MarketBuzz
1208: Marketbuzz Podcast with Kanishka Sarkar: Here are 10 key talking points
[MUSIC PLAYING] Good morning, everyone. You are tuned in to CNBC TV18's Market Bus Podcast. This is Kanishka Sarkar bringing you all the important cues ahead of today's session. Well, the last three training sessions I've seen the NFTI continue to trade in a narrow range and remain in a consolidation mode. Since the rally on Friday, the index has not really exhibited any signs of moving higher towards the 22,500 level or slipping from the record highs. So for now, NFTI seems to be consolidating above 22,300. Although the cut in the previous session that is March 5 was only 50 points, there are clear signs that the prevailing caution around the broader markets is also keeping the index gains in check. The small cap index ended a percent lower on Tuesday and underperformed most of the market. Meanwhile, NBFCs or non-bank lenders continue to be a key focus. Well, after IIFL Finance now reserved Bank of India's barred JM Financial from financing against shares and debentures. Therefore, NBFCs could continue to be under pressure on sentiment overhang. Meanwhile, both foreign and domestic investors bought in cash, while DIA has bought 1,834 crore rupees, FII has bought 574 crore rupees in the cash market. Now, remember, this is going to be a truncated week for the market. And today, that is March 6 is the penultimate day of the week. So today, we are likely to see the market react to more global queues. A note from Morgan Stanley has indicated that the global funds are turning less bearish on China. In the markets, they're also ended higher on Tuesday, led by ETF flows. Meanwhile, Wednesday will also be the weekly options expiry of the nifty bank contracts. Now, looking at global queues, Asia-Pacific markets fell across the board this morning, mirroring a tech slide on Wall Street overnight, which was led by Apple. Now, Apple shares slipped almost 3% in the U.S. after a report from counterpoint research found that iPhone sales plunged in China in the first six weeks of 2024. Investors monitored shares of Apple suppliers in Taiwan and South Korea. Hong Kong's hand-seeking index rebounded Tuesday's losses to rise 0.26%, while China's CSI 300 index was down 0.18%. Japan's Nikkei dip 0.37%, falling below the 40,000 mark, while the broad-based topics edged 0.1% higher. U.S. stocks slipped for the second session last night. Drag by Steve declines in major tech names such as Apple, as we discussed earlier. The index is slipped from record high territory. The NASDAQ composite fell 1.65% as technology stocks fell the most. The Dow Jones lost 1.04% while the S&P 500 fell 1.02%. Meanwhile, the U.S. jobs data is due later this week. In cryptocurrencies, Bitcoin was slightly up, but stayed below record high, reaching a volatile overnight session. Oil has also fallen about a percent to near $82 per barrel, whereas gold has hit fresh highs amid the risk of environment. As of 7.30 this morning, the gift nifty indicated a gap down starts from the domestic market. Now, stocks on the radar today are likely to be Zomato. As sources have said that, and then Singapore Holdings plans to sell 17.64 crocheters or 2% of the company's total equity via block deals. Now, Sam Vardana Madhassan will also be in focus as Sumitomo wiring is planning to sell 4.4% stale via a block deal. Havels India is looking to expand its existing product portfolio with the introduction of kitchen appliances. Meanwhile, the REC board is to consider third interim dividend for the financial year 2024 on March 16. Bhatiaetel has approved allotment of 56.8 lakh shares to foreign currency convertible bondholders for $40.86 million. Coal India will also be in focus as South Eastern Coal Fields Jivra mine gets environmental clearance to expand production capacity to 70 MT per year from the current 52.5 MT per year. Vipro on the other hand has acquired 27% stake in SD versus LLC for $5.85 million. India both real estate JSW energy, NHPC and IR CDC are some of the other stocks that you must track today. Well, those are the few cues to watch out for today. Have a good training session. This is Kanshka Sankar signing off. Stay tuned to CNBC TVA team. [MUSIC PLAYING] (upbeat music)