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Welcome to CNBC-TV18’s Marketbuzz Podcast, here are top news from around the world ahead of the trading session of October 23
-While Monday's session brought volatility along with it, Tuesday was a one-way drop for the Nifty and the market overall as every crucial level was violated and every small bounce intraday was sold into. A close below the important level of 24,500 will also not please the bulls. ICICI Bank was the only index constituent that ended with some sort of gains.
-The two-day fall has led to a cumulative erosion of ₹13.7 lakh crore worth of investor wealth. The Smallcap index, which had been rather resilient amidst the Midcap fall, declined 4% in a single session on Tuesday. Barring Dr. Lal Pathlabs, every single stock on the Smallcap index ended lower.
-Today is the day of the Nifty Bank weekly expiry.
-Stocks to watch: Bajaj Finance, Amber Enterprises, Can Fin Homes, ICICI Prudential, M&M Finance, Max Financial Services, Persistent Systems, Coforge, Zomato
Earning: Hindustan Unilever, Bajaj Finserv, Birlasoft, Craftsman Automation, Godrej Properties, IIFL Finance, Karnataka Bank, Dr. Lal Pathlabs, MAS Financial, Metro Brands, Nuvoco Vistas, Sona BLW, TVS Motor, VIP Industries, Syngene, SBI Life Insurance, United Spirits, Piramal Pharma, Sagar Cements
-GIFTNifty traded flat vs Nifty Futures' Tuesday's close, indicating a muted-to-positive start for the Indian market today.
-In terms of global cues, Asian shares struggled for direction in early trade this morning, reflecting subdued risk appetite as traders mulled the prospect of less aggressive Federal Reserve interest rate cuts. Stocks moved between losses and gains in Japan and South Korea, with those in Australia modestly higher. Futures pointed to gains in Hong Kong. US contracts were flat after the S&P 500 closed little changed. Treasury 10-year yields hovered near 4.2% after topping that level for the first time since July.
-Overnight in the U.S., the S&P 500 and the Dow Jones Industrial Average ended Tuesday marginally lower, both posting a second straight day of losses. The S&P 500 ended the session lower by 0.05%, and it was the broad market index’s first back-to-back loss since early September. The 30-stock Dow slid 0.02%, but the Nasdaq Composite rose 0.18%.
-In commodities, oil fell as a US industry group signaled a rise in nationwide crude inventories, and the Biden administration renewed efforts to secure a cease-fire in the Middle East. Gold was little changed after climbing to a fresh record.
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Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are top developments from around the world ahead of the trading session of October 22
-A rebound from lows for the Nifty 50 was short-lived on Monday as despite the best efforts from HDFC Bank and Reliance Industries, the index ended in the red, without any follow-up buying. For the 93 points contributed by the Nifty heavyweights to the upside, there was a team of Kotak Mahindra Bank, Infosys, IndusInd Bank, ICICI Bank and Tata Consumer Products to offset those gains.
-Today, shares of Bajaj Housing Finance, 360 One WAM, City Union Bank, HFCL, Jana Small Finance Bank, Mahindra Logistics, Union Bank of India are some of the broader market names that will react to results.
-Earnings: Bajaj Finance, Adani Energy Solutions, Adani Green, Amber Enterprises, Can Fin Homes, Chennai Petro, ICICI Prudential, Indus Towers, IIFL Securities, M&M financial, ICICI Securities, Persistent Systems, Coforge, Shoppers Stop, SRF, Varun Beverages, Zensar Technologies, Olectra Greentech, Zomato
-GIFT Nifty was trading flat this morning vs Nifty Futures' Monday's close, indicating a muted-to-positive start for Indian market
-Other stocks to track: Tata Motors, RVNL
-Hyundai Motor India IPO lists today. Its grey market premium has declined to 2%, with shares now trading at a premium of Rs 48 as against the issue price of Rs 1,960. The IPO of Hyundai Motor India, the Indian arm of South Korean automaker Hyundai, got subscribed 2.37 times on the third day of the bidding last week, helped by institutional buyers. This is the largest IPO in the country, surpassing LIC's initial share sale of Rs 21,000 crore.
-Asian equities declined for a second day as Wall Street stocks took a breather after notching their longest weekly rally this year. Bonds tumbled on cooling expectations of Federal Reserve rate cuts. Shares in Australia, Japan, and South Korea all fell, while futures for benchmarks in Hong Kong pointed to losses. That’s after equities in the US dropped from nearl\y overbought levels, following a relentless advance to all-time highs.
-Overnight in the US, the S&P 500 fell 0.2% with all of its major groups but technology pushing lower. The Dow Jones Industrial Average slid 0.8%. Nvidia Corp. hit a record high, with the Nasdaq 100 up 0.2%
-Oil prices fell this morning, paring the previous day's nearly 2% rise as the top U.S. diplomat renewed efforts to push for a ceasefire in the Middle East, and as slow demand in China, the world's top oil importer, continued to weigh on the market. Brent crude futures for December delivery were down 26 cents, or 0.3%, at $74.03 a barrel.
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Welcome CNBC-TV18’s Marketbuzz Podcast. Here are top news from around the world ahead of the trading session of October 21
-The market recorded its third consecutive weekly loss, marking the longest losing streak of 2024, despite a surge on Friday that helped reduce the decline. A recovery in banking majors during the final session helped pare some losses, with both the Nifty and Sensex closing above 24,860 and 81,220, respectively.
-Sector performance was mixed, with banking, financials, and realty posting decent gains, while auto, metals, and FMCG sectors were the top losers. The broader indices reflected a similar trend, as the midcap index lost nearly a percent while smallcap closed slightly positive.
-Today, in the absence of any major triggers, market participants will focus on upcoming earnings for direction. Shares of HDFC Bank, Kotak Mahindra Bank, and Tech Mahindra, which reported earnings over the weekend, will be in focus on Monday.
-Earnings: UltraTech Cement, Hindustan Unilever, Bajaj Finance, Bajaj Finserv, HUL, SBI Life, ITC, Bharat Electronics, BPCL, HPCL, Coal India, JSW Steel, Shriram Finance, ICICI Bank.
-Stocks to watch: Alembic Pharma, HDFC Bank, MCX, Star Cement
-On the global front, Asia’s benchmark stock index rose this morning, while gold touched a record high as tensions in the Middle East stoked demand for the asset as a haven. Australian stocks climbed, while Japanese equities swung between gains and losses. US futures rose after the S&P 500 notched up a sixth straight weekly increase, its longest winning streak this year following a slew of corporate results and signs the world’s largest economy remains robust.
-On Friday, US stocks closed their latest winning week with more records. The S&P 500 rose 0.4% to squeak past the all-time high it had set early this week. The Dow Jones Industrial Average added 0.1%, to its own record set the day before, and the Nasdaq composite gained 0.6%. Netflix helped drive the market with a leap of 11.1% after the streaming giant reported stronger profit for the latest quarter than analysts expected. That was despite a slowdown in subscriber growth.
-In US earnings this week, Tesla Inc. faces questions on its production targets and regulatory challenges after the unveiling of its much-hyped Cybercab failed to enthuse investors and quell concerns over its recent vehicle sales.
-Now, despite the ongoing positivity in the US markets, the Indian markets have been largely unresponsive, a divergence likely to persist due to continued foreign fund outflows. Ajit Mishra of Religare Broking says that any change in the fund flow pattern would also be on the participants' radar.
-This morning, the GIFT Nifty was trading flat versus Nifty Futures' Friday's close, indicating a muted-to-negative start for the Indian market.
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Marketbuzz Podcast with Hormaz Fatakia: Nifty at precarious levels amidst earnings heavy session
Welcome to CNBC-TV18’s Marketbuzz Podcast, here are top developments ahead of the trading session of October 18
-Until the start of this week, there was a struggle for the Nifty to cross the upper end of this 500-point range of 24,700 - 25,250 that it found itself in. As the week draws to a close on Friday, the Nifty bulls are now struggling to defend the lower end of this range, having closed at the lows it had made on September 9.
-The Nifty fell for the third day in a row during its weekly options expiry on Thursday and has now declined in four out of the last five trading sessions. With Thursday's drop, the October 7 low of 24,694 now comes into the picture again and defending that will be the first task for the bulls when the markets open on Friday.
- The IT run-up will be tested on Friday after Infosys' results, which did not have any positive surprises either. Besides Infosys, shares of Wipro, LTIMindtree, Polycab, Tata Chemicals and others will also be reacting to their quarterly results that were reported after market hours on Thursday.
-Foreign institutions were heavy sellers in the cash market on Thursday and their selling intensity also picked up after tapering off for a few sessions.
-Asian equities rose, aided by sharp gains in the shares of AI chipmaker Taiwan Semiconductor Manufacturing Co. Treasuries steadied after heavy selling on Thursday, when new signs of vigor in the US economy led traders to trim expectations for rate cuts.Shares in Japan climbed, helped along by a weaker yen. Those in China fluctuated while stocks in Australia fell. TSMC jumped as much as 6.3% in opening trade, following a sharp rally Thursday for its US-listed shares driven by strong earnings and an upward revision of its 2024 revenue target.
-Stocks to watch: Infosys, Wipro, Axis Bank, LTIMindtree, Polycab, Tata Chemicals, Zomato, Indraprastha Gas
-GIFT Nifty was trading at discount of nearly 100 pts from Nifty Futures Thursday close, indicating a gap-down start for the Indian market.
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Marketbuzz Podcast: Indian markets may see a gap-down start according to the GIFT Nifty. Watch out for stocks like Adani Enterprises, Vedanta, and BSE.
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Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are top developments from around the world ahead of the trading session of October 11
-On a day when every single Indian mourned the demise of Tata Sons' Chairman Emeritus Ratan Tata, Dalal Street only found it appropriate to remain in snooze mode and not have any big fluctuations on the weekly options expiry of the Nifty 50 contracts. The Nifty traded in a 160-point range on Thursday but could not surpass Wednesday's high of 25,234. It closed right at the mark of 25,000.
-All eyes for Friday's trading session will be on the reaction that Wall Street has to the CPI data for September, which could potentially determine what will the Fed do in its November policy, after a very strong non-farm payrolls data has completely taken a 50 basis points rate cut off the table.
-On the domestic front, TCS will react to its quarterly results, which were a miss on the margin front. Revenues were in-line with expectations but most other parameters were also a marginal miss. Stocks like Anand Rathi Wealth, IREDA and Tata Elxsi will also be reacting to their quarterly results.
-Other stocks to track: Den Networks, Mazagon Dock Shipbuilders, Oberoi Realty, Krsnaa Diagnostics, Bandhan Bank, Uno Minda
-Shares rose in Asia, sidestepping losses on Wall Street following hotter-than-expected core inflation that heightened the focus on the Federal Reserve’s next move. Japanese and South Korean stocks opened higher while those in Australia slipped. US equity futures also edged higher, after the S&P 500 fell 0.2% and the Nasdaq 100 dropped 0.1% Thursday.
-US data released Thursday underscored the challenge facing the Fed. Underlying US inflation rose more than forecast in September in a sign of stalling progress in the fight to bring prices to target. Separate data showed applications for US unemployment benefits rose last week to the highest in over a year.
-In commodities, oil edged lower, trimming some of its gains from Thursday when West Texas Intermediate futures climbed 3.6% as traders awaited Israel’s response to Iran’s missile attack.
-GIF TNifty was lower this morning trading at discount of nearly 20 pts from Nifty Futures Thursday close, indicating a start in the red for the Indian market.
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-Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are the top developments from around the world ahead of the trading session on October 10
-Ratan Tata, the former chairman of the diversified Tata Group and a towering figure in Indian business, passed away at the age of 86 last night. He has left behind a profound legacy of business leadership, global expansion, and a deep commitment to societal betterment, having reportedly donated 60–65% of his income to charitable causes. The state of Maharashtra has announced one day of state mourning.
-The Nifty needed follow-up buying post Tuesday's rebound to confirm that a bottom has indeed been made for now. However, that was not to be. For a better part of Wednesday's trading session, the Nifty continued to move higher, carrying on from where it left off on Tuesday, but a swift reversal in the second half not only took the Nifty down from the day's high, but also end the session on a negative note. Reliance Industries and HDFC Bank have been leading the recent sell-off on the index as well. Adding to their underperformance was a sell-off in index FMCG names. ITC, Nestle India, Britannia, most of these names saw selling pressure over worries of them reporting weak results.
-Thursday will be a very important trading session for the markets. Nifty will have its weekly options expiry, earnings season begins with TCS reporting results, the US will report its CPI figures for the month of September and other broader market names like Tata Elxsi and IREDA will also be reporting results.
-Stocks to watch: Adani Enterprises, Vedanta, Infosys, Patanjali Foods, Britannia, JM Financial, PNC Infratech, Rain Industries, GR Infra, Star Health Insurance, Zee Entertainment
-Asian equities rose Thursday after their US peers set a fresh high ahead of inflation data that may define Federal Reserve policy easing in the coming months. Shares in Japan, South Korea, Australia and China all advanced.
-Back in the US, the S&P 500 rose 0.7% to a record high on Wednesday, its 44th of the year, with tech shares again propelling the gains. Apple Inc. climbed 1.7%. Nvidia Corp. halted a five-day rally while Tesla Inc. edged lower ahead of the Robotaxi launch. Alphabet Inc. fell 1.5% on news the US is weighing a Google breakup in a historic big-tech antitrust case.
-US consumer price data to be released later Thursday is expected to show inflation further moderating, supporting the Fed’s anticipated easing in the coming months. Despite this, market pricing indicates the likelihood of another 50 basis point rate cut is all but off the table following last week’s strong jobs report.
-Oil prices rose in early Asian trade on concerns about potential supply disruptions in the Middle East, with Israel planning to strike oil-producer Iran, and on spikes in fuel demand as a major storm barreled into Florida Brent crude futures were close to $77 a barrel.
-GIFT Nifty was trading with a premium of more than 100 points from Nifty Futures' Wednesday close, indicating a gap-up start for the Indian market.
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Welcome to CNBC-TV18’s Marketbuzz Podcast . Here are top news from around the world, ahead of the trading session of October 9
-Hyundai Motor India’s IPO details are out: This will be India's largest IPO till date. The company has fixed the price band for its public issue between ₹1,865 to ₹1,960 per equity share. The three-day issue will open for subscription on October 15 and close on October 17, 2024. At the upper end of the price band, the IPO size will be ₹27,870 crore, which will surpass LIC's size of over ₹21,000 crore. The IPO will be a complete Offer For Sale (OFS), where the company's parent will be selling 14.2 crore shares or 17.5% of the total equity.
-Yesterday, there was green on the screen, finally, which sustained through the day. Back from Nifty being above 26,000 just two weeks prior, the bulls will see 25,000 on the Nifty as a sigh of relief post Tuesday's close. The benchmark index snapped a six-day losing streak on Tuesday, which led to a loss of nearly ₹27 lakh crore in investor wealth.
-Jai Bala of cashthechaos.com believes that the Nifty has a very high probability of testing its Lok Sabha election day low, which is still around 4,000 points from Tuesday's closing levels.
-Wednesday will be another important session for the markets as the Reserve Bank of India will announce its Monetary Policy decision and the consensus going around is that while policy will be a "status quo" for the tenth time in a row, there might just be a change in policy stance to "neutral" from "withdrawal of accommodation."
-Commentary from the RBI Governor on the road ahead may be a key factor in determining market sentiment in mid-week trading before TCS kickstarts the earnings season on Thursday
-Stocks to track: Vedanta, IRFC, Ola Electric, Premier Energies, Tata Technologies, PB Fintech, Bharti Airtel, Torrent Power, IRB Infra, JSW Infra
-Chinese shares underperformed the region after investors paused on the rally with Beijing refusing to commit to more economic stimulus. Shares elsewhere in Asia gained. The CSI300 index fell as much as 5%, almost erasing gains of yesterday, while stocks in Hong Kong gained 1.7% after the biggest tumble in 16 years Tuesday. Shares in Australia and Japan climbed Wednesday after a tech rally lifted Wall Street and bets on Federal Reserve rate cuts stabilized.
-Overnight on Wall Street, US markets staged a comeback on Tuesday as oil prices eased amidst ongoing tensions in the Middle East. The S&P 500 gained over 1% to close above the mark of 5,750, while the Nasdaq Composite was back above the mark of 18,000, ending with gains of 1.5% courtesy of a rally in chipmakers like Nvidia, which has surged 14% in the last five sessions. The Dow Jones was an underperformer, but ended with gains of over 100 points.
-Oil steadied this morning after tumbling the most in more than a year in the previous session on concerns around China’s economic outlook, with the market also watching for Israel’s response to Iran’s missile barrage last week. Brent traded near $77 a barrel after losing 4.6% on Tuesday, while West Texas Intermediate was below $74.
-GIFT Nifty was higher this morning trading at a premium of more than 30 pts from Nifty Futures Tuesday close, indicating a start in the green for the Indian market
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Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are top news from around the world ahead of the trading session of October 8
-The counting of votes for Haryana and Jammu and Kashmir assembly polls will be done today. Political parties and leaders wait with bated breath for the Haryana Assembly poll results, with the ruling BJP confident of retaining power for a third term, and the Congress, which is out of power for 10 years, more than hopeful of making a comeback. Meanwhile, in Jammu and Kashmir, this is the first election since the abrogation of Article 370 in 2019. So, it’s a pivotal moment for the Union Territory as it awaits its first elected government in five years.
-On October 7, was another day of Nifty opening higher and the recovery getting sold into. The Nifty broke more key levels on the downside in Monday's session, carrying on from where it left off on Friday.
-HDFC Bank continued to lead the losses in Monday's session as well. The stock is also down six days in a row and has lost over ₹1 lakh crore in market capitalisation during this period. HDFC Bank shares had seen a brief recovery towards the close of trade but yet again that was swiftly sold into.
-Stocks in focus: HDFC Bank, Godrej Consumer Products, Mahanagar Gas, Nykaa, Bharat Electronics, Sobha, MOIL, Hi-Tech Pipes, HEG
-The GIFT Nifty was lower this morning trading at a discount of more than 100 pts from Nifty Futures Monday close, indicating a gap-down start for the Indian market.
-Chinese stocks listed in the mainland jumped this morning as trading resumed following a week-long holiday, with encouraging home sales and consumption data giving fresh impetus to a rally sparked by Beijing’s stimulus blitz. Shares dropped in Japan, South Korea and Hong Kong after Wall Street was dragged down by a tech selloff, geopolitical angst and bets on a smaller Federal Reserve rate cut.
-Overnight, the S&P 500 fell 1% on Monday after notching a four-week winning run. Alphabet Inc. sank 2.4% as a judge ruled it must lift restrictions that prevent developers from setting up rival marketplaces that compete with its Google Play Store.
-Brent crude has jumped above $80 a barrel amid mounting tensions in the Middle East. In the wake of Friday’s solid jobs data, Treasuries continued to drop — with the 10-year yield topping 4%.
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Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are top developments from around the world ahead of the trading session of October 7
-The Nifty 50 on Friday did huff and puff its way to somehow close above 25,000, it could not avoid registering its worst week of 2024, a week that saw ₹17 lakh crore erosion in the overall market capitalisation of BSE-listed companies. The trio of HDFC Bank, ICICI Bank and Reliance Industries contributed to over 40% of the sell-off seen on the Nifty during Friday's session, although FMCG stocks were the ones that triggered the move downwards during the final trading day of the week.
-The upcoming week promises no respite either. The tensions between Iran and Israel continue to remain an overhang as there has been no positive development on that front. This will also have an impact on the Reserve Bank of India's policy decision on Wednesday.
-While a majority of CNBC-TV18's Citizen's MPC believes that the RBI should not cut rates, they believe that there should be a change in the central bank's stance to "neutral."
-Earnings season begins in the second half of the upcoming week with TCS kickstarting proceedings on Thursday, October 10, along with other broader market names like Tata Elxsi, IREDA and others.
-The Nifty bulls may look for some respite on Monday considering the oversold setups and a positive handover from Wall Street post the non-farm payrolls data.
-Stocks to watch: Titan, IndusInd Bank, Federal Bank, Macrotech Developers, Godrej Properties, Adani Wilmar, Metropolis Healthcare, RBL Bank, L&T Finance, GAIL, Gravita India, MTNL, Landmark Cars
-Asian stocks rose this morning after stronger-than-expected US payroll data underscored the health of the world’s largest economy and boosted optimism over a soft landing. Equity benchmarks in Australia, South Korea and Japan all gained after the S&P 500 and Treasury yields rose on Friday as traders trimmed bets on Federal Reserve interest-rate cuts. US 10-year yields climbed a further one basis point Monday, nearing the key 4% threshold.
-Over in the U.S, stocks advanced on Friday after a stronger-than-expected jobs report gave investors confidence around the health of the economy. Data showed nonfarm payrolls grew by 254,000 jobs in September, far outpacing the forecasted gain of 150,000 from economists polled by Dow Jones. The S&P 500 rose 0.9%, while the Nasdaq Composite jumped 1.22%. The Dow Jones Industrial Average added 0.81% to notch an all-time closing high of 42,352.75.
-Oil drifted lower as traders weighed Israel’s potential retaliation against Iran for a missile attack last week, with President Joe Biden discouraging a strike on Tehran’s crude fields.
-The GIFT Nifty was trading higher, at a premium of over 80 pts from Nifty Futures Friday close, indicating a gap-up start for the Indian market.
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Marketbuzz Podcast: Indian markets may see a gap-down start according to the GIFT Nifty. Watch out for stocks like Angel One, BSE, Bharat Forge and others.
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Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are top developments from around the world ahead of today’s trading session
-Thursday resulted in a sixth straight day of gains for the Nifty and this six-day winning streak itself has resulted in gains of over 800 points for the index, powered by the index heavyweights HDFC Bank and ICICI Bank. The Nifty Bank has been a key catalyst in this surge that the Nifty has seen going into a fresh series.
-Auto stocks led by Maruti powered the Nifty ahead during Thursday's trading session. India's largest passenger car manufacturer now has a market capitalisation of well over ₹4 lakh crore. The other bits of gains came from Metal stocks, which continued to rally on hopes of further stimulus being injected in China.
-Friday's trading session will see the Nifty index rejig taking place post closing and Trent and Bharat Electronics (BEL) will become part of the Nifty 50, replacing LTIMindtree and Divis Laboratories. There will also be rejig in the Nifty Bank and the Nifty 500, and an increase and decline in weightage in a lot of stocks.
- GIFT Nifty was trading with a premium of 45 points from Nifty Futures' Thursday close, indicating a start in the Green for the Indian market.
Stocks in focus: IT stocks, Prataap Snacks, Biocon, Nuvama Wealth Management, KEC International, Thangamayil Jewellers, Adani Green Energy, RailTel, RITES, Indian Bank, NTPC Green
-Stocks in Asia extended gains as risk appetite across financial markets got a further boost from China’s latest stimulus measures and upbeat US momentum. Equities in Australia advanced, while China’s benchmark CSI 300 Index is set for its biggest weekly gain in almost a decade after officials pledged to increase fiscal support and stabilize the property sector to revive growth.
-Overnight, in the US, revised data showed the US economy in better shape than initially expected, spurred mainly by bigger consumer-driven growth fueled by robust incomes. A decline in US jobless claims underscored the resilience of the labor market. But investors tuning into commentary from Fed Chair Jerome Powell on Thursday didn’t get any details on the economic outlook or path for monetary policy.
-Thursday’s Wall Street trading session ended on a strong note, with the three major averages posting gains and the S&P 500 closing at a fresh record for the third time this week. The Nasdaq Composite also notched four straight winning days.
-In commodities, oil slid further as Saudi Arabia was reportedly committed to increasing output in December, while Libya named its new central bank governor, opening the way to reviving some crude production. Copper rallied back above $10,000 a ton and iron ore broke through $100 while gold hit yet another record high on Thursday.
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Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are top developments from around the world ahead of the trading session of September 26
-It seems the Nifty 50 is currently in a not-ready-to-go-down mode. The most minor dip gets bought into swiftly and the index continues to scale new peaks. Wednesday's session was no different and 26,032 is now the new record high for the Nifty and it remains to be seen for how long will that stay.
-It was a surge in the index heavyweights in the final few minutes of the trading session that took the Nifty to a new peak. HDFC Bank, Reliance Industries, Axis Bank, ICICI Bank, all of them saw a spurt during the final half hour, propelling the index higher. The monthly expiry of the Nifty Bank also had a role to play.
-Thursday is the monthly expiry of the Nifty and the index has gained over 850 points so far this series. This will be the fourth consecutive F&O Series that the Nifty ends with gains, having gained over 300 points in August as well.
-Gift Nifty was little changed this morning indicating a muted start for the Indian market this morning.
-Stocks to focus: Vedanta, PB Fintech, Five-Star Business Finance, Adani Group, ASK Automotive, SpiceJet, IDFC
-Asian equities rallied this morning as fresh signs of vigor in technology stocks spread across Asia. Currencies pared sharp moves from the prior day that supported the dollar over the yen. Equity benchmarks in the tech-heavy markets of Japan and South Korea advanced.
-Chinese equities fluctuated in opening trade. The Golden Dragon index of US-listed Chinese stocks fell on Wednesday, which may be an early sign of fatigue for the stimulus-driven rally in Chinese stocks this week.
-The Dow Jones and S&P 500 retreated from their respective record highs on Wednesday as some selling pressure emerged at higher levels for the two Wall Street benchmarks. The S&P 500 fell 0.2%, while the Dow Jones shed 0.7% or nearly 300 points during the trading session to end below the mark of 42,000. The Dow also snapped a four-day winning streak in the process. However, the Nasdaq just managed to end above the flat line.
-In commodities, oil was steady after plunging in the previous trading session. West Texas Intermediate, the US oil price, slipped more than 2% on Wednesday to settle below $70 a barrel. Elsewhere, gold traded steady near an all-time high as the weak US data bolstered the case for deeper interest rate cuts.
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-Welcome to CNBC-TV18’s Marketbuzz Podcast. Here aretop developments from around the world ahead of the trading session of September 25
-The Nifty 50 crossed the 26,000 mark on September 24. However, technical factors, along with the Nifty Financial Services expiry, took the index back to levels at which it closed on Monday. Nonetheless, 26,011 becomes the new record high for the Nifty, which has now gained over 1,000 points in the last nine trading sessions, starting September 11.
-While the focus remained on the Nifty, there was plenty of stock-specific activity within the broader markets with the Midcap index clinging on to some gains but the smallcap index ended with losses of over half a percent. Stocks like AstraZeneca and IEX moved on their respective newsflow, while names like SH Kelkar and Arvind Smartspaces surged on positive brokerage commentary.
-This morning the GIFT Nifty was trading with a discount of nearly 20 points from Nifty Futures' Tuesday close, indicating a start in the red for the Indian market. Wednesday will also be the monthly expiry of the Nifty Bank index and that has been the index to watch out for over the last few trading sessions.
-With the Nifty having moved the way it has, with domestic triggers still a week away from emerging and a landmark and a major event out of the way, the question now emerges whether it will be prudent to book profits at current levels and then wait for earnings to shape up starting the second week of October. By next week, companies will already begin sharing their quarterly business updates and that becomes the next major trigger for the markets.
-Stocks to track: Easy Trip Planners, real estate stocks, Delta Corp, KEC International, MCX, PC Jewellers, Gillette India, Zee Entertainment, Hindustan Foods, HDFC Life
-SEBI has cleared the IPO papers for Hyundai Motor India Ltd. As per a Moneycontrol report, Swiggy has also received the nod from market regulator post its confidential filing of draft papers to launch a widely anticipated initial public offer.
-Asian shares gained for a fifth day as a rally sparked by support measures from Beijing continued, while US stocks set fresh highs. Equity benchmarks rose in South Korea and Australia, while those for Japan slipped after the yen strengthened against the dollar in the prior two sessions.
-Overnight on Wall Street, US markets continued to shrug off weak economic data to post yet another day of record highs. The Dow Jones gained 0.2% or just over 80 points, while the S&P 500 advanced 0.25%. Both indices hit all-time highs intraday and also closed at record levels. The Nasdaq too, surged 0.6% but is still 600 points away from its own record high levels.
-In terms of commodities, oil steadied after its biggest advance in more than a week, as traders tracked developments in the Middle East and the impact on demand of China’s stimulus measures. Gold hit a record trading above $2,662 an ounce.
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Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are all the important updates ahead of the trading session of September 24
-The Nifty is now only 70 points away from the mark of 26,000. In case that does happen today, it would have taken the Nifty 38 trading sessions to get to 26,000 from the day it first scaled 25,000 on August 1.
-Beaten down sectors in recent times like the PSU Bank index turned out to be the top performer during Monday's trading session. The index saw its biggest single-day gain since June 3, which also saw the index make a near-term top. Barring IT, most of the other sectoral indices had a field day on Monday, including real estate and auto stocks. Some PSU names also saw a rebound, except for defence PSUs, which saw continued selling pressure.
-This morning, GIFTNifty was trading with a premium of more than 80 points from Nifty Futures' Monday close, indicating a gap-up start for the Indian market.
-Today is also the weekly expiry for the Nifty Financial Services index, which will keep the banking stocks in focus.
-Stocks to track: Reliance Power, Punjab National Bank, NTPC, Firstsource, GR Infraprojects, BGR Energy, AstraZeneca Pharma, Power Grid
-Asian stocks rose as China’s central bank lowered key rates in the latest attempt to shore up the economy and financial markets. Equity benchmarks in Japan jumped more than 1% while those in South Korea climbed. Futures for the FTSE China A50 Index jumped as much as 2%. The yield on China’s 10-year government bond declined to 2% for the first time on record.
-The People’s Bank of China announced a sweep of support for the economy, cutting its key short-term interest rate, and lowering the mortgage rate for existing housing loans.
-US data released Monday showed business activity expanded at a slightly slower pace in early September, while expectations deteriorated and a gauge of prices received climbed to a six-month high, stoking confidence the world’s largest economy can nail a soft landing. Investors are now awaiting data on the Fed’s preferred price metric and US personal spending later this week
-Overnight on Wall Street, the S&P 500 climbed to a fresh closing high as traders looked to build on last week's gains following the Federal Reserve's interest rate cut.The broad market index added 0.28%, while the Dow Jones Industrial Average gained 0.15%. Both indexes closed at records. The Nasdaq Composite ticked up 0.14%.
-In terms of commodities, gold rose to fresh all-time high as traders digested data and remarks from policymakers. Oil edged higher in early trading Tuesday after Israel launched airstrikes on targets across southern Lebanon, killing nearly 500 people and fanning fears of all-out war.
-Jamie Dimon, Chairman and CEO of JPMorgan Chase & Co, talked to CNBC-Tv18 about the shifting dynamics in global trade and national security, particularly concerning the United States' reliance on China. He, however, feels that India is poised to take advantage of US-China tensions. Dimon is also of the view that there is "plenty of room" for interest rates to decline in the US.
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