Marketbuzz Podcast With Vivek Iyer: Sensex, Nifty 50 likely set for a gap down opening

Episode 1083,   Aug 25, 2023, 03:30 AM

Today, we are looking at a very subdued set of cues form overnight markets. Dow Jones witnessed the worst session yesterday since March 2023. Markets are on tenterhooks ahead of US Fed Chair Jerome Powell's speech at the Jackson Hole symposium later today. Crude futures, crude oil prices continued on their downward trend. Yesterday ended flat with a negative bias with brent futures ending close to the $83 a barrel mark Indian markets on Thursday, being the weekly expiry, witnessed sharp selling pressure in the second half, with both Nifty and Nifty Bank giving up over a percent from their intre-day highs.The broader end of the markets continued their outperformance, with the midcap index continuing near its the lifetime high levels. Yesterday's session was however largely dominated by large block deals that happened -- Coforge, Mannnapurram Finance, etc. 

Today, we are looking at a very subdued set of cues form overnight markets. Dow Jones witnessed the worst session yesterday since March 2023. Markets are on tenterhooks ahead of US Fed Chair Jerome Powell's speech at the Jackson Hole symposium later today.

Crude futures, crude oil prices continued on their downward trend. Yesterday ended flat with a negative bias with brent futures ending close to the $83 a barrel mark

Indian markets on Thursday, being the weekly expiry, witnessed sharp selling pressure in the second half, with both Nifty and Nifty Bank giving up over a percent from their intre-day highs.

The broader end of the markets continued their outperformance, with the midcap index continuing near its the lifetime high levels. Yesterday's session was however largely dominated by large block deals that happened -- Coforge, Mannnapurram Finance, etc. 

The trend is set to continue today as well with large blocks expected in Amber Enterprises and also in auto-anciallary company Uno Minda. 

Primary market activity too is quite hectic with Aerospace Industries oversubscribed over 97 times at the end of day three. Vishnu Prakash, which is an infrastructure EPC company, also witnessed an oversubscription of over 3.7 times.

Asian markets as well as GIFT Nifty are indicating a gap down start for our own markets.

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

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