MarketBuzz

Indian benchmark indices, Sensex and Nifty 50, are likely to open in the red in the trading session of January 31, a day ahead of the Budget 2024 speech by Union Finance Minister Nirmala Sitharaman.

Overnight cues are quite mixed. The US market ended mixed with the NASDAQ bearing the brunt of selling pressure in Alphabet and Microsoft following earnings. Asian shares fell broadly in morning trade as Chinese markets wobbled after an official factory survey showed China's manufacturing activity in January contracted for a fourth straight month.

Meanwhile, GIFT Nifty indicated a start in the red for the domestic market. The index was trading 0.20% lower at 21,627 at 8:38 am, lower than Nifty 50’s close of 21,522.10 in the previous session.

Key stocks to track: Maruti Suzuki, L&T, Dr Reddy's, Ambuja Cement, Shree Cement, Sun Pharma and more

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Indian benchmark indices, Sensex and Nifty 50, are likely to open in the green in the trading session of January 30 with a heavy week ahead as Budget 2024, auto sales numbers and corporate earnings are all lined up this week.  

India's GIFT Nifty was trading at 21,961 points as of 7:50 a.m. IST, suggesting the NSE Nifty 50 will open above its January 29 close of 21,737.60.

Overnight in the US, Wall Street equities rose overnight with the S&P 500 hitting a fresh record high, ahead of key corporate earnings and Fed policy decision on January 31. Asian markets were muted.

Oil prices cooled off from two-month highs with brand futures down a little over a percent to the $82.4 a barrel mark.

Meanwhile, in the previous session, the Nifty 50 and the BSE Sensex logged their best day since December 4, 2023, driven by gains in heavyweights Reliance Industries and ONGC as oil prices climbed.

Stocks to watch: ITC, Bajaj Finance, NTPC, Vodafone Idea, Piramal Enterprises, Marico 

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Indian benchmark indices, Sensex and Nifty 50, are likely to open higher in the trading session on January 29, after a truncated trading last week.

In global cues, US markets pulled off after a six-day rally on January 25 while European indices ended last week on fresh two year highs. Asian shares were in green after China rolled out measures to stabilise its markets, while US data added to hopes of early interest rate cuts.

However, the keyword continues to remain oil prices that are tracking near two-month highs brand futures at $83 a barrel. Oil prices continue to remain relatively firm.

India's GIFT Nifty was trading at 21,641.00 points as of 8:10 a.m. IST, suggesting the NSE Nifty 50 will open above its January 25 close of 21,352.60.

Bajaj Finance, Bharat Petroleum Corporation, ITC and NTPC are due to report their earnings for the October to December 2023 quarter.

Top stocks to track: HDFC Bank, Adani Power, Zee, Tata Technologies

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The Indian benchmark indices, Sensex and Nifty 50, are likely to open the trading session on a positive note on January 25, after ending one percent higher in the previous session.

The cues from the US continued to remain mixed in a range-bound session. The S&P 500 and NASDAQ extended their winning streak for the fifth consecutive day, with Netflix surging 10% after reporting robust earnings for the December quarters. Meanwhile, the Dow Jones experienced its second consecutive session of decline.

In the previous session, the domestic market managed to regain most of the losses seen in the session before that with broader markets seeing a sharp recovery. The Midcap index surged nearly 1500 points from its intraday low.

Meanwhile, oil prices rose after data showed US crude stockpiles fell more than expected last week, while the Chinese central bank's cut in banks' reserve ratio reinforced hopes of more stimulus measures and economic recovery. The March contract for Brent crude gained 20 cents, 0.3%, to $80.24 a barrel as at 0128 GMT. U.S. West Texas Intermediate crude climbed 22 cents, or 0.3%, to $75.31 a barrel.

Earnings to track: Vedanta, ACC, AU Small Finance Bank, SBI Card, Shriram Finance, Syngene International, PNB, HPCL and Chola Investment

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Indian benchmark indices, Sensex and Nifty 50, are likely to open higher in the trading session of January 24, amid mixed cues from the global market. The GIFT Nifty is indicating a start with healthy gains with investors keeping an eye on companies that will report quarterly financial results.

Asian shares rose in the morning on optimism that Chinese authorities will offer support for its stock markets, which have plummeted to multi-year lows, while a hawkish tilt from the Bank of Japan lifted the yen. The MSCI's broadest index of Asia-Pacific shares outside Japan was 0.27% higher. Still, the index is down 5% in January, set for its worst monthly performance since August.

Overnight in the US, NASDAQ and S&P recorded minor gains but closed at record highs while the blue chip index Dow Jones snapped a three day gaining streak to close in the red.

In the previous domestic session, pain was seen in the broader markets with the Nifty Midcap index recording its biggest single-day drop in a month. That fall led to the erosion of ₹8 lakh crore in investor wealth. HDFC Bank contributed to almost 50% of the Nifty Bank’s fall.

Bajaj Auto Balkrishna Industries, TVS, Canara Bank, Tata Steel and Tech Mahindra are among the firms that will report quarterly earnings later in the day. 

Tune in to the Marketbuzz Podcast for more cues

Indian benchmark indices, Sensex and Nifty 50, are likely to start the trading session of January 23 on a positive note as both global and domestic cues suggest.

In terms of global setup, US closed the first session of the week with minor gains overnight but at a record high tracking earnings and economic data with all the three major indices closing with gains.

In the previous domestic session on January 20, the market saw thin volumes with the broader market closing with healthy gains while benchmark indices closed in the red. For Nifty 50, drags came in largely from IT and FM G names.

The good part was that the HDFC Bank snapped its three day losing streak. In the trading session this morning, the major move in both Nifty 50 and Nifty Bank will depend on how ICICI Bank reacts to third quarter earnings that came in largely better than estimates.

Gift Nifty is indicating a positive start and was up more than 100 points at the of recording the podcast.

Axis Bank and Havell's are expected to report their earnings later in the day while globally, Netflix will report its financial results for the December quarter.

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Indian benchmark indices, Sensex and Nifty 50, are likely to open higher on January 19, after a three-day losing streak, tracking Asian peers.

The previous session was another weak one with the markets extending losses for the third street session. The sluggish global market markets, in addition to mixed quarterly earnings seem to be weighing on sentiment at least until January 18. HDFC Bank, IndiaMart, LTI Mindtree saw downside following results. In the January 19 session, the market will react to IndusInd Bank’s Q3 numbers.

The global setup seems positive as the US markets rose in the overnight session led by the tech led rally. Asian shares largely traded higher in morning trade as the Japanese inflation in December hit the lowest since June 2022.

Meanwhile, Reliance Industries, HUL and Ultratech Cement and Paytm are due to report earnings later in the day. ICICI Bank and IDFC First Bank will report results on January 20, when there will also be a special or limited trading session.

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Indian benchmark indices, Sensex and Nifty 50, are likely to start the trading session of January 18 in the red, a day after the biggest fall in two years.

The Nifty Bank index also saw the biggest fall since 2022 with HDFC Bank recording the worst day in three years.

It remains to be seen if the previous session’s move was exceptional or if it will sustain given the weak global cues combined with pressure in private banks weighing on sentiment. The Street is likely to focus on financial earnings post HDFC Bank and track if there will be net interest margin pressure in other banks as well. IndusInd Bank and South Indian Bank are among the lenders expected to report earnings later in the day.

The Central Bank and RBL Bank will report results on January 19 while the ICICI Bank will release quarterly numbers the day after. Since Reliance Industries will also report numbers after the January 20 trading session, January 22, Monday’s session will be key to watch. 

The global setup looks weak, the China GDP data being the key concern. The US markets ended lower in the overnight session while Asia shares were weak this morning. Brent crude was hovering at around $78 per barrel. The GIFT nifty too is indicating a lower start for the domestic market.

Tune in to Marketbuzz Podcast for more cues

Sensex and Nifty 50 are likely to to open with cuts in the trading session of January 17.  

India’s benchmark indices, Sensex and Nifty 50, are likely to start the trading session of January 16 little changed from the previous close.

After Nifty 50 conquered the 22,000 mark, the markets posted a record close led by heavyweights like Reliance Industries as well as IT stocks, which saw continued buying. The Nifty 50 ended higher for the fifth consecutive session with the midcap index too posting a record close.

There seems to be momentum from results, a pre-election rally, and inflation data, which was softer-than-anticipated.

According to market experts, the strategy of possibly buying on dips with a focus on stock selection is likely to continue.

Globally, the US markets were closed overnight. Asia stocks were trading largely lower while Brent crude was a bit sluggish at around $78 per barrel.

The GIFT Nifty is indicating a softer start. Quarterly results are the major cues to watch out for with Federal Bank, HDFC Bank, and Bank of Maharashtra in focus.

Tune in to the Marketbuzz Podcast for more cues