MarketBuzz

Indian benchmark indices — Sensex and Nifty 50 — are likely to open lower in the trading session on September 26, amid continuous foreign outflows from the domestic market while the global sentiment is subdued.

India's GIFT Nifty was down 0.4 percent at 19,655 points at 7:53 am on the NSE International Exchange.

On September 25, the Nifty 50 and the S&P BSE Sensex closed mostly unchanged at 19,674.55 points, and 65,958 points, respectively. The benchmarks have fallen nearly 3 percent after hitting all-time highs in mid-September.

On September 25, foreign institutional investors sold Rs 2,300 crore worth of shares, while domestic investors bought Rs 1,580 crore worth of shares, as per provisional exchange data.

In terms of the larger picture, there is some optimism with the inclusion of India's bonds in JP Morgan’s EM index. Jamie Diamond, for instance, has said it will enable additional foreign inflow of around $25 billion overnight.

Meanwhile, the US markets closed higher in the overnight session. Asian markets were largely mixed this morning. Brent crude was hovering at around $93 per barrel.

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Indian benchmark indices — Sensex and Nifty 50 — are likely to make a muted opening on September 25, after declining for the fourth straight day on September 22. This comes amid fears that global interest rates will remain higher for longer.

India's GIFT Nifty was up 0.25 percent to 19,692 points at 7:53 am on the NSE International Exchange.

Last week was the worst for the Sensex since June 2022 as the index witnessed a drop of 2.7
percent. Meanwhile, the Nifty 50 index recorded its worst week since February.

Shares of casino operator Delta Corp will be among those in focus today as the company on September 21 said it has received a notice to pay taxes worth Rs 111.4 billion along with interest and penalty for the period between July 2017 to March 2022.

PSU banks have remained resilient, despite the overall decline. Investors will eye the possibility of any further buying within this space.

Meanwhile, JP Morgan will add Indian bonds to its market debt index, it remains to be seen whether that will spark more movement in the market.

Any developments in India-Canada relations will also be keenly watched.

Globally, while US markets closed lower on September 22, Asian markets this morning were largely mixed, with the GIFT Nifty indicating a softer start for the Indian market.

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Indian benchmark indices — Sensex and Nifty 50 — are likely to open marginally higher on September 22, Friday, with IT stock Wipro and banks in focus.

All eyes will be on banking stocks as JPMorgan has said it will add Indian bonds to its Emerging Markets (EM) Debt Index. India will have a weightage of 10 percent in the index. The inclusion will be staggered over a 10-month period starting June 2024.

Against this backdrop, bond deals and rupee will be in focus as active fund managers will begin to position themselves ahead of this inclusion of the Indian government bonds to the benchmark index.

There has been a lackluster handover from the US markets that saw the biggest drop in six months. The NASDAQ index fell 100 points, close to two percent, in the trading session.

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Indian benchmark indices — Sensex and Nifty 50 — are likely to open lower on September 21, Thursday, after the US Federal Reserve indicated it expected interest rates to remain higher for longer.

The Federal Reserve on September 20 held interest rates steady but stiffened its hawkish stance with a further rate increase projected by the end of the year.

The development in the US has left equity markets reeling under selling pressure. In the overnight session on Wall Street, the Dow Jones index ended 0.2 percent lower, S&P declined almost a percent while the tech-heavy Nasdaq index closed 1.5 percent lower.

Asian stock markets took a hit as investors exited riskier assets to take refuge in the safe-haven greenback after the US central bank struck a hawkish tone.

Meanwhile, Wednesday's trading session saw oil prices cool off from the recent peak. Oil prices have now hit a one-week low with futures hovering around the $90 a barrel mark.

Back home in the Indian market, Nifty 50 ended below the 20,000 level on September 20.

Heavyweight stock HDFC Bank was one of the top drags on the back of analysts cutting their estimates for the bank's earnings following an analyst meet.

Stocks to Watch: Fino Payments, Cipla, Biocon, Adani Green Energy, Coal India

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Indian benchmark indices — Sensex and Nifty 50 — are likely to open lower on September 20, Wednesday, tracking global cues. GIFT Nifty was trading at a discount of nearly 100 points from Nifty Futures Monday close, indicating a gap-down start, which indicates the domestic market.

In early trade, Asian stocks struggled for headway while 10-year US Treasury yields stood at 16-year highs as surging oil prices drove inflation. In the overnight session, meanwhile, equities on Wall Street closed lower.

It must be noted that Indian markets will react to two days of global cues from Monday as well as Tuesday. In two days, US’ Dow and Jones has lost a percent and the S and P 500 has slipped a percent while the tech heavy NASDAQ has declined by 1.8 percent.

Crude prices hit a high of $95.96 per barrel yesterday and settled below 95 on the count of profit booking, but it's still at a 10-month high, which is a bit of a worry.

Among other global cues to track is the Fed decision, due later in the day, which will be crucial. It is likely that there will be no rate change policy this time but the commentary will be very important.

In the domestic market, bank stocks will be in focus, especially HDFC Bank. The Reserve Bank of India (RBI) has approved the reappointment of Sashidhar Jagdishan as MD and CEO of the lender till October 26, 2026. The firm also held an analysts meet on Friday where it indicated that HDFC’s individual gross NPA ratio stood at 1 percent for the June quarter compared to 0.75 percent in March, while non-individual gross NPA ratio saw a sharp spike from 2.9 percent in March to 6.7 percent in June.

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Indian benchmark indices — Sensex and Nifty 50 — are likely to begin the September 18 session on a cautious note, days after economic data from China. Investors will also look forward to the US Federal Reserve's policy meeting due this week.

India's GIFT Nifty on the NSE International Exchange was up 0.1 percent to 20,186.5 by 7:55 am.

The Nifty 50 and Sensex gained nearly two percent each last week and are expected to continue their stellar run.

Separately, foreign investors bought Rs 1.64 billion worth of shares on a net basis on Friday, while their domestic peers bought Rs 19.39 billion worth of equity, according to stock exchange data.

Meanwhile, Asian stock markets fell in early trade today as China's key property sector continued to remain under stress despite positive data from the country showing signs of stabilisation.

Stocks to watch: Bharat Electronics, Axis Bank, HFCL Ltd, Tata Steel, Dhanlaxmi Bank, Vodafone Idea.

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Indian benchmark indices — Sensex and Nifty 50 — are set to open higher on Friday, September 15, tracking Asian peers, as stronger-than-expected macroeconomic data from China and easing US rate concerns aided sentiment.

India's GIFT Nifty on the NSE International Exchange was up 0.10 percent at 20,238.50 at 8:00 am.

Asian equities rose this morning after data showed that August industrial output and retail sales growth in China beat expectations. Wall Street equities closed higher overnight, on rising expectations of a US Federal Reserve rate pause in its upcoming policy meeting on September 20.

The only two macro headwinds are rising crude prices with Brent having crossed $94 per barrel and the other one is dollar index, which has increased to levels above 105. It's negative for emerging markets and high-yield assets like India in terms of flows.

NTPC, Bharat Forge, Infosys, and Lemon Hotels are some of the stocks to watch in today's trade.

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Indian benchmark indices — Sensex and Nifty 50 — are set to open higher on Thursday, September 14, day after the US inflation data indicated the likelihood of a pause in the rate hike cycle by the Federal Reserve later this month.

India's GIFT Nifty on the NSE International Exchange was up 0.16 percent at 20,178 at 7:57 am IST.

In the overnight US market session, Dow Jones saw selling pressure towards the end while S and P 500 and NASDAQ managed to close about the green line.

The key trigger and key commodity to track is oil prices that cooled off marginally yesterday. But now they continue to trend near a 10-month high futures, trading closer to the $89 a barrel mark while Brent futures trade closer to the $92 a barrel mark.

Back home, the primary market activity in India continued to remain buoyant.

Two new IPOs —  Zaggle Prepaid Ocean Services IPO and Samhi Hotels IPO — open for subscription today.

Tune in to Marketbuzz Podcast for more news and cues 

Indian shares were set to open higher on Wednesday, with the benchmark Nifty 50 and Sensex hovering around record highs after data showed retail inflation eased and industrial output rose.

India's GIFT Nifty on the NSE International Exchange was up 0.22 percent at 20,073.50 at 7:51 am. 

The benchmark Nifty 50 and the S&P BSE Sensex closed little changed in a volatile session on Tuesday.

Data released after the bell showed that India's retail inflation eased in August to 6.83 percent but still above the upper end of the Reserve Bank of India's two percent to six percent target range, aided by a moderation in food prices.

The Indian market has been trending near lifetime high levels comfortably about the 20,000 mark and the mid cap and small cap indices were at lifetime highs.

However, in a single trading session, what's actually happened is that there has been quite a steep sell off, also aided by worries that a certain hedge fund portfolio got liquidated in yesterday's trading session. However, FII data indicate that there isn't too much to panic.

In the US markets overnight, all the major industries posted losses with the tech-heavy NASDAQ taking the brunt of the selling pressure given that Apple shares saw sell-off post the launch event.

Brent futures were higher by 1.6 percent and were closer to the $92 a barrel mark. Oil prices continue to trend higher on the back of OPEC maintaining robust demand guidance.

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Indian benchmark indices — Sensex and Nifty 50 — were set to open little changed on September 12, a day after Nifty 50 hit a record high in the previous session, ahead of retail inflation data for August.

India's GIFT Nifty on the NSE International Exchange was up 0.06 percent at 20,130.50 at 8:07 am.

Nifty 50 and the S&P BSE Sensex rose in the last seven sessions, adding 3.86 percent and 3.54 percent, respectively, after data showed that India's economy expanded at the fastest pace in a year in the June quarter. The Nifty 50 breached the 20,000 mark for the first time ever on Monday, hitting a fresh record. The Sensex settled 500 points away from the record high hit on July 20.

Yesterday was a very good day for equity markets worldwide with all of the US indices ending higher with NASDAQ gaining over a percent. Oil prices yesterday were largely flat with futures trending closer to the $87 a barrel mark. While Brent futures now continue to hover slightly about the $90 a barrel mark in the trading session.

Meanwhile, July industrial production data and CPI data will come out today. Also, the IPO of TPG Capital-backed RR Kabel is also set to open for subscription today.

It remains to be seen how much further the markets move higher and whether 20,000 can be maintained on a sustainable basis.

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