MarketBuzz
1206: Marketbuzz Podcast with Kanishka Sarkar: Here are 10 key talking points
(upbeat music) Good morning, everyone. Hope you had a fun weekend. Well, now as we try to get past the Monday blues, here are a few cues to watch out for ahead of today's trading session. First, a quick recap. On Friday in the U.S., the tech heavy NASDAQ index advanced more than a percent. The S&P 500 also ended almost a percent higher for its first close above the 5,100 threshold. But both NASDAQ and S&P 500 hit fresh highs on March 1st, while the Dow Jones industrial average gained 0.23%. Now in the domestic market, SenseX and NFT ended at new closing high levels in the special trading session on Saturday, that is March 2nd. The extended previous day's sharp rally amid impressive GDP data and foreign funding flows. The NFT has rallied 450 points in the last three trading sessions. It has been a strong start to the March series, which has otherwise been a soft one for the index historically. On Saturday, the NFT even crossed the 22,400 mark in Friday before closing a notch below it. Now looking at the cues ahead, post this three day search, the NFT is only 155 points away from the level of 22,533, which would be three times from the bottom of 7,511 that it had made on March 23, 2020. Now, experts suggest as the NFT will have to surpass the 22,400 level decisively for the index to rally further towards the 22,600 mark. Now what do cues say? Well, strong momentum continues. As of 7 a.m., the gift NFT was trading above 22,500, indicating a start in the green for the domestic market. Asian peers don't track Wall Street grains. Japan's Nikkei smashed the 40,000 barrier. Australia's S&P ASX 200 started the week up 0.2%. South Korea's Cosby rose more than a percent. While in contrast, Hong Kong's Hanksang index was set to open slightly down. When the commodities front, oil prices rose slightly with West tax intermediate crude prices briefly crossing the $80 mark. For the first time in four months, as oil heavyweights, Saudi Arabia and Russia, alongside other key OPEC producers, said that they would extend voluntary crude supply cuts until the end of second quarter. Now going into the week, Super Tuesday will feature Republican Democratic primaries for the US election, while China's NCP will grab the focus from Wednesday. US labor data will also start coming in from Wednesday. Now, a look at stocks to track in the domestic market. Now, the NTPC board has accorded investment approval at an appraised current estimated cost of 17,194 crore rupees for Singrui's Super Thermal Power project. Investors will also track Godridge properties, which is entered into a definite agreement to develop a township project on a 62 acre land parcel in North Bengaluru, under a profit sharing model, offering 5.6 million square feet of a saleable area with an estimated booking value of 5,000 crore rupees. Meanwhile, Quoford's board has decided not to proceed with the proposed offering of its American Depository Receipts, which was approved in July and November of 2021. Dr. Lal Patlabs will also be in focus today as Parath Yu has quit as the CEO from May 20th, 2024. Now, defense companies are also going to be in focus today, like HAL and LNT, as the Ministry of Defense has signed five major capital acquisition contracts with HAL, LNT, and BrahMos Aerospace Private Limited. In terms of other developments over the weekend, the BJP has announced its first candidate's list for the 2024 Lok Sabha polls, and the Prime Minister is set to contest from the Varanasi constituency. While in startup news, Baidu's founder, Baidu Ramindran has told the air tech's employees that the company will not be able to pay salaries as the recent fund raised through a rights issue are inaccessible due to a legal dispute with certain investors. In a letter to the staff, Ramindran said that the rights issue launched a month ago has been successfully closed. Another key development has been the de-listing and re-listing of certain apps on Google Play Store. A few more apps came back on the Play Store on Sunday after they complied with Google's billing policy, even as the Internet and Mobile Association of India, that is IAMAI, expressed concerns as the majority of apps removed remained de-listed. Well, some like Bengali Matrimony, Marathi Matrimony, Tamil Matrimony, Jori, and Bharat Matrimony, Nokri, 99 acres, and Nokri Gulf are back on. Founders say majority of the apps are still not restored on Play Store. While IT Minister Ashnavi Veshnav on Saturday made it clear that the removal of apps by Google was unacceptable and that the startups will get protection that they need. The tensions between Google and some Indian apps fled on Friday after the tech giant removed certain apps from its Play Store in India over a dispute on service fee payments. Well, those were the few cues to watch out for today. You have a good trading session. This is Kanushka Sarkar signing off. Stay tuned to CNBC TV18. [MUSIC PLAYING] (upbeat music) [MUSIC PLAYING]