Marketbuzz Podcast with Sonal Bhutra: Sensex, Nifty likely to open in the red

The global markets are quite mixed. We got a mixed handover from the US markets. The S&P and Nasdaq snapped their three-day losing streak. While Dow Jones was absolutely flat with some negative bias. Apple hit fresh new highs, so definitely something to track as far as the technology space is concerned. 

Asian markets are mixed yet again. Hang Seng is down 1.4 percent, Taiwan and China are shut for a holiday. But we do have Nikkei which is higher in trade today. Now core inflation numbers in Japan reported came in at 3.2 percent versus an estimate of 3.4 percent. Inflation in Japan is still above Bank of Japan's target of 2 percent. 

Bank of England hiked rates by 50 basis points versus an estimate of 25 basis points. This is the 13th-consecutive rate hike from Bank of England. So central bank action continues to be taking the centre stage yet again. 

As far as our own markets are concerned, Indian markets closed at the day's low after a lot of volatility. On Thursday, we were just one point away from the record high, but we could not attain that. Sensex was down 363 points from the record high levels of 63,602. It did hit a record high. Mid cap index nabbed its eight day winning streak. Nifty did get some support from the HDFC twins that is HDFC Bank and HDFC but Reliance was the one which acted as a drag. 

Now the immediate Nifty spot is at 18,757 and if we talk about Nifty Bank, it has been consolidating at the 20-day exponential moving average and it has just been hovering around those levels. So a breakout from your will be a key to track as well. 

FIIs sold Rs 693 crore in cash yesterday, DIIs bought Rs 219 crore. So flows are also in favour of a sell figure right now. So it is important to track because the SGX Nifty is indicating that the start could be in the red, 14 points lower, could be muted to a flattish start for our own markets.

Tune in to the Marketbuzz Podcast for more cues and news ahead of today’s session