MarketBuzz

Indian benchmark indices Sensex and Nifty 50 are likely to open higher on July 14 even as there seems to be some slight worry given the selling pressure seen in the last hour of the trading session yesterday.

The pullback was quite significant with the last session selling pressure taking the Nifty 50 lower quite significantly. The Nifty 50 ended near the flat line.

As far as the global industries are concerned, the US market ended well in the green. In fact, the NASDAQ gained over a percent and a half, seeing the highest close since April 2022. European markets ended with strong gains continuing their rally up almost over 0.7 percent.

Crude oil prices, however, gained further traction. Crude oil prices are trading at a fresh three month high with Brent futures yesterday gaining over a percent and a half to the $81.36 a barrel mark.

Back home, banking stocks have been performing poorly compared to the rest of the market. On the other hand, a surprise pocket of out the performance was seen from the Nifty IT index with TCS and HCL Tech. Despite muted results, the tech stocks closed with gains while the metal pack was one that saw significant gains as well.

Another key thing to watch out for is the Asian markets, which were lending a helping hand this morning and the GIFT Nifty indicated a slightly positive start for the domestic markets.

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The US market rally extended as the June CPI data was a lot softer than what analysts were anticipating. This has reduced chances of significant rate hikes as far as the US fed is concerned, which led to a rally in equity markets.

The NASDAQ popped over a percent in yesterday's trading session. Even the European indices ended with strong gains yesterday. 

However, crude oil prices too gain further traction, Brent futures for the first time since May went up over the $80 a barrel mark gaining close to a percent in yesterday's trading session.

Meanwhile, the Indian markets in the last hour of trade yesterday witnessed a significant pull back from the day's highs. The last-hour trade of course was impacted by the index re-balancing flows as HDFC Limited bowed out of the bourses yesterday, before the corporate action where the company got merged with the HDFC Bank. We did see the Nifty IT index underperform. Today, all eyes will be on IT  stocks as we had two major results that came in post-market hours yesterday, with both TCS and HCL Tech. It has been a muted start for the first quarter results from the technology sector. 

On another note, the core continues to remain sticky, while the IIP data was quite strong wth industrial production remaining quite robust. 

Today, some of the key results to keep an eye out for include Wipro, Central Bank. 

The GIFT Nifty is indicating a gap-up start for the Indian benchmark indices.

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Indian benchmark indices — Sensex and Nifty 50 — are set to open little changed on July 12, with investors eyeing both domestic and US inflation data for June as the quarterly results season kicks off.

India's GIFT Nifty on the NSE International Exchange was down 0.01 percent at 19,535.50, as of 8:00 am.

All eyes are on India's inflation print, due after market hours. A Reuters poll of economists showed that retail inflation likely snapped a four-month decline in June due to rising food prices.

The overnight cues from both US as well as European markets are quite positive. US markets extended the rally with all indexes ending with positive gains while the European indexes supported the rally. They too ended with mild to marginal gains.

However, crude oil prices yesterday jumped to a 10-week high with Brent futures up almost 2.5 percent to the $79.4 a barrel mark not coming closer to the Indian markets.

Meanwhile, the Nifty continued to move up mainly aided in the last two trading sessions by the strong gains in Reliance Industries. The stock surged to a fresh 52-week high almost single-handedly taking the Nifty higher with it.

Agro-chem majors have been given guidance cuts and have also been saying that 2024 could be a bit of a washout in terms of the demand that they are expecting.

The consumer price inflation and the industrial production data are due today and it will be interesting to see the kind of numbers that come out as markets take further cues from there.

The focus will also be on Tata Consultancy Services (TCS) as well as HCL Tech, both are due to report their earnings for the April to June period.

Also, HDFC Limited is set to get delisted tomorrow following the HDFC Bank merger that came into effect on July 1. Therefore, today the market is likely to witness significant index rebalancing flows as Nifty, Sensex, and Nifty Bank, all of them will see changes in constituents.

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Well, we're actually looking at quite a positive set of overnight cues, both from the US as well as the European markets. Asian markets too are in the green and the GIFT Nifty is also trading in the green, indicating a positive start for our own markets today morning.

Overnight, most US markets ended in the green. Dow Jones ended over 0.6 percnet higher and US indices managed to snap a three-day losing streak.

European indices too ended with marginal gains, while crude oil prices slipped over a percent in Monday’s trading session to the $77.69 a barrel mark.

Meanwhile, the Indian markets on Monday witnessed a strong opening. They saw some further buying. However, there was a significant selling pressure in the second half and the markets managed to only end near the flatline and didn’t see significant gains. Advanced decline ratio, as far as the broader markets were concerned, were something that were skewed towards the decline or towards the laggard. This ensured that the broader markets underperformed the benchmark index.

Reliance Industries was one of the top Nifty gainers. It aided the market’s up move, given its high weightage in the Nifty index. Reliance’s outperformance actually marked the underperformance of quite a few stocks within the Nifty from other stocks as well.

Yesterday, the metal pack too witnessed a lot of buying interest. It will be interesting to see if that interest can sustain today.

The record date for the mega impending merger of HDFC Limited and HDFC Bank has been to set to July 13. HDFC Limited, which is a part of many key indices such as the Nifty, Sensex as well as passive indices such as the MSCI, etc, will be deleted from these indices. According to the merger ratio, HDFC Limited shares would now be transferred to HDFC Bank shares. So you will see changes coming in tomorrow in Nifty, Sensex, etc.

Two names to watch out for – LTIMindtree which come in place of HDFC Limited in the Nifty and JSW Steel will be replacing it in Sensex.

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Indian markets continue to be an outlier as far as global equity markets are concerned. While most of the global equity markets are seeing a pullback from the recent record rally that's been set worldwide in equity markets, Indian markets continue to display their strength even in the week gone.

In the week gone by, the US markets ended with cuts on Friday, while the European markets ended with gains, following steep cuts in the previous sessions. However, the handover has been slightly muted. Also, given the fact that oil prices are a bit of a bump up as far as Friday is concerned.

The Indian markets have a lot of cues to watch out for. The markets did see a significant sell-off on Friday. However, despite Friday’s steep fall, the Indian markets have ended with gains of over a percent in the week gone by. This continues to indicate that the bulls are in firm grip at this point of time.

The Asian markets today did see a muted start, but have recovered since then. GIFT Nifty is indicating a positive start.

When it comes to primary market activity, new listings have seen a tremendous surge and Ideaforge was one. It is a key example where the stock almost doubled on the listing day itself.

Today, we will see the listing of Cyient DLM and its subscription was very strong.

The other key data point would be to watch out for the monthly mutual fund data. AMFI will be releasing the June mututal fund data and the SIP numbers especially will be something that the markets will be keenly anticipating.

Lastly, the results season will kick off this week, with TCS and other tech majors reporting their numbers.

The trading session on Thursday was definitely a very good one for the Indian benchmark indices. The market surged to another record high. The Nifty has now posted a record close for the sixth-straight session, extending its gaming streak to eight consecutive sessions and has rallied 865 points in eight sessions and has crossed 19,500 on an intra-day basis yesterday.

The midcaps outperformed, with the advanced decline ratio steady at around 2 to 1 on a year-to-day basis. The midcaps have given returns of around 15%.

All the gains came in on Thursday despite caution over the FOMC minutes. FIIs continued to buy into the Indian equity markets. They bought around Rs 2,641 crore in yesterday’s trading session. DIIs however sold Rs 2,351 crore.

Today, the set up in the global space seems weak because the US markets closed in the red. Asia is largely weak at this point in time reacting to the US markets. Meanwhile, the GIFT Nifty is indicating a bit of a flat start.

It seems as though India is de marketing itself and moving away from what the global markets are doing, whether or not this trend continues is something that the Street will watch out for.

As of now, we have a couple of important cues such as the healthy FII flows, the monsoon progress, Q1 progress from companies, which seems to be aiding momentum.

1:49Remember we also have updates from consumer facing companies such as Titan, Dabur, etc, All these stocks would be in focus in today's trading session.

The other big queue is the US non-farm payrolls data as well as the unemployment data, which are due today and which we will be reacting to on Monday.

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On Wednesday, we did have the frontline indices consolidate and the midcaps outperform. But, the Nifty still posted a record close and the midcap index was also at a record close in Wednesday’s trading session.

The momentum was intact because we had 52.8 percent of the stocks which advanced in yesterday's trading session.

India's market capitalisation hit a record high crossing Rs 300 lakh crore for the first time ever.Foreign institutional investors (FIIs) continued to pump in money and they bought around Rs 1,603 crore in yesterday's trading session.

In terms of the global markets, the FOMC minutes pointed to a rate hikes at a slower pace. The US markets which closed marginally lower, Asia which is weak and the GIFT Nifty which is indicating a marginally lower start as well.

Brent crude did see a marginally up move. Brent and crude are trading around $76 per barrel

Other things to watch out for include the financials, where the Wednesday’s fall was led by the weakness in the HDFC twins post the Q1 updated of the merged entity. However, we did have the Nifty PSU bank index which outperformed and was up around 1 percent on Wednesday.

Do watch out for continued gains in the broader markets. On Wednesday, 65 percent of the stocks advanced in the BSE 400 mid and small cap index in Wednesday's trading session.

It is also the Nifty 50 weekly options expiry today.

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

Indian benchmark indices — Sensex and Nifty 50 — are likely to open little changed on July 5 amid caution due to concerns of escalating trade conflict between the US and China, and as investors await the US Federal Reserve's June monetary policy meeting minutes.

The momentum, however, continues for the domestic markets considering that the markets hit a record high for the fourth consecutive day.

In terms of global markets, the US markets are closed on account of Independence Day. Asia, however, is largely lower due to services activity slowing both in China as well as Japan.

Brent crude is hovering at around $75 per barrel.

Indices and queues to watch out for include midcaps that are underperforming while financials are outperforming.

In the US, investors await the minutes of the Fed's June policy meeting, due at 11:30 pm tonight, for cues into the monetary policy trajectory. While recent data after the June Fed meeting signalled moderation in inflation, the odds of a 25 basis points rate hike in its upcoming July 26 meeting stood at 86.2 percent, according to Reuters.

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Indian equity benchmark indices — Sensex and Nifty 50 —  are likely to extend their gaining streak to the sixth day in a row on July 4, after a stellar five-day run.

The structure and momentum seem intact for the domestic market after it closed at a record high for the third straight session.

Overnight, the US markets eked out small gains in what was a truncated session. Asia, meanwhile, has largely fallen ahead of the Australian rate decision.

Oil is at around $74 per barrel, which rallied on Saudi Arabia and Russia supply cuts in August.

There is not much in terms of cues coming in for the global markets, but the markets will be watching out for the Federal Open Market Committee (FOMC) minutes that are due this week.

Overall, it seems as though the structure remains positive and the Nifty may attain highs at a steady pace.

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

We are all set to begin trading for the second half of 2023, with the first half being extremely strong for equity markets despite multiple worries of a US-led recession and also spiralling interest rates.

Now, when you're talking about the first half of 2023, US markets were very strong with the Nasdaq gaining over 31 percent for the first half of the year. And even June-end has been very strong with the US markets, giving a very strong handover for the rest of the globe.

European indices too were very strong and the oil prices managed to go ahead and post the fourth-straight quarterly decline.

Coming to the Indian markets, all of the frontline indices have ended at record highs and are trading near record highs. Another very big development today is the fact that the SGX Nifty that we used to allude to earlier has moved to Gujarat Gandhinagar and will be known as the GIFT Nifty. The GIFT Nifty is now indicating a very strong start for our markets for the second half.

Another important thing to note is that in the second half of this year, it is important to note if this particular rally that we are seeing sustains or not.

Last week, the pharma stocks, AMC stocks were some of the top gainers. The key question is can the rally sustain post-Q1 results?

The cues to watch out for in today;s trading session includes auto stocks, as the auto majors such as Maruti, Tata Motors, Hero MotoCorp, etc, delivered their sales numbers for the month gone by; quarterly updates from companies such as UltraTech Cement, CSB Bank, etc are expected to be quite positive.

Primary market activity will continue to remain in focus.

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