Marketbuzz Podcast with Kanishka Sarkar: Sensex, Nifty 50 headed for gap-up opening, HUL, LTIMindtree in focus

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Hello and welcome to CNBC-Tv18’s Marketbuzz Podcast. Here are all the important cues ahead of the trading session of April 24

– The US equity market continues to slowly regain its confidence. In the overnight session, all three major indexes climbed for a second straight session following a strong batch of corporate earnings.

– Japan’s Nikkei led the Asian markets this morning as markets in the region rose across the board. The Japanese benchmark jumped more than 2%.

-Oil prices rose in early trade adding to gains in the previous session, after industry data showed a surprise drop in US crude stocks last week, a positive sign for demand, and attention shifted away from hostilities in the Middle East.

-Gold prices steadied last night after hitting a more than two-week low on diminishing fears about an escalation of tensions in the Middle East. Now investors await key economic data for further clarity on the timeline on US interest rate cuts.

– Nifty 50 closed below the 61.8% retracement level yesterday. Two of the biggest Nifty 50 constituents in terms of weightage – HDFC Bank and Reliance Industries both reported their results, and neither played any part in taking the Nifty further higher despite some positive surprises in each of their results.

-Ahead of its weekly expiry on Wednesday, the Nifty Bank also remained rangebound showing no significant activity in price action. HDFC Bank kept the gains in check, while Axis Bank remained flat ahead of its quarterly earnings on Wednesday.

-Earnings today: Hindustan Unilever, Axis Bank, LTIMindtree, Indian Hotels, Macrotech, Dalmia Bharat, Nippon Life AMC, Oracle Financial, Syngene

-Stocks to track: Tata Consumer, Tata Elxsi, MCX, ICICI Prudential, Cyient DLM, NELCO, IIFL Finance, Lupin, Rama Steel Tubes, NHPC, Gokaldas Exports

-GIFT Nifty was trading with a premium of nearly 90 points, indicating a gap-up start for the Indian market.

Tune in to Marketbuzz Podcast for more news and cues

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow