ETMarkets Morning Podcast: Your daily digest of market news

Good Morning, dear ETMarkets reader!

I have good news for you!

There are multiple signs that the domestic stock market should look up from the major crash of freaky Friday. There was no surprise from Germany, markets are shrugging off war cries on the Korea front and our government is suddenly going easy on the stimulus talk.

We start the day on this note, ladies and gentleman.

Here I am, Saloni Goel, your market jockey, to ready you for the day on Dalal Street with all the news, views and cues.

So first, Nifty futures are traded slightly higher on the Singapore Stock Exchange, signalling a possible easing of selling pressure on Dalal Street.

Asian markets have looked up. Nikkei is up and Australian shares are up and South Korea's KOSPI is flat.
US stocks closed slightly higher on Friday as investors shrugged off concerns about North Korea. The S&P500 closed higher, Nasdaq added 4 points but Dow slipped 9 points.

All of that should ease up your worries. But don’t expect any big bounce yet.

The Nifty50 technical charts look weak as the 50-pack rests below its 20-DMA, taking support at its 50-DMA at 9,954. The index has to stay above this mark. If it slips, it will be painful.

The worries over a stimulus package making the government overshooting its fiscal deficit target have also eased. Latest reports say the government has shelved the stimulus plan for now and would instead focus on fast-tracking the budgeted expenditure of ministries and departments to lift the economy.
Crude oil prices stayed elevated this morning, keeping most of their gains from the previous session to hold near their highest levels in months. Brent crude for November delivery was up 1 cent at $56.87 a barrel thus morning, having settled 0.8 per cent higher on Friday.

Do keep watching the rupee as that remains another pain point. The domestic currency on Friday dropped 31 paise to hit a four-month low of 65.12 against the US dollar on frenetic dollar demand from importers and banks.

FII selloff is another big worry. They have already sold Indian stocks worth $2.66 billion between August 1 and the third week of September, making it the biggest pullout of any major emerging market. Reports said the outflows exceeded those from major emerging markets such as South Korea, Taiwan, Indonesia and South Africa.

Nonetheless, stay optimistic and let’s hope for the best.
Watch out for Capacit'e Infraprojects’ listing. Remember, the Mumbai-based construction company made quite a splash in the primary market this past fortnight as its IPO saw a whopping 186-times subscription.

Shoppers Stop is another stock to watch as an Amazon affiliate has agreed to buy a 5 per cent stake in the Indian retailer for Rs 179 crore.

Keep a check on NDTV. The stock has hit upper circuit limit of 5 per cent in a depressed market on Friday amid reports that SpiceJet owner Ajay Singh was in talks to take over the media company.
Vijaya Bank and Dena Bank are discussing merger. Watch those two counters.

Don’t forget the metal stocks -- SAIL, Nalco, Tata Steel, Hindalco, Jindal Steel, Hind Zinc. They all fell big time on Friday. Might just bounce back.

If you are looking for 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 relatively low-risk mutual fund product that invests in a mix of stocks, debt and arbitrage opportunities is increasingly gaining popularity among investors worried about the stock market prospects after a four-year rally. That product is called equity savings fund.

JPMorgan’s Jehangir Aziz says India can’t afford a big-size stimulus package for the economy at this point and reminds that every such doleout in the past ended in tears.

Lastly, as the market’s broader fundamentals look weak, one analysts said the time may be ripe for some profit booking on the metals, banking and OMC counters.

So, 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!