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Market Watch: Is the market showing signs of fatigue? 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 Atul P. M and here are the main headlines at this hour.

The Indian economy rebounded after slipping into recession

Flipkart and Amazon close 88% of festive online sales

Oil regulator PNGRB simplifies the tariff for gas pipelines

Gasoline and diesel are soaring as oil prices worldwide hit their highest levels in this fiscal year

Singapore’s GIC plans to float a $ 3 billion Indian-focused public market fund

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

Benchmark stock indices closed lower in a seesaw session on Friday, dragged lower by index heavyweights as markets struggled to move past recent record highs. Moderate sentiment in global markets also weighed.

Sensex lost 0.25 percent or 110 points to close at 44,150, while colleague Nifty dropped 18 points to close at 12,969 points.

Reliance Industries, the country’s most highly regarded company, was the most contributor to Sensex’s losses as it fell 1.2 percent. Then followed software giants Infosys and Tata Consultancy Services, which lost 1.2 percent and 1.5 percent respectively.

Meanwhile, mid- and small-cap indices had a field day, up 1.9 percent and 2.4 percent, respectively.

With the future looking uncertain, what awaits the market and investors? Will the rally start again, or will we witness a long pause, or worse – a correction?

To discuss this and more, we spoke with Rusmik Oza, head of fundamental research, Kotak Securities, to decipher what’s in store for the market.

Welcome to the show, Mr. Oza.

1) Will the market resume its upward trend, or will there be fatigue?

2) Mid and small caps showed extraordinary performance in current trading. What is happening in that space?

3) Which sectors or themes are safer for investors in these volatile times?

Technically, Nifty turned a candle to rising channel resistance, indicating that the rally is getting tired and could take a break to consolidate its gains.

We spoke to Nilesh Jain, Derivative & Technical Research Analyst at Anand Rathi Financial Services, to decipher the charts.

Welcome to the show, Mr. Jain.

1) Nifty has witnessed a volatile streak since crossing the 13,000 mark for the first time. What is the graph telling you right now?

2) Which stocks do you think are technically ready to deliver decent profits through the end of 2020?

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3) How do you see Nifty doing until the end of this year?

Meanwhile, global markets also took a breather after the recent stellar rally as concerns about the vaccine’s effectiveness weighed on investor sentiment.

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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