MarketBuzz
1288: Marketbuzz Podcast with Kanishka Sarkar: Sensex, Nifty 50 likely to open flat, Titan, Dabur in focus
Good morning, everyone. Welcome back to CNBC TV18's Market Bus Podcast. This is your host Kanishka Sarkar bringing you all the important updates ahead of today's trading session. Well, all of last week on the NFTI was dominated by two stocks and one theme. The two stocks being Reliance Industries and HDFC Bank, while IT was the theme that continued to hog the limelight. If one took the market higher, the other ensured that gains were kept in check and vice versa. In three out of five trading sessions last week, it was IT that lent support to the market. And while on Friday, it fell as if the NFTI would eventually snap its streak of gains with some profit-booking at higher levels. "Curtsey of the fall in HDFC Bank and No Show from IT. It was a sharp spike in Reliance Industries towards the close of trade that triggered a swift recovery in the index, ensuring that it ended in the green." With HDFC Bank being the only one pulling the NFTI lower after a week quarterly business update, Reliance, L&T, SBI and HUL contributed to the recovery. For the week, NFTI ended more than a percent higher. Not today, multiple stocks will react to their quarterly business updates that were reported on Friday and over the weekend, like Titan, Indusin Bank, Marico, Dabur and others. Earning season also begins in the upcoming week with PCS reporting results on July 11th followed by HCL Tech on July 12th. Looking at global queues, Asia-Pacific markets open mixed this morning as investors awaited key economic data from the US and China later this week, while election results in France overnight signaled a hunk parliament. France is left to bring new popular French collusion on Sunday unexpectedly thwarted a far-right advance, clinching the largest number of seats but falling short of an absolute majority in a parliamentary run-off vote. Investors await the US consumer price index reading as well, which is due Thursday's state side, to assess the Federal Reserve's interest rate path, while China's inflation figures on Wednesday will signal the state of the country's economic recovery. On Friday in the US, the S&P 500 and the NASDAQ composite rose to new highs with both indexes posting a record close as the latest jobs report reignited hopes for rate cuts from the Federal Reserve. The broad-market index advanced half a percent while the tech heavy NASDAQ gained almost a percent, whereas the Dow Jones Industrial Average added 0.17%. Meanwhile, a workers union at Samsung Electronics in South Korea is set to stage a three-day strike from Monday and has warned that it could take further action against the country's most powerful conglomerate at a later date. The National Samsung Electronics Union, whose roughly 28,000 members make up over a fifth of the firm's workforce in South Korea, is demanding that the company improve its performance-based Pona system and give workers an extra day of annual leave. It is not immediately clear how many workers will join this strike, but the union's poll found that 8,100 members saying they would do so as of Monday morning. Now, in more news from back home, Prime Minister Narendra Modi is set to meet President Vladimir Putin in Moscow today, marking his first visit to Kremlin since the invasion of Ukraine. The meeting is significant as it is via Modi's first bilateral trip overseas since he was re-elected for a rare third term in June. Also, heavy rainfall has lashed Mumbai, the financial capital of the country and its surrounding areas overnight and continued early morning as well. Many parts across the city are waterlogged while the Western Express Highway witnessed traffic congestion even before 7am, including the rose leading to terminals 1 and 2 of the Mumbai airport. Local trains, the lifelines of Mumbai were running late due to walk-through logging, and CSMTE, Kohla Vikrali and Bandop were among the most affected stations. In fact, a holiday has been declared for the first session for all schools in Mumbai. Decision on the second session will be taken soon. So, Mumbai cuts to plan your day in advance. Well, that's all for now. Stay tuned to see and be Stevie 18 for more news and Q. [MUSIC] [BLANK_AUDIO]