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Market Watch: How Much Profit Will Be Left in Burger King Stock After the Robust Listing? The Economic Times Markets Podcast




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Welcome to ETMarkets Watch, the show about stocks, market trends and ideas for making money. I am Nikhil Agarwal and here are the main headlines at this hour.

Burger King zooms in 131% on debut trade
Ms. Bectors’s Rs 540-cr IPO will open for subscription on Tuesday
November WPI inflation hit its nine-month high, even at moderate food prices
Three investors, including Tata Group, show interest in Air India
YouTube, Gmail, Google Docs are lost in India and several other countries

Let’s take a quick look at what happened on Dalal Street today.

Led by gains in ICICI Bank, L&T and Kotak Mahindra Bank, Sensex scored more than 150 points to finish on a new record Monday. Amid sustained inflows of foreign funds and a largely positive trend in global markets, Sensex closed at 46,253 while Nifty closed at a record 13,558.15.

ONGC was the largest asset in the Sensex package with an increase of approximately 5 percent, followed by L&T, NTPC, ICICI Bank, Sun Pharma, HCL Tech, Titan and Kotak Mahindra Bank.

On the other hand, M&M, Bajaj Auto, Tech Mahindra and Bajaj Finserv were among the laggards.

Mid and small cap indices outperformed their large cap indices. Meanwhile, Burger King shares made a remarkable debut on stock exchanges. The script settled 131 percent higher at Rs 138.40 at the issue price of Rs 60. Going forward, Ms. Bectors’ IPO will open Tuesday.

So, how much of an advantage is left in Burger King stock after the robust listing? And should one go for the IPO of Ms. Bectors for stock market profits? To discuss this and more, we spoke with G Chokkalingam, founder of Equinomics Research and Advisory, to understand what lies ahead for the market.

Welcome to the show, Mr. Chokkalingam
1) Can you name some of the factors that will now guide D-Street?

2) Burger King IPO doubles on debut. Should you stay seated?

3) And, should one also apply for Ms. Bector IPO for listing profits?

Technically, Nifty formed a ‘Doji’ candle for the third consecutive session, indicating indecision in the market. Analysts think the Nifty has formed a good base near the 13,500-13,440 zone and if it stays above the stated levels the bullish momentum could continue to the immediate 13,600-13,650 hurdle zone.

We spoke with technical analyst Nirav Chheda of Nirmal Bang Securities to decipher the charts.

Welcome to the show, Mr. Chheda
1) What do the charts look like after today’s trading?

2) What do you read about M&A data?

3) What do momentum indicators look like in the coming week?

Globally, other Asian markets mostly ended in green, while European markets traded higher in early deals. US stock futures rallied as potential breakthroughs in stimulus talks in Washington and Brexit negotiations in Brussels, along with the rollout of coronavirus vaccines in the United States, are expected to push stocks up into the last full week of trading of the year.

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

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