MarketBuzz
1207: Marketbuzz Podcast with Kanishka Sarkar: Here are 10 key talking points
[MUSIC PLAYING] Good morning, everyone. Welcome to CNBC TV18's Market Bus Podcast. This is Kansh Khasarkar bringing you all the cues before today's trading session. First up, a quick recap. In the previous session, the NFT held firm above $22,400. Both Sensex and NFT settled at new record high levels in a highly volatile trade. There was buying an energy and banking shares as Moody's upgraded 2024 India GDP growth forecast on better than expected economic data. There was also a large buying from domestic institutions. The DII bought 7,300 crore rupees in the first three days of March. Now, well, in terms of cues for today, overnight in the US, all three major indexes are retreated with the S&P 500 and NASDAQ composite of all-time highs. This despite stocks tied to the artificial intelligence boom, seeing a rally. The S&P 500 shed 0.12% while the NASDAQ composite slipped 0.4%. The Dow Jones Industrial Average lost 0.25%. Asia-Pacific markets also fell this morning as China's two sessions meeting got underway. Investors are watching out for the details of its economic plans after the country projected a GDP growth target of around 5% for 2024. The country also expects the inflation rate to rise around 3%. Japan's Nikkei fell below the 40,000 mark after crossing that milestone yesterday. South Korea's cost was also slipped 0.13% and a small cap cost act shed 0.92%. Hong Kong's Hanksang Index also fell more than 1%, that is 1.4%. On the commodities front, gold futures settled at a record high on Monday, as traders bet that the Federal Reserve will start cutting interest rates in the second half of the year. Futures reached $2,126 before falling slightly to $2,115 per ounce currently. Another asset class, Bitcoin, has surged past $67,000 for the first time ever, while this surges ahead of Bitcoin halving in April and being inflows due to Bitcoin spot ETF. Now, in terms of stocks to track in the domestic market, Tata Motors will be significant to watch today. It is a big positive for Tata Motors as the company has finally be merged its PV and CV businesses into two separate entities. Analysts, however, believe that most of the re-rating of Tata Motors' individual segments has already happened. Margins of JLR have increased from 9.3% in F5/22 to 16% in F5/24. Allara Capital says that large part of the re-rating for Tata Motors' India PV business was accounted for post-the-TBG deal for the EV company. Meanwhile, according to sources, macro tech developers has launched a QIP to raise funds. They've said that the company is looking to raise 3,300 crore rupees through the QIP. Tata Communications is also another stock to watch today. The Department of Telecom has granted an additional authorization to provide M2N that is machine to machine services in the national area under the company's existing unified license agreement. The service authorization has a validity of 20 years. Meanwhile, Tata platforms has launched a messaging as a platform for telecom companies to report Google-rich business messaging. Esmi Trip on the other hand will collaborate to introduce a P&B EMT co-branded credit card. Now, this may be a truncated week, but it's a data-driven one. All eyes will be on China today where the National People's Congress, that is NPC, would convene to announce future growth targets and also any potential stimulus to boost a struggling economy. The weaker head will also see the European Central Bank announce its interest rate decision, and while it may not have a direct impact on Indian equities, it will have some bearing on the global markets. Well, as of 7.30am this morning, the gift nifty indicated a flat start for the Indian market. But those were a few cues to watch out for today. Have a good trading session. This is Thanushka Sarkar signing off. Stay tuned to CNBC TV. ♪♪♪