MarketBuzz

Indian benchmark indices — Sensex and Nifty 50 — are likely to make a muted start on August 11, as optimism over moderating U.S. inflation offset near-term domestic price concerns.

India's GIFT Nifty on the NSE International Exchange was up 0.05 percent at 19,550 at 8:15 am.

In the overnight session in the US, Wall Street equities edged higher after data showed that US consumer price inflation moderated in July, bolstering hopes that the US Federal Reserve is near the end of its rate-hiking cycle. Asian markets were subdued.

Back home on August 10, the Reserve Bank of India held key rates steady as expected. Governor Shaktikanta Das said there could be substantial rise in headline inflation in the near-term and raised the retail inflation forecast for fiscal 2024, citing pressure from food prices.

Both the Nifty and Sensex declined on Thursday, dragged by financials and consumer stocks. The bluechips have been little changed for the week, after logging losses in the previous two weeks.

In today's session, Hero MotoCorp is likely to be in focus as the two-wheeler maker posted a rise in June quarter profit and is eyeing more premium bike launches.

State-owned life insurer Life Insurance Corporation of India (LIC) also reported a surge in first-quarter profit on the transfer of money to a shareholders' fund.

Apollo Tyres' June quarter profit more than doubled on lower costs while Steel Authority of India posted a fall in first-quarter profit on rising costs.

Tune in to the Marketbuzz Podcast for more cues ahead of today’s session

The markets staged a smart recovery in the last hour of trade on Wednesday and the Nifty 50 managed to reclaim 19,600. 

The Nifty gained around 61-odd points, the Nifty Bank slipped, but the midcap index gained. 

Foreign institutional investors (FIIs) bought after nine consecutive sessions of selling, which is definitely a positive. FIIs net bought around Rs 644 crore in the cash market on Wednesday, while domestic institutional investors (DIIs) net sold close to around Rs 600-odd crore. 

The US markets were definitely weak, so we had the US markets correct. The CPI as well as the initial jobless claims would be two key factors that the Street would be watching out for closely.

Asian stocks are lower ahead of the inflation data. Crude has hit the highest level that we have seen since January 27. So the Street will be waiting by for trends on brent crude. 

The GIFT Nifty is implying a weak start to today's trading session.  It's definitely going to be the Reserve Bank of India (RBI) policy where rates are expected to be held steady, but do watch out for the commentary from the RBI governor.

Today is also the weekly options expiry. And earnings from Hero MotoCorp, Biocon, Alchem Pharma, Pidilite, are expected today. 

Tune in to Marketbuzz Podcast for more cues ahead of today’s session

Marketbuzz Podcast with Ekta Batra: Sensex and Nifty 50 likely to open marginally higher

Indian benchmark indices — Sensex and Nifty 50 — are likely to open marginally higher on August 9 after China's consumer prices logged a smaller-than-expected fall in July, ahead of U.S. inflation data and Reserve Bank of India's (RBI) policy decision due this week.

The Indian rupee is expected to struggle at the opening on Wednesday in the wake of the dollar index's move higher on weak risk appetite.

The US markets closed lower in the overnight session, with concerns about bank stability capping sentiment. Asian shares were on the defensive after China inflation data confirmed the recovery in the world's second-biggest economy is losing steam.

The GIFT Nifty was indicating an implied open off a little bit of a negative bias for the Indian market.

Brent is at around $86 per barrel.

The markets are likely to now focus on the macros versus micros as the earning season is coming to a close.

The US CPI data for July is due to be released on Thursday while India’s Reserve Bank of India (RBI) will make the bi-monthly policy announcement on the same day and is likely to hold the current interest rates.

Among quarterly results due today are that of Tata Power, Zee Entertainment Enterprises, Abbott India, Berger Paints India, and Bharat Forge among others.

Tune in to the Marketbuzz Podcast for more news and cues ahead of today’s session

The Nifty 50 and Sensex on Monday, were higher, but the Nifty bank slipped, while the midcap index rose. It was largely a mixed session, but both benchmark indices did build on Friday's gains.

Today, one key factor to watch out for is the foreign institutional investor (FII) flows. FIIs have net sold for eight consecutive sessions since July 27. On Monday, they net sold around Rs 1,893 crore and they have net sold around Rs 10,000 crore in these eight sessions.

Global markets on the other hand are witnessing some recovery. The US markets snapped their four-day losing streak on Monday.

The CPI data on Thursday for July is going to be the next cue to watch out for. CPI inflation is estimated to come in around 3.3 percent.

Asian stocks are mixed in today's trade, ahead of the Chinese trade data. Crude prices have come off, which is a positive for the Indian markets. However, the GIFT Nifty is indicating a bit of a lower start.

Watch out for the bank Nifty, whether or not it underperform's in today's trading session, the midcaps which have been outperforming a lot, a lot of farmer stocks that will be in focus today due to their earnings and new-age stocks such as PayTm and Zomato, which witnessed a lot of volume and price action yesterday.

Hindalco, Coal India, among others are expected to deliver their quarterly earnings reports today.

The three-day MPC meeting for the RBI policy will kick-off today and the outcome will be known on Thursday.

Tune in to Marketbuzz Podcast for more cues ahead of today’s session

Indian benchmark indices — Sensex and Nifty 50 —  are set for a muted start on August 7, tracking Asian peers, on caution ahead of US and China inflation data as well as the Reserve Bank of India's monetary policy decision due later this week.

India's GIFT Nifty on the NSE International Exchange was up 0.09 percent at 19,607.50, as of 7:56 am.

On Friday, the market snapped its three day losing streak, however, the markets were down for the second straight week.

One of the key cues to watch out for is the FII net selling in the cash market. FIIs have net sold for the seven consecutive sessions.

Meanwhile, the global markets looked a bit tentative. The US jobs data 187,000 jobs added in July versus estimates of 200,000 oil has risen for the sixth straight week.

There is some amount of upmove taking place in terms of oil prices. It must be noted that India is a net importer of oil and hence higher oil prices is a negative for us.

Asian markets were largely mixed, with the GIFT Nifty indicating a marginally higher start for India.

The Street will also track moves in the State Bank of India (SBI) stock, which posted its results on Friday.

Also, the Reserve Bank of India will also announce its policy decision on Thursday. The central bank kept rates unchanged in April and June, after hiking them by 250 basis points in the fiscal 2023.

Tune in to the Marketbuzz Podcast for more cues ahead of today’s session

Indian shares are set to open marginally higher on August 4, tracking Asian peers on hopes of measures to support economic recovery in China. GIFT Nifty on the NSE International Exchange was up 0.16 percent at 19,483, as of 8:13 am IST.

Both the Nifty 50 and Sensex slid two percent each over the last two sessions as Fitch's downgrade of the United States' credit rating dampened sentiment.

In terms of the US markets, big tech numbers continued to be in focus. Amazon gained post numbers while Apple lost around two percent.

The big cue today is the US jobs data that is due today. Estimates suggest 200,000 jobs were likely added in July, which would be the smallest rise estimated since December 2020 Asia is currently mixed.

Back home, banks will be in focus. The State Bank of India will release its numbers along with the likes of M&M and Britannia. SBI will probably set the tone for bank numbers due tomorrow.

Tune in to Marketbuzz Podcast for more cues ahead of today’s session 

There has been a significant sell off overnight as far as global equity markets are concerned. 

Day before yesterday, post equity market closing, rating agency Fitch downgraded its rating on the US market. Equity markets across the globe saw a risk of sell off and this is also weighing in on the market sentiment today morning.

On Wednesday, Dow Jones was down almost 1 percent, while S&P 500 was down 1.4 percnet. And Nasdaq was facing the brunt of the selling pressure, with it ending down over 2 percent in yesterday's trading session. 

European markets too closed 1.4 percent to 1.8 percent lower as the sell off widened to Europe as well. 

Crude oil prices until Wednesday were trading near three-month highs. However, in yesterday's trading session, they witnessed a bit of a sell off. Brent futures fell over 2 percent to $83 a barrel, WTI future is now below the $80 a barrel mark. 

Indian markets too witnessed selling pressure on Wednesday, ending the session lower. Most of the indexes were down more than a percent. However,t he only respite was that in the last hour of trading, there was a brief bounce coming in the equity markets.  

Today, there are a lot of important tools to keep track of. Morgan Stanley has upgraded its rating on India to 'overweight'. 

Asian markets are indicating a gash and even the GIFT Nifty is indicating a gap down start. 

 Tune in to Marketbuzz Podcast for more cues ahead of today’s trading session

There has been a siginificant development overnight that will keep equity and markets on edge throughout today's trading session. Rating agency Fitch has downgraded the US long-term rating to an AA plus from an AAA stance that they had earlier. And as far a the US finances are concerned, they have highlighted that there is a deterioration. 

They have also called off significant risks that the US economy could face. 

Most of Asian markets today are trading in the red and even the GIFT Nifty is indicating a subdued start as far as our own markets are concerned. 

US markets yesterday ended on a mix closed. The Nasdaq cooled off almost half a percent and Dow Jones was the only index that saw a bit of green. 

Crude oil prices continue to remain the joker in the pack, given the fact some profit booking was witnessed from three month high levels. However, today morning, once again, crude oil futures continued their surge upwards.

Indian markets on Tuesday ended the session with minor cuts. The one particular pocket or segment of the market that continues to outperform has been the PSU pack, when you're talking about names like Coal India, NTPC, a lot of power stocks, a lot of PSU stocks, you know where the shareholding of which the government has a significant stake, has seen a significant re-rating and that trend continued yesterday. 

Titan, Mankind Pharma, Hindustan Petroleum, are expected to deliver their earnings today. 

Tune in to Marketbuzz Podcast for more cues ahead of today’s trading session

We are starting August on a positive note, given that global markets have now rebounded very sharply from the 2023 lows. 

Most global equity markets managed to end July with strong gains. US indices too ended July with strong gains on Monday. When it comes to the US markets, the outperformance of midc and smallcap index has been quite stark. For instance, the smallcap index Russell 2000 ended July with more than 6 percent gains, indicating sharp outperformance against a benchmarking index.

European markets too are along a similar trajectory, with largely positive cues. 

However, crude oil prices remain the joker in the pack, as they have gained further traction and are now trading near fresh three-month highs. Brent futures are up by over 1.2 percent to $85.4 a barrel, while WTI futures are up 1.5 percent to $81.8 a barrel.

The rising crude oil prices have gone ahead and forced the government to increase the windfall tax as far as oil refineries are concerned.

On another note, Indian markets ended a rangebound session with marginal gains on Monday. However, the story continues to remain that the broader end of the markets are relative to outperformers, with the midcap index at a fresh record level. 

Escorts Kubota, PVR Inox, Thermax will be delivering their quarterly results today. Most auto maker are also expected to report their sales data today.

Asian markets as well as the GIFT Nifty are indicating a positive start to our own markets for today';s trading session. 

Tune in to Marketbuzz Podcast for more cues ahead of today’s trading session

We are starting the week with positive cues as far as the global markets are concerned. Equity markets have continued to remain quite resilient despite all the worries.

Cues from global markets were very strong on Friday, with Nasdaq up almost 2 percent. However, in the Indian markets, the joker in the pack continued to emain crude oil prices, which gained further traction. Both benchmark titles, WTI and brent crude futures, have now seen five straight weekly gains, which continues to put pressure as far as Indian markets are concerned.

Last week, Indian markets witnessed profit booking from higher levels, especially financials and IT, who were among the laggards in the week gone by. Our broader markets continue to stay relative outperformers.

On Friday, IT and financial stocks witness selling pressure, with Infosys, TCS were among the top laggards. Indian markets snapped their four-week gaining streak.

Going forward, it will be important to see how exactly do foreign institutional investors (FIIs) position themselves in the Indian markets. FII flows continue to remain a key monitorable, given the fact that the Indan markets rally was aided by strong FII inflows.

This week, we will see over 350 companies declaring their first quarter results. The key results today include Maruti Suzuki, Power Grid, UPL, GAIL. In IPOs too, the primary market activity is quite strong. We will see two mainstream IPOs — SBFC Finance looking to mop up over Rs 1,000 crore and Concord Biotech looking to raise almost Rs 1,600 crore.

Three SME IPOs too are in the pipeline for the primary and secondary market activity.

Markets will take direction from the first quarter earnings as well as fund flow activity for this week as well.