MarketBuzz
1218: Marketbuzz Podcast with Kanishka Sarkar: Sensex, Nifty 50 likely to open in green after Fed decision
Good morning, everyone. Welcome to CNBC TV18's Market Bus Podcast. This is your host, Kanishka Sarkar bringing you all the important cues ahead of today's trailing session. The US Federal Reserve has maintained its interest rate cut projections for the year in the face of upside surprises on inflation and did not strike a more hawkish tone as some investors had feared. Overlight in the US, all three major indices rose with Dow Jones Industrial Average and S&P 500 closing at record highs. The Dow Jones rallied a percent S&P 500 gained 0.89% to rise above the 5,200 level for the first time, whereas the NASDAQ Composite jumped 1.25% powered by mega-cap tech stocks. This morning, Japan's market hit a fresh all-time high as Asia markets climbed after the Federal Reserve maintains its forecast for three rate cuts. Japan's Nikkei searched 1.2%, hitting a all-time new high, while the topics also set a new record in rose 1.26%. Hong Kong's Handsang Index gained 1.5%, while the CSI 300 on the Chinese mainland inched up 0.32%. Indian market is also likely to start the day on a positive note, tracking the global peers. However, if the domestic market will reverse days of sluggish moves as the March F&O series draws a close remains to be seen. For the NFTI, many short-term indicators are pointing to a bounce. In the previous session, S&P had rebounded, propelled by bargain-hunting in Reliance Industries, ITC and SPI, amid a largely firm trend in global equities. However, traders say that a depreciating rupee and selling pressure in small-cap stocks has restricted the gains. As NFTI is holding 21,800, experts suggest that on the way down, NFTI should not break the low of 21,710. Meanwhile, Bank NFT saw its 9th daily lower close, and resistance for Bank NFT would be at 46,608. Meanwhile, there was a lot selling from foreign investors yesterday. FIIS sold 2,599 crore rupees, whereas DIS bought 2,667 crore in cash yesterday. Oil prices have rebounded after falling in the previous session as U.S. crude and gasoline inventory declines supported the market after signs that the U.S. Federal Reserve may keep rates higher for longer crimped the outlook for future fuel demand. Brent crude was $86 a barrel. Now in the domestic market, here's a look at stocks to watch. TDS Motor will issue 4 cumulative non-convertible redeemable preferred shares of 10 rupees each for every one share held as on record date. RVRL has emerged as the lowest bidder for a certain Eastern railway project with 167 crore rupees. Crompton has got its 4th consecutive order for solar water pumping system for Harayana under the PM Cosum scheme. Saskin Technologies will acquire 60% equity share capital of Anup Silicon Services by subscribing to the compulsory convertible debentures through a preferential issue on a private placement basis. Suss-learn board has approved conversion of 22.86 lakh partly paid-up equity shares of face-value 2 rupees each into fully paid-up equity shares. PB Fintech has incorporated wholly owned subsidiary, a PB pay-private limited to carry out the business of a payment aggregator, both domestic and cross-border or both as permitted by the RBI. Vipro will also be in focus as Andy Murray Rowland has been appointed as the CEO of Capco from April 1, 2024. NHBC board will meet on March 27th to consider funding raise. Those are a few cues to watch out for today. This is Kannushka Sadkar signing off. Stay tuned to CNBC TV 18 for more. [MUSIC] [BLANK_AUDIO]