MarketBuzz
1256: Marketbuzz Podcast with Kanishka Sarkar: Sensex, Nifty 50 headed for muted start, BHEL, Nykaa in focus
(upbeat music) - Good morning, everyone. Welcome back to CNBC TV18's Market Bus Podcast. This is your host, Kalishka Sarkar, bringing you all the important cues ahead of today's training session. First up, I look at global cues. Well, NVIDIA is the talk of the town at AI events leading into this week's earnings. This week, Microsoft, which provides servers to open AI, will announce new AI advancements and features that will develop to the companies massive clusters of NVIDIA's GPUs. The company is hosting its built conference in Redmond, Washington. Now, NVIDIA is expected to report year over year revenue growth in excess of 200% for the third quarter, with analysts projecting a fiscal first quarter bump of 243% to $24.6 billion according to LSEG. Now, meanwhile, overnight in the US, all three indexes close in positive territory, with S&P 500 and the NASDAQ composite closing at record highs, as investors looked toward AI darling NVIDIA's earnings report. The NASDAQ composite rose 0.2%, the S&P added 0.2% as well, whereas the Dow Jones closed 0.17% higher. However, Asian stocks struggled for solid footing this morning amid a lack of local drivers after S&P 500 crept to another record ahead of the results of NVIDIA. Now shares in Japan fell as the country reported a trade deficit, while those in Australia climbed. Equity benchmarks in Hong Kong and mainland China slipped at the open. US futures were little changed in early Asia trading after the S&P 500, so it's 24th record this year. MSCI's Asia Pacific Index is down for a second day after a seventh session win streak. Investors are waiting to see if NVIDIA, the poster child of artificial intelligence, will be able to match the sky-high expectations surrounding the technology. Central bank events are also in focus for queues on the direction of global rates. Now back home, traders in India's talk market, saw a range-bound session for the NFT yesterday. The index found support to the lower end of the trading rates at 22,400 and resistance at upper end of the range of 22,600, eventually eking out more does gains to sustain about the 22,500 mark. While the index consolidated after a swift recovery from the May 13 lows, there were plenty of stock specific opportunities in earning reactions, which gave both the bulls and bears an opportunity. After Tuesday's surge in the broader markets, the NFT mid-cap index also crossed the 52,000 mark and the overall market capitalization of BSE-listed companies caused five trillion in US dollar terms. Now, metal stocks continued their merry wages, global commodities saw their record-breaking run extend for yet another day. This morning, gift NFT was trading with a premium of more than 15 points from NFT futures at Tuesday close, which indicates a flag to positive start from the Indian market. Now for the mid-week trading session on Wednesday, stocks like BHEL, Metropolis, JK Tire, VATechwag bag, Gulf oil lubricants will react to the results that were reported after market hours on Tuesday. The session will also see 15 names like Sun Pharma and Grazim report through their results, along with broader market names like NICA, Petronet, LNG, Jublin Foodworks, Metro Brands, Glan Pharma, Ramco Siemens, Garden Reach Shipbuilders, among other prominent names. Well, those were the few cues to watch out for today. In other news of global significance, one person died and Peti were injured aboard a Singapore Airlines flight that was hit by a severe turbulence and forced to land in Thailand. Singapore Airlines flight three to one encountered sudden severe turbulence, about 10 hours into a Singapore-bound flight from London Heathrow. The airline has said, the plane, a Boeing 777-300 year, was carrying 211 passengers and 18 crew members. That's all for now. This is Karushka Sarkar signing off. Stay tuned to CNBCV18 for more. (upbeat music) (upbeat music) (gentle music) You