Welcome to ETMarkets Watch, the show about stocks, market trends and money-making ideas. I am Atul P.M. and here are the top headlines at this hour.

Govt announces cash-for-LTC, festival advance to boost consumer demand

Mumbai returns to normal after worst power outage in decades

Vedanta shares slump 20% as delisting offer fails

Mazagon Dock Shipbuilders list at 49% premium

UTI AMC shares make tepid debut; drop 14% at close

Let’s start with what really happened in the market today.

Although the benchmark equity indices managed to end in the green with modest gains for the eighth day, yet most sectors, barring healthcare and IT, ended in the red. Infosys was the biggest gainer, up 2.93 per cent to Rs 1,139.20, followed closely by ITC that advanced 2.74 per cent.

Midcaps and smallcaps underperformed the largecap. Sector wise, the BSE IT, TECk, Healthcare and FMCG index advanced up to 1.50 per cent. On the other hand, other sectoral indices ended in the red.

While the Sensex closed 84 points up at around 40,594, Nifty settled at 11,931.

Why did the latest announcements by FM failed to give a big push to the market? Are bulls getting tired after eight days of gains? We caught up with G Chokkalingam, Founder, Equinomics Research and Advisory to try and understand the market undercurrent.

Welcome to the show, Mr Chokkalingam

Q: Why D-Street did not give much importance to FM announcements today?

Q: How the latest measures announced by the government can help investors and the economy?

Q What’s next for Vedanta shareholders now?

On the daily technical chart, Nifty formed a Doji candle, suggesting indecisiveness at higher levels among traders. A weakness may creep in, warned some analysts.

We caught up with Nirav Chheda from Nirmal Bang Securities to do the chart reading.

Q: What are the Nifty tech charts telling us?

Q: What is your reading from the F&O data?

Q: Can we expect some profit taking now?

Globally, other Asian markets ended mixed. European markets traded higher in early deals. US stock futures also edged higher, signalling that markets will open with muted gains after posting their biggest weekly rally in three months.

That’s all for now. Do check out ETMarkets.com for all the news, market analysis, investment strategies and dozens of stock recommendations. Enjoy your evening. Bye bye!





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