Hi there! From ETMarkets.com, this is Abhinav Kaul with Your Evening Briefing.
LET’S START WITH THE TOP HEADLINES AT THIS HOUR
>> It was a terrible Thursday for Indian stock market as benchmark indices fell nearly 2 per cent on global sell-off
>> Fitch Ratings slashed India's GDP growth forecast to 7.2 per cent for current fiscal, from 7.8 per cent projected in September
>>Brent oil prices sank under $60 after Saudi Arabia made remarks that were deemed overly cautious by analysts ahead of Opec’s latest output decision
>>Global stock markets slumped as the arrest of a top executive of Chinese tech giant Huawei fed fears of fresh geopolitical tensions
Now, a quick glance at what happened in the market
Investors on Dalal Street avoided fresh bets and sold across sectors to avoid further casualties ahead of state election results.
Taking a hit of 572 points, the BSE Sensex shut shop at 35,312, with Sun Pharma as the lone gainer.
The NSE benchmark Nifty lost 182 points to close at 10,601.
BSE Midcap and Smallcap indices fell in sync with Sensex, closing 1.54 per cent and 1.36 per cent down, respectively.
In stock specific action, the energy pack finished the day as the top sectoral loser on the BSE, falling 2.35 per cent.
As many as 220 stocks, including Tata Motors, SAIL, NMDC, Amara Raja Batteries and Ashok Leyland hit 52-week lows on the BSE.
Here's Rahul Shah of Motilal Oswal Financial Services who speaks on market fundamentals in this exclusive chat with ETMarkets.com
The Nifty50 formed a strong bearish candle on the daily chart as it slipped below the 200-DMA in a bearish sign.
We have with us Milan Vaishnav of Gemstone Equity Research and Advisory to explain market technicals in detail.
On the options front, maximum Put open interest (OI) was seen 10,000 followed by 10,200 strikes, while maximum Call OI was at 11,000 followed by 10,900 strike.
Ram Chotwani of GEPL Capital gives his insights on the F&O mart.
We will bring back Milan Vaishnav of Gemstone Equity Research to explain the trade setup for the upcoming sessions.
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. Have a pleasant evening.