkets.com for detailed market analysis and come back for our regular market podcast on Friday morning. Have a wonderful evening ahead.