Marketbuzz Podcast with Reema Tendulkar: Sensex, Nifty 50 set to open higher after Fed hikes rate
Episode 1063, Jul 27, 2023, 03:21 AM
Indian benchmark indices — Sensex and Nifty 50 — are set to open marginally higher on July 27 after the US Federal Reserve hiked rates by 25 basis points as expected and reiterated its data-dependent approach to further policy tightening.
India's GIFT Nifty on the NSE International Exchange was up 0.10 percent at 20,004 as of 8:12 am.
Asian markets are holding up in the green despite the flat close on Wall Street in the overnight session. The United States Federal Reserve has hiked rates by 25 basis points and unexpectedly, it has kept the door open for future rate hikes as well. The next one will likely be in September.
Meanwhile, back home in the Indian market, after three days of consolidation, yesterdayNifty 50 went very close to the 19,800 mark. There was some activity on the front line aided by stocks like Reliance Industries, L&T, ITC, and Tata Motors.
The third cue is that the July expiry is today which the market participants will closely watch.
Today’s session is likely going to be all about individual stocks. Axis Bank's bottom line looked ahead of what the Street was anticipating, but the core operating profit came in lower than projections and worse compared to other peers like ICICI Bank and Kotak Mahindra Bank.
Dr. Reddys reported a pretty decent set of numbers, so the stock is likely to witness a stock reaction. Tech Mahindra was a big miss with revenue falling by more than 4 percent on a quarter on quarter basis, EBIT margin down to 6.8 percent, which is the lowest amongst the peers. Colgate saw a good set of numbers with an all round beat.
Market watchers must also keep an eye out on RBL Bank because Mahindra and Mahindra says it has acquired a 3.53 percent stake in the company and is open to acquiring more but under no circumstances will it cross 9.9 percent.
Tune in to Marketbuzz Podcast for more cues ahead of today’s trading session
India's GIFT Nifty on the NSE International Exchange was up 0.10 percent at 20,004 as of 8:12 am.
Asian markets are holding up in the green despite the flat close on Wall Street in the overnight session. The United States Federal Reserve has hiked rates by 25 basis points and unexpectedly, it has kept the door open for future rate hikes as well. The next one will likely be in September.
Meanwhile, back home in the Indian market, after three days of consolidation, yesterdayNifty 50 went very close to the 19,800 mark. There was some activity on the front line aided by stocks like Reliance Industries, L&T, ITC, and Tata Motors.
The third cue is that the July expiry is today which the market participants will closely watch.
Today’s session is likely going to be all about individual stocks. Axis Bank's bottom line looked ahead of what the Street was anticipating, but the core operating profit came in lower than projections and worse compared to other peers like ICICI Bank and Kotak Mahindra Bank.
Dr. Reddys reported a pretty decent set of numbers, so the stock is likely to witness a stock reaction. Tech Mahindra was a big miss with revenue falling by more than 4 percent on a quarter on quarter basis, EBIT margin down to 6.8 percent, which is the lowest amongst the peers. Colgate saw a good set of numbers with an all round beat.
Market watchers must also keep an eye out on RBL Bank because Mahindra and Mahindra says it has acquired a 3.53 percent stake in the company and is open to acquiring more but under no circumstances will it cross 9.9 percent.
Tune in to Marketbuzz Podcast for more cues ahead of today’s trading session