MarketBuzz
1257: Marketbuzz Podcast with Kanishka Sarkar: Sensex, Nifty 50 headed for flat start, ITC, Honasa Consumer in focus
(upbeat music) - Good morning everyone. Welcome back to CNBC TV18's Market Pass podcast. This is your host, Kanishka Sarkar, bringing you all the important cues ahead of today's trading session. Well, the much awaited end media results are out and out. No estimates are enough. The AI giant surged past all of them during its quarterly results. The company's shares surged past the $1,000 mark for the first time in extended trading. The 10 for one stock split, meaning division of one share into 10 has also been announced. In media, we also pay a quarterly dividend of 10 cents. That is a 150% boost. For the quarter, NVIDIA reported revenue of $26.04 billion, and its earnings per share of $6.12 billion, also surpassed the $5.59 estimate. Now the results from NVIDIA proved that the AI boom is still in place. Demand remains robust, according to CEO Jen Sintuan, who says that the next generation AI chip called Blackwell will start contributing to the top line later this year and further few the already 100% growth. However, overnight in the US, the Dow Jones Industrial Average saw its worst day in May and declined a half a percent, while the SMB 500 lost 0.27%, and the NASDAQ composite dropped 0.18%. Minutes from the policy meeting of the Federal Open Market Committee have indicated apprehension from policy makers about when it would be time to ease. Now this morning, Asia-Pacific markets were mixed after minutes of the last US Federal Reserve meeting reveal that Fed officials concerns over sticky inflation, with members seemingly getting cold feet and possible interest rate cuts. Japan's Nikhaya climbed 0.6%, while the broad topics gained 0.2%. In contrast, South Korea's cost pay slipped 0.3%, while the small cap cost-act reversed losses and rose 0.2%. The Australian S&P ASX 200 lost about 0.8%, whereas Hong Kong's HangSeng index shed 1.5%, while the CSI 300 index dropped 0.38%. Oil prices eased for a fourth straight day today on values of the US borrowing costs could be height again if inflation surged, a move that would hurt oil demand. Brent Room Futures fell 27 cents or 0.3% this morning to 81.63 dollars a barrel. Now back home in the previous session, the NFTI gained for the fifth stay in Iran Wednesday. It is now at the make or break level of 22,600, sustaining above which will open dose for the index to make newer highs. Although the index is not seeing significant moves in the last five sessions, it continues to edge higher and has been making higher highs on the daily charts for the last seven trading sessions. Now, Thursday will be the weekly options expiry of the NFTI 50 contracts, which will be the penultimate weekly expiry for the May F&O series as well. The move seen by the NFTI in the last five sessions is ensured that the index is turned positive for the series only by just but has turned positive nonetheless. The market does remain in a weighted watch mode for the Lok Sabha election results. Even as the NFTI continues to edge higher, there is no significant move on either side on the index. But for today's training session, stocks like Glan Pharma, Jubilant Foodworths, Grasim, Garden Reach, Shipbuilders, Power Grid, Metro Brands, and Minta Cup among other NFTI and broader market names will react to their earnings results, which were reported after marketers on Wednesday. Now, the NFTI Heavyweight IPC reports results today, along with stocks like a barbecue nation, sell-o-world, phenolic cables, Fortas Healthcare, Hunasa Consumer, Ockit Pharma, Taiga Industries, steel strip wheels, and TV Power. Well, for today, the Giffnifti was trading with a discount of more than 10 points from NFTI futures Wednesday clues, indicating a flat to negative start for the Indian market. In some other important news from the world around, Arishi Sonak has announced that the UK's general election will be held on July 4th, saying it's time for the country to choose its future. Meanwhile, the Reserve Bank of India, on Wednesday announced that it will pay a record 2.1 lakh crore rupees dividend to the government for the fiscal ended March 31st, 2024. This is more than double of what was budgeted expectation. Now, this helps show up revenue ahead of the new government taking office. The RBI board has already approved the transfer of surplus. Now, this comes at a time when the central government aims to contain the fiscal deficit, or gap between expenditure and revenue, to 17.34 lakh crore rupees, that is 5.1% of the GDP during the current financial year. Experts believe that the higher than budgeted dividend payout will provide headroom to the new government to enhance expenditure and better manage the fiscal deficit. Well, those are the few cues to watch out for today. This is Candice Casselkar signing off. Stay tuned to CNDCV18 for more news and cues. [MUSIC PLAYING] [MUSIC PLAYING] [BLANK_AUDIO]