MarketBuzz
1281: Marketbuzz Podcast with Kanishka Sarkar: Sensex, Nifty 50 likely to start lower, telecom, DRL shares in focus
Good morning everyone. Welcome back to CNBC TV18's Market Bus Podcast. This is your host Kanishka Sartkar bringing you all the important updates ahead of today's trading session. Well it's been a super brand for the markets this week with a mix of reliance, telecom and bank led gains yesterday at record highest continue in the market. Well the NFT is now up 10% in the past six months. Yesterday reliance industries ended at record high with market capitalization of 20.5 lakh crore rupees. Now it remains to be seen if there is more steam left in the stock. The last few trading sessions have all been about large gap stocks whether it is banks, lands industries or Bhati et al and even LNT. This large gap rally has put the broader markets on the back burner something that has not happened often in the last 18 months or so. Now both mid cap NFT and NFT's small cap indices continued to struggle for momentum on now Wednesday as well. Real estate sold off for the second day running as did metal stocks. Profit booking was also witnessed in auto stocks but the Siemens sector stood out with more stocks witnessing gains between 2-4%. In fact India Siemens emerged as the out performer ending 14% higher. Today that is June 27th will be the monthly expiry for the June F&O series for the NFT 50 contracts until the final day the NFT has gained 1400 points so far in this series making it the best F&O series in many years. The April F&O series of 2020 had seen the NFT gain over 1200 points and now the NFT is just 130 points away from the mark of 24,000. Now this morning the get NFT was trading lower at a discount of only 70 points from NFT futures Wednesday close indicating a start in the red for the Indian market. A couple of stocks to watch out for. Reliance industries will be in focus as geo-consolidate leadership position by acquiring the right to use spectrum in the 1800 megahertz band in two circles. It required the spectrum at a provisional cost of 973 therapies. Dr. Reddy's laboratory will acquire a nicotonyl and related portfolio in a significant step towards building global consumer health care business. P.I. industries shares will also be in focus as its wholly owned subsidiary will acquire the entire shy capital of plant health care UK based agriculture biological inputs company. The company will pay 32.78 billion euros to acquire the entire 100% stake. CSB branches will be tried as well as FH Mauritius is looking to sell 9.7% stake via a block deal. Arcane chemicals will be in focus as India research and spans scheme 1 and 2 along with pyramal natural resources are likely to sell 1.25 cro shares of 10.13% of their total equity via block deals valued at 818 crore therapies. Bodopon idea has acquired 50 megahertz of spectrum across low-band and mid-band spectrum in 11 circles for a total concentration of 3510 crore in the recently concluded spectrum auction. INOC's energy is to raise up to 1050 crore through a preferential issue of shares in warrants. SJBN will be in focus as well as it is in 10 uh MOU with AM ammonia as per the MOU both parties have agreed to cooperate with each other for supply and sourcing of renewable energy on a long-term basis for green ammonia plants on mutually agreed terms and conditions. Now KEC international has received new orders worth 1000 crore rupees in the TND and cable business. Supreme industries on the other hand has got an LOA from Indian oil for a supply of 10 kg composite cylinders worth 55 crore rupees. RBNL will also be tracked as a joint venture with KR-DCL has got an LOA for a project worth 156 crore rupees from the southern railway. JSW energy arm JSW NIO has signed a power purchase agreement for wind and solar projects with the cumulative capacity of 1325 MW. The PPAs include 125 MW with solar energy cooperation of India and 300 with Gujarat Uja Vikasnigam. Lastly India Siemens will be excluded from the F&O segment after the August series. Now in terms of global queues, share in Asia fell this morning after US tech companies dropped in late US trading while the yen stabilized after Wednesday's slide that triggered fresh speculation that officials will step into support the currency. Stocks in Japan, Australia and China all declined putting the MSCI Asia Pacific equity garden course for its first last in three days. US equity futures slipped after big tech was hit by micron technologies outlook that failed to meet the lofty expectations for the industry that has powered the bull market in stocks. The yen was marginally higher Thursday after dropping 0.7% in the prior session when it slipped to $160.87 per dollar the week is since 1986 and well past the level where officials intervened in April. The currency has lost more than 12% against the greenback this year. Now micron technology shares clamped after the maker of the computer memory chips projected sales that trails the estimates of some investors. The news dragged down some chip makers including giant Nvidia comp overnight in the US the Dow Jones industrial average added 0.04% while the S&P 500 rose 0.16% and the NASDAQ composite gained half a percent. The NASDAQ's climb was led by Amazon shares which recorded almost 4% jump. The stock hit an all-time high and reached $2 trillion in market value for the first time on Wednesday joining Nvidia, Apple, Alphabet and Microsoft. Also after the Wall Street's close the federal reserve said the biggest US banks passed the annual stress test paving way for higher shareholder payouts. In commodities gold mostly held Wednesday's decline where it fell to the lowest level in around three weeks. Among events to track back home are the June expiry series. Sebi Chief Madhabi Puri Birch will address the media at 6 p.m. today. Sebi is likely to tighten rules for stocks to be eligible for derivative trading and asks brokers and mutual funds to stop enlisting unregistered financial influencers for their marketing campaigns. The board will also consider changes to delisting rules to make it easier for companies to exit from stock markets. While those are the few cues to watch out for today, lastly for all your cricket fans out there don't forget to wrap up work quickly today to enjoy the India vs England match at 8 p.m. tonight. While this is Kannushka Sarkar signing off stay tuned to CNBC TV18 for more news and views. [BLANK_AUDIO]