MarketBuzz

Indian benchmark indices — Sensex and Nifty 50 — are likely to make a positive start on August 28, ahead of the Reliance Industries annual general meeting due later in the day.

The GIFT Nifty suggests a start with a gain of about 60 odd points for the Nifty 50 index on the back of positive global cues. 

US markets ended with gains on Friday with frontline indices climbed up to 0.9 percent. Nasdaq and S&P snapped their losing streak while the Dow and Jones.

Asian shares rallied on Monday as China announced new measures to support its ailing markets, though the mood was cautious ahead of readings on U.S. jobs and inflation that could decide whether interest rates have to rise again.

Oil prices drew some support from a sharp rise in US diesel prices, though concerns about Chinese demand remains a drag. Brent edged up 22 cents to $84.70 a barrel, while US crude rose 21 cents to $80.04 per barrel.

Meanwhile, last week, Federal Reserve Chair Jerome Powell said the US economy could require further interest rate increases.

The big thing to track today is Reliance Industries’ AGM, which begins at 2pm today.

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Today, we are looking at a very subdued set of cues form overnight markets. Dow Jones witnessed the worst session yesterday since March 2023. Markets are on tenterhooks ahead of US Fed Chair Jerome Powell's speech at the Jackson Hole symposium later today.

Crude futures, crude oil prices continued on their downward trend. Yesterday ended flat with a negative bias with brent futures ending close to the $83 a barrel mark

Indian markets on Thursday, being the weekly expiry, witnessed sharp selling pressure in the second half, with both Nifty and Nifty Bank giving up over a percent from their intre-day highs.

The broader end of the markets continued their outperformance, with the midcap index continuing near its the lifetime high levels. Yesterday's session was however largely dominated by large block deals that happened -- Coforge, Mannnapurram Finance, etc. 

The trend is set to continue today as well with large blocks expected in Amber Enterprises and also in auto-anciallary company Uno Minda. 

Primary market activity too is quite hectic with Aerospace Industries oversubscribed over 97 times at the end of day three. Vishnu Prakash, which is an infrastructure EPC company, also witnessed an oversubscription of over 3.7 times.

Asian markets as well as GIFT Nifty are indicating a gap down start for our own markets.

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Indian benchmark indices — Sensex and Nifty 50 — are likely to start August 24 trading session marginally higher.

As the Jackson Hole Symposium begins today in the US, all eyes will be on Fed Chairman Powell's remarks on inflation and rate hike trajectory projection.

In the overnight session on Wall Street, the tech-heavy NASDAQ index continued its upmove for the third trade session. Dow and Jones and S&P 500 also ended in the green.

Crude oil prices continued to witness selling pressure. Brent futures fell lower by almost one percent to the $83.2 a barrel mark.

In the domestic session yesterday, the Nifty 50 as well as the Sensex ended with a positive bias with the Nifty defending the crucial 19,400 level. Financial stocks outperformed. The midcap index yesterday too hit a fresh lifetime high.

The other important set of stocks that rallied yesterday were names that were linked to the Chandrayaan-3 mission after the successful landing of the Vikram Lander. These stocks will be in focus today as well.

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Indian benchmark indices — Sensex and Nifty 50 — are likely headed for a subdued start on August 23 following weak overnight cues from the US and Europe markets. Traders also await the Reserve Bank of India's (RBI) policy meeting minutes and a key global central bankers' gathering.

India's GIFT Nifty on the NSE International Exchange was up 0.24 percent at 19,360.50 at 8:19 am.

The US indices continued a downward trend with banking stocks on Wall Street witnessing weakness as rating cuts continued. The Dow and Jones ended half a percent lower while the tech-heavy NASDAQ index managed to eke out a very minor gain.

Crude oil prices saw a sell-off and the futures ended lower below the $80 a barrel mark. Brent futures went lower by half a percent to the $84 a barrel mark.

Asian shares held tight ranges this morning, as investors awaited results from Nvidia to see if the sector's lofty valuations can withstand a jump in bond yields, while still gloomy factory readings from Japan left sentiment fragile.

In the domestic market yesterday, the benchmark indices were largely flat in a range-bound trading session, ending on a positive note but the action continued in the midcap and small-cap indices. The midcap index hit a fresh record high in yesterday's trading session, clearly indicating the strength in the broader end of the markets.

Meanwhile, TVS Supply Chain IPO is set for its debut today.

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Indian benchmark indices — Sensex and Nifty 50 — are set for a muted open on August 22, on risk aversion due to persistent concerns over the health of China's economy and US interest rates.

India's GIFT Nifty on the NSE International Exchange was up 0.03 percent at 19,395 at 8:05 am.

In the previous session, Nifty 50 and Sensex rose as a rebound in information technology (IT) and financial stocks outweighed a slide in Reliance Industries following spin-off Jio Financial's lukewarm market debut.

In the overnight session in the US market, NASDAQ rallied close to about a percent and a half. This is despite an absolutely flat closing. The Dow and Jones closed in the red. Meanwhile, pessimism about the Chinese economic outlook continues to weigh on the market.

The focus is now on the Jackson Hole symposium as Fed Chair Jerome Powell is going to deliver a speech on August 25. The Indian markets will only react to this over the weekend and in the week that follows.

Meanwhile, domestic investors also await the minutes of the latest monetary policy meeting of the Reserve Bank of India, due on August 24.

Among the stocks to watch are Adani Enterprises, Welspun Enterprises, Tata Power and Brigade Enterprises.

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The GIFT Nifty is suggesting that the market it going to witness a muted start. The have been consolidating for a while. last week as well, 

Last week as well, the Nifty lost about 0.6-0.7 percent close for the week, which we've been broadly consolidating.

There are a few important levels to track. All the way down, it will be the 50-day exponential moving average (EMA), which stands at 19,265. On the way up, the recent swing high of 19,482. Broadly, these would be two important markers that we will be tracking. 

From our all-time high levels, the Nifty lost about 3.4 percent, while the Sensex was down 3.9 percent last week.

Last week, the US markets ended with considerable weakness — 2-2.5 percent gone on the key indices. The S&P 500 noted its third-straight week of losses. 

The focus will now be on US Fed Chair Jerome Powell's speech at the Jackson Hole symposium on August 25. 

The flows on Friday were fairly mixed. The foreign institutional investors (FIIs) sold Rs 266 crore, while the domestic institutional investors (DIIs) net bought Rs 340 crore. 

The key stocks to watch today are Jio Financial Serices, which is going to list on the stock exchanges at 10am. The price discovery pegged the price at Rs 261 per share. But the actual listing and the kind of demand we will know at 10am. On August 23, it also gets added to the MSCI index. 

Titan is the other stock to watch. They will be acquiring an additional 27.2 percent stake in CaratLane for Rs 4,621 crore. Titan alread had a 71.1 percent stake. So, with this additional 27.2 percent stake, Titan's stake in CaratLane will now be 98.28 percent. And the deal values CaratLane at Rs 17,000 crore.

Gujarat Gas has hiked its industrial gas prices by around 6 percent. This is the first price hike after five consecutive price cuts by it in 2023.

KEC International has won new orders worth Rs 1,007 crore. Vodafone Idea had a contract with Tanla Platforms for the SMS — application to payer. This contract expires on November 2023. Vodafone Idea has indicated that they will not be renewing the contract. So there is going to be a loss of revenue to Tanla Platforms and this contract instead has been awarded to Route Mobile.

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Indian benchmark indices — Sensex and Nifty 50 — are likely headed for a flat start on August 18 after US equities declined on rate concerns and choppiness in Asian equities on deflation and demand worries in China.

India's GIFT Nifty on the NSE International Exchange was up 0.13 percent at 19,309 at 8:01 am.

On Thursday, Nifty 50 and Sensex fell on Thursday, dragged by information technology (IT) stocks. The bluechips are down over 0.25 percent each this week so far as the equity risk has continued for this third trade session. The Nifty ended below the crucial 19,400 mark.

Overnight on Wall Street, the Dow Jones closed lower by nearly 300 points and the NASDAQ was the most impacted, losing over 1.2 percent in yesterday's trading session.

Asian market cues were also subdued this morning.

Among stocks to watch are Punjab National Bank, Shriram Finance, Trent, TVS Motor, Zydus Lifesciences as these firms are to be included in Nifty Next 50, with effect from September 29.

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Indian equity benchmarks — Sensex and Nifty 50 — are set to open little changed on August 17, tracking a weakness in Asian peers on worries over China's economy and Wall Street on interest rate concerns.

India's GIFT Nifty on the NSE International Exchange was down 0.07 percent at 19,398.50 at 7:54 am.

The Indian markets yesterday displayed remarkable resilience given the market saw a very sharp recovery in the second half of the trading session. Metal stocks, however, underperformed as the rising dollar index weighed in. Banking stocks too saw selling pressure.

In the overnight session, US markets saw significant selling pressure on the back of FOMC minutes that indicate further rate hikes cannot be ruled out. The NASDAQ bore the brunt of the selling pressure, and ended over a percent lower in yesterday's trading session. This morning, US futures too indicated further downside pressure.

Meanwhile, European markets closed mixed.

Crude oil prices continue to see selling pressure for the fourth trade session today on the back of weakening data from China as well as further rate hike pressure from the US.

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Indian benchmark indices — Sensex and Nifty 50 — are likely to open lower on August 16 following a sharp rise in July domestic inflation.

India's GIFT Nifty on the NSE International Exchange was down 0.40 percent at 19,396 at 7:59 am.

Nifty 50 is likely to open closer to 19,350 mark. The key level to watch will be the Monday intraday low of 19,257, which coincides with the 50-day moving average of 19,258.

Retail inflation rose to a 15-month high of 7.44 percent in July, predominantly due to rising vegetable and cereals prices also dragged sentiment. The figures breached the upper end of the Reserve Bank of India's tolerance band of 2-6 percent for the first time in five months.

In the ongoing July-September quarter, the RBI now sees inflation at 6.2 percent, significantly higher than the earlier forecast of 5.2 percent.

Meanwhile, Wall Street equities fell overnight after stronger-than-expected retail sales data triggered concerns. Asian markets declined this morning on worries over China's economic recovery a day after the country's central bank unexpectedly cut rates for the second time in three months.

Some of the stocks to watch out for include ITC which saw its June quarter profit top estimates on lower costs and better demand. Infosys has signed a $1.64 billion deal with video, broadband, and communications firm Liberty Global to scale digital platforms.

Vodafone Idea has secured $240 million to meet payment obligations and has reported a wider June quarter loss on weak 4G subscriber growth.

Ashok Leyland has also received board approval to buy a 100 percent stake in OHM Global Mobility, and has said it will invest Rs 3 billion as equity into OHM to operationalise the company.

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Indian benchmark indices — Sensex and Nifty 50 — are on August 14 expected to start on a slightly weaker note in the holiday-truncated week as earnings season draws to a close, ahead of domestic retail inflation data due later in the day.

India's GIFT Nifty on the NSE International Exchange was down 0.28 percent at 19,432 at 7:58 am.

Corporate earnings season will likely end on Monday, with consumer giant ITC and telecom service provider Vodafone Idea among hundreds of companies scheduled to report quarterly results.

In today’s session, market participants will also track the CPI inflation data and minutes of the US FOMC meeting.

In the previous session Friday, the benchmark Nifty 50 settled 0.59 percent lower at 19,428.30, while the S&P BSE Sensex settled 0.56 percent lower at 65,322.65. The Nifty 50 fell 0.45 percent last week, logging losses for the third week in a row.

Indian markets will be closed on August 15 for Independence Day celebrations.

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