MarketBuzz

Indian benchmark indices, Sensex and Nifty 50, are likely to open in the green on January 15 and continue the uptrend from the previous week with IT stocks in focus.

In the previous session on January 12, Sensex and Nifty 50 surged over a percent to hit their fresh all-time highs, driven by a stellar rally in IT stocks after TCS and Infosys reported financial results. Later in the day, Wipro and HCLTech also reported their quarterly earnings, following which there are likely to be stock reactions. Jio Financial and Angel one will report their numbers later today.

Now, in terms of the global setup, it seems as though the domestic market will be more resilient because the Dow closed more than 100 points lower, with several banks ending lower.

Oil prices slipped in early trade with traders watching out for supply disruption risk in the Middle East following strikes by U.S. and British forces to stop Houthi militia in Yemen from attacking ships in the Red Sea. Brent crude futures fell or 0.4% to $77.98 a barrel by 6:54 am India times after settling up 1.1% on January 12.

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India's benchmark indices, Sensex and Nifty 50, are likely to open the trading session of January 12, as the overall setup for the market looks positive on the domestic front.

The focus will be on information technology stocks after top companies TCS and Infosys flagged weak client spending in their quarterly results. The earnings reports, however, were largely in line or better than estimates.

On the global front, Wall Street equities closed little changed overnight after data showed that headline CPI rose above estimates at 0.3% in December, for an annual gain of 3.4%. Asian equities opened marginally higher.

In the previous domestic session, Reliance contributed more than 50 points and helped Nifty 50 hold on to the level of 21,600.

India's GIFT Nifty was trading at 21,720.50 as of 8:18 am, suggesting the NSE Nifty 50 will open near its close of 21,647.20 on January 12.

Meanwhile, Wipro, HDFC Life Pro and HCL Tech will report earnings for the third quarter.

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 11 on a positive note as cues have largely turned positive on both global and domestic front.

Overnight on Wall Street, all the three major indices closed the session near day’s high with gains coming in the range of half a percent to 1%. Major contributors to Dow Jones were stocks like Microsoft, Walmart and Salesforce.

Nifty 50, meanwhile on January 10,  gained more than 70 points of which more than 50 points were contributed by Reliance, which closed at a record high. Despite the surge in market and positive sentiment, it did not reflect in FiI numbers. FIIs were sellers in the cash market and the sell figure was ₹1,700 crore but it was offset by DII, where the buy figure was ₹2,100 crore.

India's GIFT Nifty was trading at 21,730 as of 8:00 am, suggesting the NSE Nifty 50 will open above its close of 21,618.70 on January 10.

TCS and Infosys’ are the key quarterly earnings reports to track 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 10 with minor cuts, following mixed cues from global markets.

On Wall Street, US indices closed near the flat line after a range bound session overnight. Some of the technology stocks helped NASDAQ close in the green while S&P 500 was flat. Dow too saw recovery from day’s low but failed to turn positive. The MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.35% in morning trade, after logging losses in each of the six previous sessions.

Meanwhile, India's GIFT Nifty was trading at 21,573 as of 8:18 a.m. IST, suggesting the NSE Nifty 50 will open near its close of 21,544.85 on January 9.

Among the key stocks to track are Zee Entertainment, Delta Corp, Vedanta, and SpiceJet.

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Indian benchmark indices, Sensex and Nifty 50, are likely to make a gap up opening in the trading session of January 9, a drop in the previous session. This follows a rebound in Asian peers.

In the overnight session, Wall Street equities closed higher overnight. Thanks to the big surge in the tech heavyweights, NASDAQ the tech heavy index surged over 2%, S&P too gained more than 1% though Dow relatively underperformed and closed with a gain of 0.6%.

Following the positive global cues, Gift Nifty indicated a gap up start for the Indian market. India's GIFT Nifty was trading at 21,704.50 as of 8:09 a.m. IST, suggesting the NSE Nifty 50 will open above its close of 21,513.00 on January 8.

Another positive cue for the domestic market is the big fall in crude. Brent saw a fall of over 4% each as demand concerns resurfaced after price cut announcement by Saudi Arabia.

Stocks in focus: Bajaj Auto, Delta Corp, Metropolis

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Indian benchmark indices, Sensex and Nifty 50, are likely to make a muted opening on January 8. The week ahead will see major earnings including Infosys, Tata Consultancy Services (TCS), Wipro, HCLTech and HDFC Life. 

Meanwhile, the GIFT Nifty suggests a flat start for the January 8 session, consolidating from last week. Global markets too consolidated in the previous session. 

Brent crude prices rose over the weekend with the commodity trading near $78.5 per barrel.

Stocks to track in today’s trade include Titan, Bajaj Auto, Tata Steel, Nykaa, Bank of Baroda, Marico, and Adani Wilmar, among others.

Tune in to the Marketbuzz Podcast for more cues

Markets ended 2023 with nine weeks of Street gains, but in the first week of the New Year, we are likely to snap the winning streak.

The Dow Jones and S&P 600, Nasdaq, are all set to end the week with cuts as well.

On Thursday, the Nasdaq continued to witness selling pressure and bore the brunt of the kind of the weakness that has been seen given the fact that some of the heavyweights like Apple have underperformed in 2024.

So far, Apple has seen a couple of analyst downgrades that have come in.

Talking about oil prices, brent futures continued its softness. Yesterday it closed near the $77.5 a barrel mark. Now this was an account of higher crude inventories that were seen in the US markets coming to the Indian market.

Overnight queues are not very confident but Indian markets yesterday managed to outperform. It was a sharp recovery that helped the market.

The realty index was to top gaining sector.  Today, the power sector is in focus.

Asian markets and indicating a mild soft start for our own markets today.

The New Year started off on a slightly softer note after heavy gains witnessed throughout 2023.

Yesterday, the US markets entered the negative territory, NASDAQ down over 1%, and in the red for four straight sessions.

Oil prices last evening rose on increasing worries. As far as the Red Sea is concerned, a lot of tankers continue to remain off the Red Sea route given the fact that there continues to be increased militant attacks.

Brent futures were higher by 3%, WTI futures too were high by 3.5% in the trading session.

The Indian markets yesterday ended in cuts for the second straight day. Nifty 50 however managed to hold on to the 21,500 level in trade. The broader market indices showed relative out performance in the trading session.

IT stocks and metal stocks continued to witness selling pressure through the day.

GIFT Nifty is indicating a slightly muted start. However, it is not showing the kind of weakness that would have been anticipated, given the weak equity handover that we got from global markets.

Asian markets have taken cues from a slightly soft handover from the Wall Street and are witnessing a bit of red. The GIFT Nifty too is indicating a gap down start for the Indian benchmakr indices.

After the heavy gains the markets witnessed in 2023, the markets across the world have started 2023 on a cautious note. US markets, in the previous trade session, were quite mixed, with the Dow Jones ending slightly above the flat line and the NASDAQ fell over 1.6%.

Yesterday, the European markets too were quite muted.

Oil prices fell yesterday despite mounting worries on the Red Sea. In fact, they witnessed a bit of a bump up, but by the end of the session, brent futures fell over 1.5% and WTI Futures were down 1.7%. They now continue to hover around the $70/barrel.

The Indian markets ended with cuts on Tuesday after an extremely volatile session. The Nifty Bank index fell over 500 points and the Nifty IT index was another sector that witnessed a significant pullback from recent highs. The Nifty Farmer index on the other hand was a clear outperformer,

However, FII buying has resumed with over Rs 1,600 crore of buying in the cash market.

Among the key things to watch out for are operational updates by companies such as DMart. The monthly sales volumes of Hero MotoCorp were slightly disappointing, and the markets may react to that..

While several global markets remained closed for the New Year holiday, India saw a different scenario as trading resumed on the first day of the year. The New York Stock Exchange, the US market, European markets, and various Asian markets were still in holiday mode. In contrast, Indian markets opened for the second trading session of 2024.

Despite the early start, market participants noted thin volumes, indicating a cautious approach to the new year's trading. Yesterday, a small sell flow figure was reported, but markets managed to hold on and even made fresh gains.

In 2023, the Indian market witnessed significant milestones, with the Nifty, Nifty Bank, mid-cap index, and small-cap index all reaching record highs. Investors are keenly watching to see how these markets will perform in 2024. Notably, on the first trading day of the year, the Nifty hit a fresh record intraday high. However, the second half of the trading session experienced a notable sell-off, primarily centered around auto stocks.

The auto sector was in focus as December monthly sales volumes trickled in, with tractor sales disappointing overall. This mixed picture led to varied performances across different segments. The telecom sector, with a focus on companies like Idea, continued to move higher, building on the gains made on the last trading day of 2023.

However, the auto sector faced headwinds, with some stocks lagging behind. Analysts suggest that reactions to operational data from companies, particularly in the cement sector, may influence market movements. Investors are advised to keep an eye on how auto stocks respond to market conditions.

Global market indicators are pointing towards a slightly muted start for Indian markets today, with a potential gap down opening. This cautious sentiment aligns with the thin volumes observed in the early hours of trading.