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ETMarkets Evening Podcast: Market extends gains; what next?

by The Editor
June 13, 2018
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You are listening to ETMarkets Evening Podcast.

This is Abhinav Kaul and here is todays market wrap, plus sharp analyses from the voices who matter.

There was no looking back for the bulls today. They made a steady climb, looking forward to more positives from the Trump-Kim summit.

The path-breaking summit is a proof that both the US and North Korean leaders are willing to walk that extra mile, with ramifications for the rest.

After the talks, the US President said the process of denuclearisation on the Korean peninsula will start "very soon".

Global market saw promise, and so did Indian stocks. The Sensex sprinted and hit a high of 35,743. The close came at 35,693 — an over 4-month high — up 209 points.

As for the Nifty, the jump was 56 points at 10,843, but not before scaling 10,857.

The upside could have been more, but traders were cautious as they kept track of IIP and CPI inflation print.

In fact, there was a jump in May inflation at 4.87 per cent, as feared by analysts.

April industrial output grew by 4.9 per cent. The official numbers were out after market hours.

Dr Reddy's tank was full as it surged over 5 per cent. The stock was the winner of the 30-share Sensex pack.

SBI, IndusInd Bank, Hindustan Unilever, Hero MotoCorp and TCS ran up too.

The counters that buzzed were FMCG, pharma, IT, auto and financials.

Options data suggest supports are gradually shifting higher and the immediate trading range for next few sessions is likely to be between 10,750 and 10,950.

Let's talk about fundamentals. We have with us Hitesh Agrawal of Religare Securities. Hitesh, your thoughts?

Byte 1: Hitesh Agrawal

In this market, what can you buy? Pratik Raja of KIFS Trade Capital has more. Hello Pratik, any checklist?

Byte 2: Pratik Raja

What are the signals from the F&O segment? Nirav Chheda of Nirmal Bang Securities can tell us a bit

Byte 3: 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.

Original Article

[contf] [contfnew]

ET Markets

[contfnewc] [contfnewc]

The Editor

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