The Economic Times daily newspaper is available online now.

    ETMarkets Morning Podcast: All the news, views and cues for today's session

    Synopsis

    The signals from Singapore are strong, with Nifty50 futures trading with solid gains to indicate a positive start for the domestic market.

    ETMarkets.com
    Good Morning, dear ETMarkets reader!

    After a 250-point pullback from its low point hit earlier this fortnight, the Nifty50 appears to be taking a breather and consolidating, as every rise is getting sold into. Everyone is watching when the index crosses past the 9,944 level, where the 50-day moving average stands.

    Meanwhile, Finance Minister Arun Jaitley’s crucial meeting with the Prime Minister and BJP President on Thursday evening has left everyone speculating about the possibility of a major economic announcement.

    We start the last day of the week with that suspense.

    This is Saloni Goel, your market jockey, with your breakfast briefing to ready you for the day on Dalal Street with all the news, views and cues.

    The signals from Singapore are strong, with Nifty50 futures trading with solid gains to indicate a positive start for the domestic market.

    On Thursday, the Nifty50 could not defend the 9,900 level on a closing basis and made a small bearish pattern on the daily chart. But it continued to make higher highs and higher lows, suggesting that supports are shifting higher.

    Early this morning, Asian stocks rose after optimism over US tax reform plans lifted Wall Street shares to new highs, while the dollar hovered near a seven-week peak following additional indications of solid economic growth.

    All three major Wall Street indices rose to record high in overnight trade as the US Congress moved closer to an agreement on budget resolution. The Dow and S&P500 rose half a per cent each, while the Nasdaq Composite added 50 points.

    The worry is crude prices are rising again. Oil prices rose about 2 per cent on Thursday amid signs that Saudi Arabia and Russia would limit production through next year, which pushed the US benchmark back above the $50 a barrel level.

    Global investment bank HSBC on Thursday maintained its underweight call on the Indian equity market, citing high valuations, earnings downgrades, softening growth and rising fiscal constraints.

    After a brief overnight recovery, the rupee once again turned shaky on Thursday and ended 13 paise lower at 65.14 on fresh bouts of dollar demand from importers. The domestic currency came under pressure due to extremely bullish dollar sentiment overseas.

    Meanwhile, a Sebi panel’s recommendation for sweeping changes in corporate governance norms has left the market weighing the pros and cons.

    In the IPO mart, Godrej Agrovet issue is closing for subscription today and going by the strong response on the first two days, one can expect some rush on the last day.

    MAS Financial Services hits the market today. The company raised about Rs136 crore from
    15 anchor investors by selling 29.61 lakh equity shares at Rs 459 apiece.

    Among stock specific triggers , watch the aviation stocks after IATA data showed India's domestic passenger traffic rose 16 per cent in August from the corresponding month previous year.

    Export-oriented stocks could see some action amid speculation that the GST Council could announce measured for these sectors later on Friday.

    And if you are looking for more stock-specific triggers, there are plenty of them and over a dozen stock recommendations from top brokerages on www.etmarkets.com. If you need them daily, simply download our app on your phone and keep getting them on the go. We now also offer them in many other languages besides English.

    Before I go, let’s have a look at some of the interesting headlines from ETMarkets print edition.

    A day after RBI released the recommendation of a panel on a new loan pricing mechanism, bankers said the views are not practical enough as lending rates need to factor in credit costs, which vary with loans and banks .

    Shriram Group and IDFC Group have extended their confidentiality, exclusivity and standstill agreement by a month to evaluate a possible merger

    GIC Re will raise Rs 11,370 crore by selling 14.22% through an initial public offering, which will be sold through October 11-13 and listed on October 25. The company has set a price range of Rs 855-912 a share

    That’s it from me for the day. Thank you for listening in. Do enjoy your trading day and make loads of money.

    But don’t forget to log on to www.etmarkets.com for continuous updates on every development in the financial markets. Have a good day!



    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

    Stories you might be interested in