Marketbuzz Podcast with Ekta Batra: Sensex, Nifty 50 may open flat; all eyes on Fed minutes
Episode 1047, Jul 05, 2023, 03:20 AM
Indian benchmark indices — Sensex and Nifty 50 — are likely to open little changed on July 5 amid caution due to concerns of escalating trade conflict between the US and China, and as investors await the US Federal Reserve's June monetary policy meeting minutes.
The momentum, however, continues for the domestic markets considering that the markets hit a record high for the fourth consecutive day.
In terms of global markets, the US markets are closed on account of Independence Day. Asia, however, is largely lower due to services activity slowing both in China as well as Japan.
Brent crude is hovering at around $75 per barrel.
Indices and queues to watch out for include midcaps that are underperforming while financials are outperforming.
In the US, investors await the minutes of the Fed's June policy meeting, due at 11:30 pm tonight, for cues into the monetary policy trajectory. While recent data after the June Fed meeting signalled moderation in inflation, the odds of a 25 basis points rate hike in its upcoming July 26 meeting stood at 86.2 percent, according to Reuters.
Tune in to Marketbuzz Podcast for more cues and news to track ahead of today’s session
The momentum, however, continues for the domestic markets considering that the markets hit a record high for the fourth consecutive day.
In terms of global markets, the US markets are closed on account of Independence Day. Asia, however, is largely lower due to services activity slowing both in China as well as Japan.
Brent crude is hovering at around $75 per barrel.
Indices and queues to watch out for include midcaps that are underperforming while financials are outperforming.
In the US, investors await the minutes of the Fed's June policy meeting, due at 11:30 pm tonight, for cues into the monetary policy trajectory. While recent data after the June Fed meeting signalled moderation in inflation, the odds of a 25 basis points rate hike in its upcoming July 26 meeting stood at 86.2 percent, according to Reuters.
Tune in to Marketbuzz Podcast for more cues and news to track ahead of today’s session