MarketBuzz
1225: Marketbuzz Podcast with Kanishka Sarkar: Nifty 50, Sensex likely to open lower; Ultratech Cement, Zee in focus
(upbeat music) - Good morning, everyone. Welcome back to CNBC TV18's Market Bus Podcast. This is your host, Kanishka Sarkar, bringing you all the important cues ahead of today's session. But first up, a look at some global cues. Asia Pacific starts declining this morning after a mixed session with markets wanting for moves in electric vehicle makers. It's because Tesla's first quarter vehicle deliveries dropped 8.5% from a year ago, sending shares of the US EV maker down by 5%. Chinese EV maker, BYD on the other hand, has said that first quarter sales have planned 43% quarter on quarter. Now the BYD shares have fell 1.5%, whereas Hong Kong's HangSang index opens 0.5% lower. In the overnight session in the US, Dow Jones fell for a second straight day as bond yields rose and expectations that the Fed would cut interest rates in June have fallen. Now the Dow closed nearly 400 points or a percent lower, while the S&P 500's led 0.72%. It was the worst day since March 5th for the Dow and the S&P as well. The NASDAQ composite on the other hand, shed almost a percent. Meanwhile, in some big news, Taiwan was hit by a powerful earthquake early this morning. The Taiwan weighted index has shed 0.8%. Now Japan's Nikkei is down by 1.07% with the broad-based topic 0.4% lower. Now in some other global queues, crude prices were higher, the US Dollar index is also winched up as did the treasury yields in the US. Now back home, the Nifty has managed to avoid any significant correction and the dip that came during the day, yesterday was quickly bought into. After a swift recovery from the recent swing low of March 20, the Nifty seems to have taken a pause. It traded in a 100-point range yesterday, but managed to respect levels both on the upside as well as the downside. The index found support in slipping below 2,400 and failed to cross and sustain above the 22,500 mark for the third day running. Whereas on the flip side, the broader markets have been rising, the mid-cap index gained for the seventh day in a row and are now up by over 4,000 points from their March 20 lows. The small-cap index is also gained for the eighth-straight day in a row and has now gained over 1,650 points from its March 20 low. The reality index, on the other hand, is also hit a 16-year high after rising for the eighth day in a row. Similar to the Nifty, the Nifty bank has also remained in consolidation mode with heavyweight banks on either side of the fence. Now here's a look at some stocks to track today. UltraTech cement is going to be in focus as it is commissioned two new greenfield capacities totaling 5.4 MTPA in Chhattisgarh and Tamil Nadu. JSW energy board is approved raising 5,000 crore rupees via QIP. We will see entertainment. MD and CEO Puneet Koinkar has implemented a voluntary 20% pay cut on his personal remuneration. Anupa Masein has signed a letter of intent of the Japanese multinational worth $90 million or 743 crore rupees. The Dhan Lakshmi Bank has reported a business update saying that its total deposits have gone up 6.8%. On the other hand, Hindustan Zincan, Nalco, have also posted their metal production updates. Karu Vasya Bank has accepted one-time settlement proposal from PC developers. HCL Tech's arm has divested 49% equity stake in its joint venture with US-based State Street International Holdings for $172 million. Lastly, Sri Ram property arm has received a tax penalty all of 446 crore rupees. While the gift NFT suggests a start in the red for the benchmark, Cen6 and NFT today, those are the few cues to watch out for. This is Kanishka Sarkar signing off. Stay tuned to CNBC TV80 for more. [MUSIC PLAYING] (upbeat music) [BLANK_AUDIO]