MarketBuzz
1292: Marketbuzz Podcast with Kanishka Sarkar: Sensex, Nifty 50 headed for gap-up opening, TCS, HCLTech in focus
(upbeat music) - Good morning everyone. Welcome back to CNBC TV18's Market Bus Podcast. This is your host, Kanishka Sarcad Kar bringing you all the important updates ahead of today's training session. While it goes without saying, tech stocks will be in focus today. A good set of earnings from TCS is likely to wait sentiment. Not only did TCS Q1 revenue and margin beat estimates, but the company says FI 25 will be better than FI 24. Brokerages are also positive on the TCS stock. UBS in fact has raised its target price to 4,600 rupees. Another ID stock to watch today is HCL Tech which is due to report its earnings after marketer today. Whereas Infosys will report on July 18th. Among other big names, Reliance Industries is due to report its earnings in next Friday, that is July 19th. But for the NFT 50, the template continues. The NFT holds firm at 24,300. While it finds supports between 24,150 and 24,200 levels, it continues to face hurdles at the 24,400 mark. That has been the pattern all through this week and the weekly options expiry session yesterday was no different. Traders have been happy to play the range as the market looks for more directional cues. But on the global front, hopes are rising that US Federal Reserve will eventually bite the bullet and start cutting interest rates by September. However, back home, RBI governor Shakti Gantadas in an exclusive interaction with CNBC TV18, has said that it is too soon to think of interest rate cuts. Meanwhile, the bulls would hope that the NFT finally catches up some pace on the final trading week on Friday. After a strong quarterly show by India's largest IT services companies, that is TCS. The performance from TCS may have a rub of effect on other IT companies too. Five others are which are part of the NFT 50. Of course, the IT index would need support from other index heavyweights as well that have had an indifferent week themselves. Now, besides TCS, stocks like Anandrati Wealth and GTPL Hathaway will also react to their quarterly results reported up to market hours on Thursday. Meanwhile, foreign investors were net sellers in the cash market on Thursday, while domestic investors were net buyers. For the week, the NFT is absolutely flat. Now, this morning, the gift NFT was trading with the premium of nearly 65 points from the NFT futures Thursday close, indicating a gap upstart for the Indian market. Now, looking at global queues, Asian stocks fell Friday, echoing declines on Wall Street as slowing US inflation sparked a rotation out of big tech. A god of Asian tech stocks fell as much as 3% reflecting clients of more than a percent in Japan and South Korea. Equities in Hong Kong and Australia gained while Chinese shares fluctuated. The NASDAQ 100 dropped over 2% on Thursday, weighed down by some of the year's biggest winners, including NVIDIA Corp and Microsoft. The moon's follow data are showing that US core consumer prices rose at the slowest pace since 2021, bolstering the case for federal reserve rate cuts. And optimism over lower rates has sparked a sector rotation from big tech into the likes of real estate and material companies. Among the other things to watch in Asia, economic reports due Friday include China trade, Japan industrial output and Indian inflation. China money supply and new loans data may also be released as soon as Friday. On the commodities front, West Texas intermediate, the US oil price rose for a third day Friday, held along by slowing inflation reports, whereas gold felled after a sharp rally on Thursday. That's all for now. Those are the few cues to watch out for today. This is Kanishka Sarkar signing off, have a good trading session and stay tuned to CNBC TV18 for more news and cues. (upbeat music) [MUSIC PLAYING] [BLANK_AUDIO]