MarketBuzz
1226: Marketbuzz Podcast with Kanishka Sarkar: Sensex, Nifty 50 to open in green, Vedanta, Vodafone Idea in focus
(upbeat music) - Good morning, everyone. Welcome to CNBC TV18's Market Bus Podcast. This is your host, Kanesh Kasarkar, bringing you all the important cues ahead of today's trading session. First up, some global cues. Overnight in the US, the Dow Jones fell 0.1% to Market's 3rd Street negative day. The S&P 500 inched higher by 0.1% in its first winning session of the week. Whereas the Nasdaq composite traded up by 0.2%. This was all after Federal Reserve chair, Jerome Powell reiterated that recent readings on job gains and higher than expected inflation do not materially change the overall picture of the economy policies here. He says that it would take a wide policy makers to evaluate the current state of inflation, keeping the timing of potential interest rate cuts uncertain. The Asia-Pacific markets this morning rebounded following a sell-off in the previous session as investors digest comments from the US Fed chair. In Asia, investors will assess March service sector activity data from India, as well as retail sales numbers from Hong Kong. However, markets in Hong Kong, mainland China and Taiwan are closed for a public holiday. In Australia, the S&P ASX 200 rose half a percent after clocking glosses for two days. Japan's Nikhai gained over a percent and was hovering near that 40,000 mark while the broad-based topics rose over a percent as well. There was also action in commodities as gold reached another record, oil a five-month peak and copper a 13-month top, helping liftations shares and basic materials and energy companies. Some of these gains were due to supply disruptions and geopolitical tensions as well, but they also reflect optimism about global growth given a recovery in recent factory surveys that is PMI, particularly for China. Now, back home, we have been seeing intraday recoveries and flat closes for the past two days and the strategy of buy the dip seems to be working well. Now, for the NFTI, it seems the index is waiting for a decisive break above 2526. The index has been in a snooze mode over the last two sessions after the three-day rally. From the March 20 swing low of 21,700, the NFT has recovered over 3.5%. Yesterday may have been another flat session for the NFTI, but the index continued to respect levels within its 150-point range. It recovered over 150 points, having opened a gap down and found support at 22,350 levels. On the upside, it struggled to cross 22,500 yet again, making a high of 22,521 yet again and reversing from those levels. The Indian market, however, has remained resilient despite adverse global queues. Now, it remains to be seen how long will this resilience last as crude prices are knocking on the doors of $90 a barrel, treasury yields in the US are back about 4%, and the rally on Wall Street is also showing signs of exhaustion. For today, the NFTI suggests a positive start for the domestic benchmarks. Now, we'll look at stocks to track today. Avenue Supermarks has reported its quarterly update. Its revenue for the March quarter rose 20% year on year to 12,300 crore. Border phone idea is set to consider an issue of equity shares, convertible securities worth 2,075 crore rupees on a preferential basis to promote a group entities on April 6. LNT finances announced a realization of portfolio at the end of March quarter, which is at 94% from 75% in December. RBL Bank will be in focus as its gross advances are up 19% to 71,850 crore rupees. KEC International will also be tracked as it has one new orders worth 816 crore rupees. Now, investors will also track Vedanta as its aluminum unit has expanded alumina refining capacity to 3.5 MTPA at the Langerger alumina refinery in Orissa. Union Bank of India will also be in focus as Dubai DIFC branch has taken a syndicate term loan of up to $500 million, including a $100 million green shoe option. GE Power India has got two contracts worth 774 crore rupees from Japrakash Power. Now, lastly, GMM Power and Urban Intra, along with Sri Nam and developers, have incorporated a new company in the name of Portus Ventures with the main objective for carrying out the design operation and maintenance of superstructures on the land parcels at the Mumbai International Airport site. Well, those are a few cues to watch out for today. This is Kanishka Sankar Sankar, stay tuned to CNB's TVA team for more. (upbeat music) (upbeat music) (upbeat music)