MarketBuzz
1217: Marketbuzz Podcast with Kanishka Sarkar: Here are the key talking points
Good morning, everyone. Welcome to CNBC TV, 18's Market Bus Podcast. This is your host Kanishka Sarkar bringing you all the important cues ahead of today's market session. Well, the domestic market sold off across large and small caps yesterday since it slipped more than 700 points while the NFT fell below the 22,000 level in the previous session. Now, this was following a sell-off in the index majors like TCS, emphasis and reliance, as well as weak Asian trends as Japan's central bank hydrates for the first time in 17 years. All eyes are now on the US Federal Reserve as it is due to announce its interest rate decision later tonight, the two-day policy meeting kicked off yesterday. Ahead of the FOMC meet, US equities were higher, the Dow Jones Industrial Average gained 0.83%, marking its best stay since February 22, while the S&P 500 climbed half a percent for a fresh record. The Nasdaq composite advanced 0.39%. This morning, Asia-Pacific Markets rose as investors digested the Bank of Japan's landmark shift in monetary policy while awaiting the US Federal Reserve's interest rate decision. Hong Kong's Handsack Index led half a percent while mainland Chinese CSI was down 0.72%. In Australia, the S&P ASX 200 rose 0.26%, which is a day after the country's central bank held rates at 4.3% for the third meeting in a row. South Korea's cost declined 1% powered by a 3.43% gain in heavy-weight Samsung electronics, while the small-cap cost deck was down marginally. Japan's Nikhai is closed for a public holiday. Meanwhile, oil is up another 0.6% to above $87 per barrel, while back home in the previous session, nifty finally closed below the 40-day EMA. It must be noted that nifty made a low, but none of the other indices that its banks and small caps made a lower low. For a bounce, nifty needs to climb above $21,950, which is its 20-hour average. Bank nifty has fallen for eight straight days, but it still did not make a lower low yesterday. Bank nifty could retrace some of the fall today. A look at some of the stocks to track. Aditya Birla's Sunlife AMC as the non-retail portion of the offer for sale has been fully subscribed. Promoters are due to exercise the "green shoe" option of the OFS. Vodafone idea will also be in focus as ADC Telecom will convert optionally convertible debentures issued by the company worth 1,440 crores into equity shares of the company. Aurobindo Pharma has got US FDA approval from Montazon Furo8 Monohydrate Nasal Spray. The spray is used in the treatment of nasal symptoms like seasonal, allergic and perennial allergic rantise. TCS has been selected by Central Bank, leading midwest regional bank in the US to modernise its co-technology. Persistent systems has executed Sherpa Chase agreement for transfer of arm per system systems UK from Ireland's Aopona Group to the company for €7.4 million. Yes, bank on the other hand has concluded the transfer of exposure of bank in Katira India private limited to Prudent Arc which is an asset reconstruction company for 203 crore rupees. Ultratech Siemens should also be tracked as the Competition Commission of India has approved the acquisition of a case around cement assets from case around industries. SBI cars, meanwhile, has decided an interim dividend of 2.5 rupees per share for the financial year 2024. The record date has been fixed as March 28. Well, apart from market news, today will be the 2nd day of Network 18's Rising Parrot Summit which Prime Minister Narendra Modi and Home Minister Amit Shah are also due to attend. Well, those are the few queues to watch out for today. This is Kanishka Sakaar signing off. Stay tuned to CNBC TV18. [Music] [BLANK_AUDIO]