MarketBuzz
1280: Marketbuzz Podcast with Kanishka Sarkar: Sensex, Nifty 50 likely to open in red amid mixed global cues
Good morning, everyone. Welcome back to CNBC TV18's Market Bus Podcast. This is your host Kannushka Sarkar bringing new top developments from around the world ahead of today's trading session. The Indian market continues to hit new highs with large buying from foreign investors yesterday. If you compare Monday's low to Tuesday's high for the NFT, the index searched exactly 400 points to make new highs. 23,751 now becomes the new record high for the NFT 50. The index is now up by well over 1,200 points for the June F&O series with two more trading sessions to go. Financials provided leadership to the market yesterday. Four out of five top gainers on the NFT 50 index were private financials, including Sri Ram finance with the newest entrants on the index. The NFT gained 183 points on Tuesday. Three quarters or 75% or 138 of those points came from three banking heavyweights. HTSC Bank, Access Bank and ICICI Bank. ICICI Bank confused across $100 billion in market cap, becoming the sixth Indian enterprise to do so. HTSC Bank too has been witnessing its past month of 2024 and that continued with the stock now turning positive for the year. The question asked now is can the NFT sustain a single sector led rally? Bar in the banks, the rest of the market has relatively been sulking through the day. However, Nagarad Shetty of HTSC security says that the market is now showing signs of upside breakout in the near term. The next upside levels to be washed out for around 24,000. Immediate support is now at 23,550. LKP security is a rupe a day also says that the NFT will remain strong in the short term till it sustains above 23,500 mark and move higher towards the 24,000 level. Now this morning, the gift NFT was trading with a discount of nearly 30 points from NFT futures to stay close, indicating a star in the red for the Indian market. Some of the stocks to watch out include CE info systems in which promoter Rakesh Kumar Verma tends to sell up to 0.9% of the total equity through a block deal. Finally, industry promoters, Ambuja Simmons and Ravi Sanghir also to sell up to 3.5% stake in the company through an offer for sale on June 26th and 27th. Meanwhile, Marzgan dog ship builders have been granted Naverak n status by the government. Yes, Bank shares will be in focus as well as the lender is to consider raising funds via debt securities on August 23th. Vishnu Prakash, R. Punglia has got Eloe from the Yupi Jalnigam, Denny Preyagraj for surveying soil investigation, engineering, design and supply of all materials for the water supply scheme in Preyagraj. The contract value is worth 270 crore rupees. Mehendra and Mehendra finance will also be in focus as Vaykar Vay, the CFO of the company, is split to pursue other interests beyond full-time employment. Lastly, NTPC Boris to meet on June 29th to consider fundraising. In terms of global queue, stocks in a shutrain water this morning as federal reserve officials say they wanted more evidence of cooling inflation before lowering interest rates. Hong Kong and mainland China equity goddess fell at the open. Stocks declined in Australia while those in Taiwan, Japan and South Korean rose. A gosh of Asian stocks was little changed. U.S. futures steady the nation trading up to NDDA shares rebounded on Tuesday. The also rose as inflation reading bid estimates. U.S. consumer confidence is eased on a more new-to-route look for business conditions, the job market and incomes. But overnight in the U.S., the Dow Jones industrial average decline, shedding 0.7 percent and closing at 39,100, and led by NVDR rebound, the broad market S&P 500 added 0.3 percent while the Nasdaq composite advanced more than a percent with both indexes ending three-day losing streets. Although for the few few's to watch out for today, this is the 10-inch-percent card signing-off. [MUSIC]