MarketBuzz

The markets witnessed a rough ride on the F&O series expiry day on Thursday, however the June expiry itself was a positive close. The Sensex fell around 40-odd points, Nifty 50 corrected over 100-odd points, the Nifty Bank index fell near 1 percent, while the midcap index outperformed and ended in the green.

Foreign institutional investors (FIIs) net sold a large amount in Thursday's trading session and domestic institutional investors (DIIs) net bought over Rs 2,500-odd crore.

The US markets ended lower. The Dow Jones snapped its 13-day rally. The strong Meta earnings and strong GDP numbers did not seem to enthuse the markets on Thursday.

When it comes to the European markets, the ECB also hiked its rates, joining the US Fed in terms of central bank action this week. Asia is largely weak at the moment, when it comes to hiking rates. The Bank of Japan meet is in focus because there could be a discussion on long-term rates, which will be watched quite closely.

The brent crude is another factor to watch out for. There has been a spike up in brent crude prices. Crude oil prices are now headed for a 5 percent weekly gain.

For the Indian markets, the GIFT Nifty is indicating a weak start. There are many earnings to watch out for as well, especially from the broader markets —Bank of India, IOC, M&M Finance, Marico, United Breweries to name a few. Stock specific action will continue to be in focus and the Bank of Japan meet will be watched quite closely.

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

Indian benchmark indices — Sensex and Nifty 50 — are set to open marginally higher on July 27 after the US Federal Reserve hiked rates by 25 basis points as expected and reiterated its data-dependent approach to further policy tightening.

India's GIFT Nifty on the NSE International Exchange was up 0.10 percent at 20,004 as of 8:12 am.

Asian markets are holding up in the green despite the flat close on Wall Street in the overnight session. The United States Federal Reserve has hiked rates by 25 basis points and unexpectedly, it has kept the door open for future rate hikes as well. The next one will likely be in September.

Meanwhile, back home in the Indian market, after three days of consolidation, yesterdayNifty 50 went very close to the 19,800 mark. There was some activity on the front line aided by stocks like Reliance Industries, L&T, ITC, and Tata Motors.

The third cue is that the July expiry is today which the market participants will closely watch.

Today’s session is likely going to be all about individual stocks. Axis Bank's bottom line looked ahead of what the Street was anticipating, but the core operating profit came in lower than projections and worse compared to other peers like ICICI Bank and Kotak Mahindra Bank.

Dr. Reddys reported a pretty decent set of numbers, so the stock is likely to witness a stock reaction. Tech Mahindra was a big miss with revenue falling by more than 4 percent on a quarter on quarter basis, EBIT margin down to 6.8 percent, which is the lowest amongst the peers.  Colgate saw a good set of numbers with an all round beat.

Market watchers must also keep an eye out on RBL Bank because Mahindra and Mahindra says it has acquired a 3.53 percent stake in the company and is open to acquiring more but under no circumstances will it cross 9.9 percent.

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

Indian benchmark indices — Sensex and Nifty 50 are likely to open marginally higher on July 26, ahead of the US Federal Reserve's monetary policy decision and key corporate earnings.
India's GIFT Nifty on the NSE International Exchange was up 0.13 percent at 19,882 as of 8:02 am.

On July 25, the Nifty 50 consolidated closed with minor gains. The blue chip index has overall corrected from the high of 19,992 on July 20 due to factors such as mixed corporate numbers and uncertainty ahead of the Fed Meet.

As few analysts opine that India's result season has been a little disappointing, there might be some consolidation, one of the cues that might help the Nifty 50 resume.

In terms of the overall global cues, the Fed continued to be in focus with US markets closing higher. Alphabet and Microsoft reported their earnings for the June 2023 quarter. Meanwhile, Asia is largely lower ahead of the Fed decision.

Back home, stock-specific action continued. L&T met earnings estimates and also announced Rs 10,000 crore share buyback. Tata Motors shares recorded a 41 percent jump in revenue. The automaker announced a conversion of DVR shares to ordinary.

On the macro front, the International Monetary Fund (IMF) has revised India's FY24 GDP growth forecast to 6.1 percent, which is 20 basis points higher than the April estimate.

Overall, the big cues to watch out for would be earnings, the Fed meeting and also expiry due this week.

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

It was a choppy start to the week on Monday, with the markets ending largely lower in what was a muted session.

The Nifty breached 19,700, the Nifty Bank slipped and the midcap index ended over 50 points lower. Foreign institutional investors (FIIs) net sold for the second consecutive day, but it was a marginal sell figure which came in from the high to around Rs 83-odd crore. Domestic institutional investors (DIIs) however bought handsomely.

Earnings and global cues continue to be top of mind in terms of market cues to watch out for. The last couple of trading sessions have reacted to the earnings of HUL, Infosys, Kotak Mahindra Bank and Reliance Industries.

In terms of result reactions today, Tata Steel, Shoppers Stop, JK  Paper stocks are to be watched out for. We also have Asian Paints, Bajaj Auto that will be releasing numbers today as well.

Global cues seem quite supportive. The Dow Jones rallied for the 11th-straight day. Asia is in focus because China has vowed to support the property market.  Crude oil is higher on tighter supply as well as China hopes. Do watch out for brent crude.

The GIFT Nifty is indicating a bit of a positive start aided by the global queues.

We have the FED. ECB and Bank of Japan meets will happen this week. The US Fed meet is probably going to be the most important when it comes to global cues in the next couple of days. Hence, do watch out for any kind of movements in the global market ahead of that.

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

Indian benchmark indices — Sensex and Nifty 50 — are set to open lower on July 24, tracking Asian peers, amid caution ahead of key corporate earnings and central bank meetings due later this week.

India's GIFT Nifty on the NSE International Exchange was down 0.11 percent at 19,744, as of 8:03 am.

On Friday, it seemed as though earnings set the tone in terms of the markets. The banks and the mid gaps were fairly resilient. Today, it seems as though earning reactions and global cues will be on top of the mind this week.

Today, the markets will react to Reliance Industries’ financial results as per which the consumer-facing business performed well.

Regarding the global cues, in the US markets, the Dow eked out a narrow gain on Friday, the 10th straight positive session.

Several central bank policy meets are also due this week. The US Fed meet is on July 25 and 26 of this week. There is an expectation that this could be the last time that the US Fed could hike rates. The ECB policy is on July 27 and the Bank of Japan will also meet towards the end of this week.

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

Indian benchmark indices — Sensex and Nifty 50 — are set to open little changed on July 21, on caution after data from the US reignited concerns of a prolonged high-interest regime, while investors awaited key domestic earnings.

India's GIFT Nifty on the NSE International Exchange was up 0.09 percent at 19,876.5, as of 8:12 a.m. IST.

Both the Nifty 50 and Sensex hit fresh highs for the fifth straight session on July 20, with the Nifty 50 closing just shy of the 20,000 mark. The benchmarks are on course to extend gains for the fourth week in a row, adding over 2 percent each so far. The Senex also broke about 67,500.

It seems that the 20,000 mark might be a little more elusive because of cues such as the Infosys numbers, and the tech giant cut its, which will probably deter investors.

The global setup is also a bit mixed. The US markets ended a mixed session. Earnings continued to be in focus such as Netflix as well as Tesla. Asia is largely in the red.

Meanwhile, Nifty Bank gained over 500 points in yesterday's trading session.

The markets could probably hold on to optimism because of cues coming out regarding quarterly results.

While Reliance Industries earnings will be out with numbers, post markets today. Separately, RBL Bank and AU Small Finance Bank will report their numbers on Saturday, which will really set the tone for Monday.

The market will also watch out for Ultratech Cement, HDFC Life Insurance with all of these numbers due for earnings in today's trading session.

Tune in to Marketbuzz Podcast for more cues 

Indian shares are set to open little changed on July 20, ahead of the demerger of Reliance Industries' financial services business and quarterly results from several top Nifty 50 firms, amid improved global cues.

India's GIFT Nifty on the NSE International Exchange was down 0.02 percent at 19,837, as of 7:59 a.m. IST.

Both the Nifty 50 and Sensex hit fresh highs for the fourth session in a row on Wednesday, powered by a late-session resurgence in Reliance Industries and financials on strong earnings.

Meanwhile, global markets ended in the green, the Dow and the S and P 500 gained about a quarter of a percent.

Back home, the domestic markets took off in the last hour of trade and the Nifty and the Sensex gained for the seventh day in a row hitting record-high levels.

Today is likely going to be a lot about individual stocks because there are many big earnings in the large-cap and midcap space due today.

The monsoon session of Parliament also begins today.

The stock which will grab all the attention in the morning is going to be Reliance Industries because the price discovery for Jio Financial services will take place today. And after that Jio Financial Services till it gets listed will be a part of the Nifty and the Nifty is going to have 51 stocks.

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

The global set up is positive today morning, The Dow Jones gained 1 percent for the seventh day in a row.

The Asian market picture is broadly higher. The Nikkei is up more than a percent, the Taiwan, South Korean markets are also in the green. But Hang Sang continues to remain under pressure.

As the economic data from China over the weekend has been downbeat, it is putting pressure on the growth expectations. The GIFTY Nifty is also suggesting a higher start today.

Yesterday, the markets opened up pretty well. The Nifty Bank was at an all-time high level, the mid cap index notched up a record, the small cap index was at an 18-month-high. But then some profit booking set in in the second half of the trading session and the markets were consolidating. Experts we have spoken to indicated that this is not a trend reversal. It’s just healthy time correction, profit booking, which happens after a fantastic rally, which we have witnessed over the last couple of days.

In terms of flows, the DIIs sold Rs 1300 crore in the cash market, the FIIs net bought Rs 2100 crore.

In earnings reaction, IndusInd bank, HDFC Bank and Federal Bank have reported their numbers. HDFC Bank’s earnings were steady on all parameters, Federal Bank’s were a bit of a miss on the margin, but the other parameters looked go. And IndusInd Bank too has reported numbers in-line with Street estimates.

It's a steady showing by Indecent Bank and Morgan Stanley today has raised the target price to Rs 1800 per share.

Meanwhile, L&T Tech reported a big miss on revenue and ICICI Lombard reported a miss on the profitability and that is on account of higher losses due to the cyclone.

Keep your eye out on the block deals. Rallis -- Yesterday, Tata Chemicals bought nearly a 5 percent stake, Rekha Jhunjhunwala sold a 5 percent stake

IFC has announced it will be investing Rs 958 crore in Federal Bank, with this their stake in the bank will rise to 8.1 percent compared to the previous 4.1 percent.

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

The GIFT Nifty is suggesting a higher start to today’s trading session. The momentum has firmly been in the hands of the bulls. Yesterday, both the Nifty and Sensex scaled another record high session.

New day, new records. Yesterday, 19,700 was taken out with ease in the last one hour of trade. Meanwhile, flows appear to be fairly muted. The FIIs bought Rs 73 crore, while the DIIs net bought Rs 64 crore.

In the first half of the trading session on Monday, IT was dominating – Infosys, TCS, Wipro, HCL – these were stocks at the high point of the day. In the second half of the trading session, profit booking set in in frontline IT names – Infosys and TCS.

HDFC Bank reported a steady set of numbers. The stock has been an underperformer as versus private sector banks over the last three years. And the stock took off. It powered. Even in the other names – SBI, Kotak Mahindra Bank – also did quite well by the close of trade.

Consequently, the markets conquered the 19700 mark. Today you have got the Fin Nifty expiry and important numbers from ICICI Lombard, ICICI Prudential, L&T Tech, IndusInd Bank and Polycab.

A word in the global market is slightly higher. The Dow Jones was up 2.5 percent, the S&P 500 adding 4.5 percent, the Nasdaq gaining close to a percent. But it’s a big week of earnings even in the United States. Tesla, Netflix, Goldman Sachs, Morgan Stanley and Bank of America.

In terms of individual stocks that you should keep on your radar, there are three IT stocks. One of them is Infosys, which has announced that they have entered into an agreement with an existing client to provide AI and automation-led development, modernisation and maintenance. The total client target spend over the next five years is estimated to be $2 billion.

LTIMindtree came out with its first quarter numbers, soft. The constant currency revenue growth is just up 0.1 percent quarter-on-quarter, lower than expectations.

Tata Elexi’s growth has slowed down, with constant currency revenue growth at 1.2 percent, its margin are down around 20 bps quarter-on-quarter, but 300 basis points from last year. There has been a slowdown in transportation, one of its key verticals, which witnessed a softer growth.

There is a big deal taking place in the mattress space. Sheela Foam has approved the acquisition of Kurlon. It will be acquiring a near 95 percent stake in Kurlon Enterprises for Rs 2,150 crore.

Amara Raja is going to see a very large block deal today. Claros ARBL will be looking to exit their entire 14 percent stake, with a floor price set at Rs 51 per share at a 5 percent discount to where the stock closed yesterday.

Federal Bank should be on your radar because its subsidiary FedFina has finally announced that it will filing their DRHP for an IPO.

Indian benchmark indices — Sensex and Nifty 50 — are likely to open little changed on July 16 after hitting record highs in the last trading session on July 14. This on the hopes of the US Federal Reserve pausing its rate hiking cycle while weak China data remained an overhang.

India's GIFT Nifty on the NSE International Exchange was up 0.09 percent at 19,636.5 as of 8:11 a.m.

HDFC Bank will announce its results for the April to June 2023 quarter, and JSW Steel followed by Reliance on Friday.

Meanwhile, the global setup continues to be very positive. US economists are calling it a goldilocks scenario because inflation is trending down while the labour market continues to be resilient.

Economists who expected a recession in the US economy towards the end of the year are saying that now the base case is that the recession may be pushed forward to next year, the early part of next year and it could be a soft landing.

The US economy is truly resilient to absorb the more than 500 basis points of rate hikes that we've seen so far in the last 12 months and it's not going to tip it into a very deep and severe recession.

Back home, after spending a week consolidating a band of 19,300 to 19,500 the markets convincingly broke out. The Nifty 50 scaled to an all-time high of 19,550 mark

HDFC Bank, will report its earnings numbers for the June 30 ended quarter. The stock has a 29 percent weight on the Nifty Bank. Other companies due to post their earnings include LTI Mindtree and Tata Elxsi.

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