Marketbuzz Podcast with Ekta Batra: Sensex and Nifty 50 likely to open marginally higher
Episode 1072, Aug 09, 2023, 03:13 AM
Marketbuzz Podcast with Ekta Batra: Sensex and Nifty 50 likely to open marginally higher
Indian benchmark indices — Sensex and Nifty 50 — are likely to open marginally higher on August 9 after China's consumer prices logged a smaller-than-expected fall in July, ahead of U.S. inflation data and Reserve Bank of India's (RBI) policy decision due this week.
The Indian rupee is expected to struggle at the opening on Wednesday in the wake of the dollar index's move higher on weak risk appetite.
The US markets closed lower in the overnight session, with concerns about bank stability capping sentiment. Asian shares were on the defensive after China inflation data confirmed the recovery in the world's second-biggest economy is losing steam.
The GIFT Nifty was indicating an implied open off a little bit of a negative bias for the Indian market.
Brent is at around $86 per barrel.
The markets are likely to now focus on the macros versus micros as the earning season is coming to a close.
The US CPI data for July is due to be released on Thursday while India’s Reserve Bank of India (RBI) will make the bi-monthly policy announcement on the same day and is likely to hold the current interest rates.
Among quarterly results due today are that of Tata Power, Zee Entertainment Enterprises, Abbott India, Berger Paints India, and Bharat Forge among others.
Tune in to the Marketbuzz Podcast for more news and cues ahead of today’s session
Indian benchmark indices — Sensex and Nifty 50 — are likely to open marginally higher on August 9 after China's consumer prices logged a smaller-than-expected fall in July, ahead of U.S. inflation data and Reserve Bank of India's (RBI) policy decision due this week.
The Indian rupee is expected to struggle at the opening on Wednesday in the wake of the dollar index's move higher on weak risk appetite.
The US markets closed lower in the overnight session, with concerns about bank stability capping sentiment. Asian shares were on the defensive after China inflation data confirmed the recovery in the world's second-biggest economy is losing steam.
The GIFT Nifty was indicating an implied open off a little bit of a negative bias for the Indian market.
Brent is at around $86 per barrel.
The markets are likely to now focus on the macros versus micros as the earning season is coming to a close.
The US CPI data for July is due to be released on Thursday while India’s Reserve Bank of India (RBI) will make the bi-monthly policy announcement on the same day and is likely to hold the current interest rates.
Among quarterly results due today are that of Tata Power, Zee Entertainment Enterprises, Abbott India, Berger Paints India, and Bharat Forge among others.
Tune in to the Marketbuzz Podcast for more news and cues ahead of today’s session