Marketbuzz Podcast with Reema Tendulkar: Sensex, Nifty 50 likely to open in green as global peers gain
Episode 1114, Oct 11, 2023, 03:23 AM
Indian benchmark indices — Sensex and Nifty 50 — are likely to open with minor gains on October 11, tracking global peers amid easing US rate concerns and stability in oil prices.
In the previous session on October 10, the Nifty 50 closed just shy of 19,700. There was a 0.9% move in Sensex and Nifty 50 while IT caps outperformed with 1.4%.
Meanwhile, on Wall Street, the S and P 500 gained half a percent and the Nasdaq rallied 0.7%. This was on the back of the easing of the U.S. 10-year bond deal and oil prices that have remained steady despite the conflict continuing in the Middle East. Oil prices have been steady for the last two days with Brent currently hovering around $88 per barrel.
In the domestic market, the level to watch on the Nifty immediately will be the 20-day moving average at 19,769.
Among stocks, TCS will be tracked even as its results for the September quarter will be released only post-market. It is likely to be a muted quarter with just 0.8% sequential top-line growth, according to a CNBC-TV18 poll of analysts. The focus will be more on the commentary as the street expects a recovery in the 2024-25 fiscal.
Another thing to track would be the buyback that the company said it would consider today.
Delta Corp will also announce its quarterly earnings later in the day.
Meanwhile, Bank of Baroda has banned the onboarding of new customers on its mobile app, which is to moderate the pace of new customer acquisition to some extent.
Also, confirming the CNBC-TV18 newsbreak, MCX has said it will go live with its new platform on October 16.
Tune in to the podcast for more news and cues ahead of the session
In the previous session on October 10, the Nifty 50 closed just shy of 19,700. There was a 0.9% move in Sensex and Nifty 50 while IT caps outperformed with 1.4%.
Meanwhile, on Wall Street, the S and P 500 gained half a percent and the Nasdaq rallied 0.7%. This was on the back of the easing of the U.S. 10-year bond deal and oil prices that have remained steady despite the conflict continuing in the Middle East. Oil prices have been steady for the last two days with Brent currently hovering around $88 per barrel.
In the domestic market, the level to watch on the Nifty immediately will be the 20-day moving average at 19,769.
Among stocks, TCS will be tracked even as its results for the September quarter will be released only post-market. It is likely to be a muted quarter with just 0.8% sequential top-line growth, according to a CNBC-TV18 poll of analysts. The focus will be more on the commentary as the street expects a recovery in the 2024-25 fiscal.
Another thing to track would be the buyback that the company said it would consider today.
Delta Corp will also announce its quarterly earnings later in the day.
Meanwhile, Bank of Baroda has banned the onboarding of new customers on its mobile app, which is to moderate the pace of new customer acquisition to some extent.
Also, confirming the CNBC-TV18 newsbreak, MCX has said it will go live with its new platform on October 16.
Tune in to the podcast for more news and cues ahead of the session