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ETMarkets Evening Podcast (ETMarkets.com)
Will the bears take back control of D-Street?
05:06 Min | October 17, 2019, 6:47 PM IST
Tune in now! Today's rally was led by short-covering, unless fresh longs are built into the system, Nifty might fall, says analyst.
TranscriptHi there! From ETMarkets.com, this is Saloni Goel with Your Evening Briefing.
Let’s start with the top headlines at this hour
> UK, EU reach Brexit deal, select Indian stocks fly
> Govt sources say India may miss deficit target by 30-50 bps
> Hotel Leelaventure goes to Brookfield
> Govt looks to cut stake in NMDC and BHEL
Now a quick look at what happened in the Indian stock market
Benchmark equity indices Sensex and Nifty gained over 1 per cent, taking their winning streak to fifth straight session, buoyed by gains in index heavyweight Reliance Industries (RIL) and banking and financial stocks. Twenty-one of 30 Sensex stocks closed higher. RIL contributed the most to index's gains, with a 1.71 per cent rise. All the sectoral indices on BSE closed higher. Auto and Consumer Discretionary were the top sectoral gainers, rising 2.93 per cent and 1.82 per cent, respectively.
The bulls leaned in favour of the gainers on BSE.
Companies with exposure to the UK market witnessed a jump in share prices. Tata Consultancy Services (TCS), Tata Motors, which owns Jaguar Land Rover, and steel producer Tata Steel all gained between 1 per cent and 10 per cent. YES Bank rallied amid talks of interest in the lender from top business honchos Sunil Bharti Mittal and Sunil Munjal. Mittal later scotched the rumours.
To dig deeper into the market proceedings and how the fundamentals now look like, We have with us Vinod Nair, Geojit Financial Services.
Welcome to the show sir.
Solid gains today. How do you break down the key market drivers?
Banking counters contributed a lot in today's rally. What is your take on the sector? Are you bullish on any of the private sector banks?
We also have Milan Vaishnav, Gemstone Equity Research and Advisory to talk about market technicals and derivatives.
How the market is looking on charts and F&O segment?
Outlook for tomorrow’s session?
That’s all for now, folks. Do check out ETMarkets.com for detailed market analysis and download the ETMarkets app on your phone for round-the-clock market coverage, investment tips and dozens of stock recommendations.
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