Marketbuzz Podcast with Ekta Batra: Sensex, Nifty 50 set to open flat amid cautious global cues
Episode 1070, Aug 07, 2023, 03:13 AM
Indian benchmark indices — Sensex and Nifty 50 — are set for a muted start on August 7, tracking Asian peers, on caution ahead of US and China inflation data as well as the Reserve Bank of India's monetary policy decision due later this week.
India's GIFT Nifty on the NSE International Exchange was up 0.09 percent at 19,607.50, as of 7:56 am.
On Friday, the market snapped its three day losing streak, however, the markets were down for the second straight week.
One of the key cues to watch out for is the FII net selling in the cash market. FIIs have net sold for the seven consecutive sessions.
Meanwhile, the global markets looked a bit tentative. The US jobs data 187,000 jobs added in July versus estimates of 200,000 oil has risen for the sixth straight week.
There is some amount of upmove taking place in terms of oil prices. It must be noted that India is a net importer of oil and hence higher oil prices is a negative for us.
Asian markets were largely mixed, with the GIFT Nifty indicating a marginally higher start for India.
The Street will also track moves in the State Bank of India (SBI) stock, which posted its results on Friday.
Also, the Reserve Bank of India will also announce its policy decision on Thursday. The central bank kept rates unchanged in April and June, after hiking them by 250 basis points in the fiscal 2023.
Tune in to the Marketbuzz Podcast for more cues ahead of today’s session
India's GIFT Nifty on the NSE International Exchange was up 0.09 percent at 19,607.50, as of 7:56 am.
On Friday, the market snapped its three day losing streak, however, the markets were down for the second straight week.
One of the key cues to watch out for is the FII net selling in the cash market. FIIs have net sold for the seven consecutive sessions.
Meanwhile, the global markets looked a bit tentative. The US jobs data 187,000 jobs added in July versus estimates of 200,000 oil has risen for the sixth straight week.
There is some amount of upmove taking place in terms of oil prices. It must be noted that India is a net importer of oil and hence higher oil prices is a negative for us.
Asian markets were largely mixed, with the GIFT Nifty indicating a marginally higher start for India.
The Street will also track moves in the State Bank of India (SBI) stock, which posted its results on Friday.
Also, the Reserve Bank of India will also announce its policy decision on Thursday. The central bank kept rates unchanged in April and June, after hiking them by 250 basis points in the fiscal 2023.
Tune in to the Marketbuzz Podcast for more cues ahead of today’s session