MarketBuzz
1239: Marketbuzz Podcast with Kanishka Sarkar: Sensex, Nifty 50 likely to open lower, Kotak Mahindra Bank in focus
(upbeat music) - Good morning, everyone. Welcome back to CNBC TV 18's Market Bus Podcast. This is your host, Kanishka Sarkar, bringing you all the important cues ahead of today's session. Well, the NFT is now up for four days in a row, but is following a template of making an intraday high and then ending 70 to 80 points off those high. Thursday will be expiry of the April F&O series for the NFT, which has been a volatile one for the index. Now, the NFT has scaled a new peak. It has corrected 1,000 points from those level and is clawing back most of those losses as the series draws to a close. For the series so far, the NFTs are 80 points. Now, two index constituents may impact the NFTs March on the monthly expiry day. First is Hindustan Unilever, which had no surprises in its quarterly results that met already low expectations. On the other hand, Court of Mahindra Bank will be in focus because of the RBI action. Now, also reacting to results will be stocks like access bank, LTI Mindtree, along with broader market names like Dalmiam Bharat and Indian hotels. Stocks like Nestle India, Tech Mahindra, LNT Technology Services, Indusin Bank, ACC, Bajaj Finance among others will be reporting their quarterly results today. Now, globally, Asia-Pacific markets took a breather this morning after two stray days of rallies. Mirroring moves on the Wall Street, ahead of the first quarter, gross domestic product figures, which are due later in the day. In Asia, investors will assess South Korea's advanced first-quarter GDP growth of 3.4% year on year, which is the highest quarterly growth since the fourth quarter of 2021. Separately, the Bank of Japan kicks off its monetary policy meeting today as investors monitor for action against yen weakness. The yen has lit past the 1.55 mark against the US dollar, hitting a fresh 34-year low on Wednesday. Now, Japan's Nikai has dropped more than a percent while the topics was down 0.6%. The yen was still firmly beyond the 1.55 mark against the Greenback Training at 1.55.26. The futures of a Hong Kong's HangSec index stood at 17,185, pointing to a weaker open compared to exercise close of 70,200. Meanwhile, overnight in the US, all three major indexes were largely range-bound as interest rate fears dampened to the enthusiasm, stemming from a strong state of corporate earnings. The S&P 500 eked out to 0.02% gain, while the Dow Jones fell 0.1%, the Nasdaq composite at 0.1% higher. Shares of Meta, the parent company of Facebook, plunged as much as 19% in extended trading on Wednesday, after its second-quarter revenue guidance, missed analyst expectations. Oil crisis on the other hand, is in early trade this morning. As concerns about a potential slowdown in the US economy, amid prospects for delayed interest rate cuts, outweighed worries over the risk of expanding conflict in the Middle East. Breadcrude futures did to $86.95 a barrel. Now, back home, the gift NFT was trading with a discount of nearly 50 points from NFT futures Wednesday's close, indicating a start in the red for the Indian market. Among the stocks to track a quote at Mahindra Bank, the lender has been directed by the RBI to not onboard new customers via online and mobile banking, and it has also been directed to not issue fresh cards. The RBI says that serious deficiencies and non-compliance were observed in the areas of IT inventory management and a host of other issues. Hindustan Unilever has reported volume growth of 2% for the March quarter, which is in line with estimates. Other parameters were also in line with expectations, overall meeting low expectations. Access Bank meanwhile saw a net profit of 7,130 crore rupees, which is higher than the estimates. The asset quality of the lender is lowest in over eight years. LTI Mindtree's revenue and margins were lower than estimates. Its constant currency revenue declined 1.3% compared to the estimate of a 0.8% decline. Margins declined for the third consecutive quarter. Dalmy Amharas recorded a net profit of 320 crore rupees, which was higher than the CNBC-18 pole projection. Revenue came in at 4,307 crore rupees, which was also higher than the expectation. SINGINE's net profit went up 5% to 188 crore rupees, while the revenue declined by 7.8% from the last year to 916 crore rupees. EBITDA was fled while margin expanded 300 basis points with 34.6%. The underlying driver for weak performance the reduced demand for research and development services within the US biotech, stemming from a difficult funding environment. Meanwhile, AU's Small Finance Bank, its net profit came in at 370 crore rupees, which was higher than projections. Indian hotels profit jumped almost 30% to 438 crore rupees, whereas revenue was up 17% at 1,900 crore rupees. Real Vikas Nigam has been declared the lowest bidder for a thousand railway project worth 239 crore rupees. Also, ITC shareholders meet as due on June 6 for the scheme of arrangement among ITC and ITC hotels. Apart from that, Motilal Oswal is appointed Pratik Agarwal as its MD and CEO of Motilal Oswal AMC from April 26 onwards. Well, those are the few cues to watch out for. This is Kanishka Sankar signing off. Stay tuned to CNBC TVating for more. [MUSIC PLAYING] [MUSIC PLAYING] [BLANK_AUDIO]