Marketbuzz Podcast with Kanishka Sarkar: Sensex, Nifty 50 likely to start in green, BHEL, Oil India in focus
Episode 1255, May 21, 02:39 AM
Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are all the important cues ahead of the trading session of May 21
-It’s a truncated week as the markets were closed on Monday due to voting in Mumbai in the fifth phase of Lok sabha elections 2024.
-In the special trading session on Saturday, the Nifty clawed back above the mark of 22,500, which is one of the two levels the charts were pointing towards once the index sustained above 22,300. All of the losses from the week earlier were recovered as it went up 2% in the extended week gone by, bringing the Nifty back to where it was at the start of the month.
-The Nifty Bank has now sustained above the level of 48,000 for two days in a row and chartists have been wanting the index to sustain above that level for a potential move towards 48,500 on the upside. The index has gained in five out of the last six trading sessions and managed to recover half of the 3.1% fall it had in the week prior to last.
-The other positive aspect for the domestic market is that foreign institutions turned net buyers in the cash market during Friday's trading session. This happened for the first time in the month of May.
-Results today: BHEL, NMDC, PI Industries, IRCON, JK Tyre, GSFC, Metropolis, Laxmi Organic, VA Tech Wabag, Gulf Oil
-Stocks to watch out for are SAIL, Ujjivan Small Finance Bank, Anupam Rasayan, India Cements, Whirlpool of India, City Union Bank, Lupin, Biocon, Oil India, Patanjali Foods
-Overnight in the US, the Dow Jones Industrial Average lagged the broader market, in contrast to the Nasdaq, as JPMorgan Chase led losses.
-All eyes will now be on Nvidia that reports earnings on wednesday. Nvidia shares gained more than 2% overnight on multiple bullish analyst calls that highlighted the company’s preeminent market position.
-Asia-Pacific markets started mixed this morning. Investors in Asia will be watching for any spillover effect on companies up and down Nvidia’s value chain, such as Taiwan’s TSMC and Foxconn, as well as South Korea’s Samsung Electronics and SK Hynix.
-Oil prices fell in early Asian trade this morning, with investors anticipating higher-for-longer U.S. inflation and interest rates will depress consumer and industrial demand. Brent crude futures declined to $83.34 a barrel.
-GIFT Nifty traded with a premium of more than 60 points this morning from Nifty Futures' Friday close, indicating a start in the green for the Indian market
Tune in to the Marketbuzz Podcast for more cues
-It’s a truncated week as the markets were closed on Monday due to voting in Mumbai in the fifth phase of Lok sabha elections 2024.
-In the special trading session on Saturday, the Nifty clawed back above the mark of 22,500, which is one of the two levels the charts were pointing towards once the index sustained above 22,300. All of the losses from the week earlier were recovered as it went up 2% in the extended week gone by, bringing the Nifty back to where it was at the start of the month.
-The Nifty Bank has now sustained above the level of 48,000 for two days in a row and chartists have been wanting the index to sustain above that level for a potential move towards 48,500 on the upside. The index has gained in five out of the last six trading sessions and managed to recover half of the 3.1% fall it had in the week prior to last.
-The other positive aspect for the domestic market is that foreign institutions turned net buyers in the cash market during Friday's trading session. This happened for the first time in the month of May.
-Results today: BHEL, NMDC, PI Industries, IRCON, JK Tyre, GSFC, Metropolis, Laxmi Organic, VA Tech Wabag, Gulf Oil
-Stocks to watch out for are SAIL, Ujjivan Small Finance Bank, Anupam Rasayan, India Cements, Whirlpool of India, City Union Bank, Lupin, Biocon, Oil India, Patanjali Foods
-Overnight in the US, the Dow Jones Industrial Average lagged the broader market, in contrast to the Nasdaq, as JPMorgan Chase led losses.
-All eyes will now be on Nvidia that reports earnings on wednesday. Nvidia shares gained more than 2% overnight on multiple bullish analyst calls that highlighted the company’s preeminent market position.
-Asia-Pacific markets started mixed this morning. Investors in Asia will be watching for any spillover effect on companies up and down Nvidia’s value chain, such as Taiwan’s TSMC and Foxconn, as well as South Korea’s Samsung Electronics and SK Hynix.
-Oil prices fell in early Asian trade this morning, with investors anticipating higher-for-longer U.S. inflation and interest rates will depress consumer and industrial demand. Brent crude futures declined to $83.34 a barrel.
-GIFT Nifty traded with a premium of more than 60 points this morning from Nifty Futures' Friday close, indicating a start in the green for the Indian market
Tune in to the Marketbuzz Podcast for more cues