MarketBuzz

1207: Marketbuzz Podcast with Kanishka Sarkar: Here are 10 key talking points


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Welcome to CNBC-TV18’s Marketbuzz Podcast Check out all the cues before the trading session of March 5

- In the previous session, the Nifty held firm above 22,400. Both Sensex and Nifty settled at new record high levels in a highly volatile trade. There was buying in energy and banking shares as Moody's upgraded 2024 India GDP growth forecast on "better than expected" economic data.

- There was also large buying from domestic institutions. The DIIs bought Rs ₹7,300 crore in the first three days of March.

- Overnight in the US, all three major indexes retreated with the S&P 500
 and Nasdaq Composite off all-time highs, despite technology stocks tied to the artificial intelligence boom seeing a rally. The S&P 500 shed 0.12%, while the Nasdaq Composite slipped 0.41%. The Dow Jones Industrial Average lost 0.25%.

-Asia-Pacific markets also fell this morning as China’s “Two Sessions” meeting got under way. Investors are watching out for the details of its economic plans after the country projected a GDP growth target of “around 5%” for 2024. The country also expects the inflation rate to rise to “around 3%.”

-Japan’s Nikkei 225 fell below the 40,000 mark after crossing that milestone yesterday. South Korea’s Kospi also slipped 0.13%, and the small-cap Kosdaq shed 0.92%. Hong Kong’s Hang Seng index fell 1.4%.

-On the commodities front, gold futures settled at a record high on Monday as traders bet the Federal Reserve will start cutting interest rates in the second half of the year. Futures reached $2,126.30, before falling slightly to $2,115.38 per ounce currently.

-Bitcoin has surged past 67000$ for the first time ever. This surge is ahead of bitcoin halving in April and big inflows due to bitcoin spot ETF.

- Tata Motors shares will be significant to watch today. The company has decided to demerge its PV and CV business into two separate entities. Analysts however believe most of the re-rating of tata motors individual segments has already happened.

- According to sources, Macrotech Developers has launched QIP to raise funds. They’ve said that the company is looking to raise ₹3,300 crore through the QIP.

-Tata Communications is another key stock to watch. The Department of Telecom has granted an additional authorisation to provide Machine to Machine (M2M) services in the national area under the company's existing Unified License Agreement. The service authorisation has a validity of 20 years.

-As of 7:30, the Gift Nifty indicated a flat start for the Indian market.

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