MarketBuzz
1258: Marketbuzz Podcast with Kanishka Sarkar: Sensex, Nifty 50 likely headed for flat start, Hindalco, IndiGo in focus
[MUSIC PLAYING] Good morning, everyone. Welcome back to CNBC TV18's Market Bus Podcast. This is your host, Konniskasar Kar, bringing you all the important cues ahead of today's session. With nearly a fortnight left for the results for looks of her polls, benchmark stock indices since X and Nifty have zoomed more than 1 and 1/2% to close at lifetime highs, making investors richer by 4.2 lakh crore rupees on Thursday, regaining the $75,000 level. The BSE ended at an all-time high of $75,418 up by almost 1,200 points, whereas the NSE Nifty inch closer to the $23,000 mark during the day, and it ended 370 points higher. Thursday's weekly expiry saw the Nifty come within seven points of the $23,000 mark, but failed to get past that level, eventually closing 33 points and drift up the same. Nonetheless, it was a day to remember for the polls after a prolonged period of volatile consolidation. What will give polls further comfort is the fact that underperforming banks finally put their hand up, taking the Nifty bank out of its broad range as well. Three out of top five point contributors on the Nifty 50 on Thursday were banking majors. Reliance Industries, the other index heavy weight, also pushed the Nifty higher along with Lassen and Tubero. And the market may have made new records, but the Wix has not cooled off in equal proportion. Although the index ended 0.4% lower on Thursday, it remains above the mark of 21, and analysts suggest that it will continue to remain at elevated levels till the results of the Lok Sabha elections that are due to be declared on June 4th. Now, today's trading session will see stocks like BKG, JK Lakshmi Cement, Zaggle prepared among others to react to their results. Whereas stocks like ITC and Page Industries also reported their earnings during market hours on Thursday. Now, Hindalco, Bosch, Torrent Pharma, United Spirits, Ashok Leyland, Glennmark Pharma, Manapuram, Karnataka Bank, Bharad Dynamics, among others will report their results today. Now, globally, overnight in the US, the Dow Jones Industrial Average marked its worst session of the year, as it slid one and a half percent with aircraft manufacturer Boeing falling more than 7%, which was the biggest logger in the index. S&P 500 dropped 0.7%, whereas the NASDAQ composite tumbled 0.3%. Earlier in the session, both the broad market index and the tech heavy benchmark had hit record highs. Asian stocks this morning tracked Wall Street lower, following activity data that signaled that the Federal Reserve may keep rates on hold for most of this year. Stocks fell in Australia and Japan, while equity futures in Hong Kong pointed to losses of more than 1% had opened on Friday. The Golden Dragon Index of US listed Chinese shares fell 3.7% on Thursday, the most in six weeks. US contracts were steady after the S&P 500 fell the most this month, and the Dow Jones average lost 1.5%. Now, in commodities, oil steady this morning after slipping in its previous session, as traders weighed in signs of a weakening physical market ahead of the start of the US summer driving season, elsewhere, gold health Thursday's losses following the US economic data. Lastly, back home, gift NFT was in green at the time of recording the podcast, trading marginally higher from the NFT futures Thursday close, indicating a muted, but most likely a start in the green for the domestic market. But those were the few cues to watch out for today. This is Kannishka Sarkar signing off, have a good trading session, and stay tuned to see NFTVAT for more news and cues. (upbeat music) (upbeat music) [MUSIC PLAYING] [BLANK_AUDIO]