Marketbuzz Podcast with Kanishka Sarkar: Nifty 50 headed for gap-up start, Titan, Kotak Mahindra Bank 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 important cues to track ahead of the trading session on May 6

-The US April jobs report has come in softer-than-expected. Job growth eased to 175,000 compared to 269,000 average gain over the prior three months. The unemployment rate rose from 3.8% in March to 3.9% in April.

-On Friday in the US, stocks jumped sharply after a softer-than-expected April jobs report. The S&P 500 surged 1.26% to notch its best day since February, while the Nasdaq Composite rallied 1.99%. The Dow Jones Industrial Average gained 1.18%.

-Fed policy expectations saw a sharp dovish repricing last week. Interest rate markets now imply about 45% probability of a 25 bps rate cut by July.

-Asia-Pacific markets this morning tracked Wall Street gains. Investors, meanwhile, awaited the Reserve Bank of Australia’s rate decision on Tuesday and China’s April trade data on Thursday.

-The Gift Nifty suggests the Indian market is likely headed for a gap up start. Gift Nifty was trading at a premium of more than 100 pts from Nifty Futures’ Friday close.

-On Friday, foreign institutions were heavy sellers during Friday’s trading session in the cash market, while domestic institutions were net buyers.

-Nifty 50 recovered 120 points from intraday but closed below the 22,500 mark.Crossing that level will be the key for the index first up, as it has been a key support in recent times.

-Earnings season continues with some big Nifty names reporting results after market hours on Friday and over the weekend. Prominent among them is Kotak Mahindra Bank. Other stocks that reported results over the weekend include Titan, Britannia, Avenue Supermarts, and Inox Wind.

-Earnings today: Godrej Consumer, Marico, Gujarat Gas, CG Power, Happiest Minds, Lupin and others.

-Stocks to track: Paytm, Zen Technologies, Tata Technologies, Kansai Nerolac Paints, IDBI Bank, Aurobindo Pharma, Adani Ports Group, Ujjivan Small Finance Bank, Paytm

Tune in to the Marketbuzz Podcast for more cues

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