Hi friends! You are listening to ETMarkets Evening Podcast.
I am Abhinav Kaul who will get you today's market wrap along with analytics from some of the sharpest brains.
The much-awaited Karnataka elections scorecard is out.
And it has turned out to be a cliffhanger.
All three key stakeholders — the BJP, Congress and JD (S) — have gone into a huddle, jostling to form next government.
At one point, the bulls had a clear advantage, with the Sensex rallying 400 points.
But euphoria soon gave way to realism after reports that Congress and JD(S) have come together to keep the BJP at bay.
Both benchmarks dropped into the red, unable to digest this suspense.
The Sensex closed marginally down at 35,544 and the Nifty 10,802.
Hardening inflation numbers were another source of worry.
Realty, auto and telecom counters saw investors headed to the exit door.
Tata Motors suffered the most, down over 4 per cent. ITC and RIL too contributed to the overall weakness.
We have Ritesh Ashar of KIFS Trade Capital to talk about fundamentals.
Byte 1: Ritesh Ashar
Indiabulls Housing Finance posted the biggest rise in open interest at 28.99 per cent. Page Industries at 17.78 per cent and Tata Global at 17.43 per cent were next.
Let's listen in to Nirav Chheda of Nirmal Bang Securities for a detailed take on technical & F&O.
Byte 2: Nirav Chheda
Thats all for now folks. Do check out ETMarkets.com for detailed market analysis and come back for our regular market podcast on Wednesday morning. Have a wonderful evening ahead.
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ET Markets
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