Marketbuzz Podcast with Kanishka Sarkar: Bulls set for super Tuesday, vote counting in Lok Sabha polls underway
Episode 1265, Jun 04, 03:00 AM
Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are all the important cues ahead of the trading session of Juen 4
-India's marathon election enters its final phase today with the counting of more than 640 million votes in the world’s largest democratic exercise. Most exit polls widely expect the return of Prime Minister Narendra Modi to a third term after a decade in power.
-Bulls seem set for a super Tuesday. GIFT Nifty indicates a gap-up start for the Indian market. It's expected to build on to Monday's record gains
-The Nifty witnessed the biggest single-day gain in absolute terms on record on June 3, after the exit polls predicted a thumping majority for the Narendra Modi-led NDA government for the third straight term.
-The Nifty's 733-point advance, surpassed the 708-point surge it had witnessed in April 2020. BSE-listed companies together added ₹14 lakh crore in market capitalisation.
-Almost every sector barring IT participated in the rally yesterday. Reliance Industries hit a record high with its market capitalisation returning above the ₹20 lakh crore mark. Both SBI and ICICI Bank also hit record highs and crossed ₹8 lakh crore in market cap in the process. SBI is now the third most valued bank in the country in market cap terms after HDFC Bank and ICICI Bank.
-All eyes are now on the counting. Brokerage firm Nomura wrote in its note that in both 2014 and 2019, the exit polls had underestimated the NDA-seat count by 50 seats and if trend continues on Tuesday, the final NDA tally may turn out to be even better than what has been projected.
-Globally, Asia stocks dipped this morning after kicking off June on solid ground, with investors now awaiting the final results of India’s general elections.
-Overnight, U.S. stock index futures were listless as Wall Street looked to find its footing after an uneven start to the month. Futures for the Dow Jones Industrial Average were roughly flat. S&P 500 futures and Nasdaq 100 futures ticked up less than 0.1% each. The Dow fell more than 115 points, or 0.3%, on the first trading day of June. The S&P 500 and Nasdaq Composite both rose modestly on Monday.
-Stocks to track: Zee Entertainment, Kalyan Jewellers, Sapphire Foods, Biocon, Mahindra & Mahindra Financial Services, RVNL, Veranda Learnings, Sanofi India, Capacite Infra
Stay tuned to CNBC-TV18 for election results, market action, political views, investor and industry opinion, and more
-India's marathon election enters its final phase today with the counting of more than 640 million votes in the world’s largest democratic exercise. Most exit polls widely expect the return of Prime Minister Narendra Modi to a third term after a decade in power.
-Bulls seem set for a super Tuesday. GIFT Nifty indicates a gap-up start for the Indian market. It's expected to build on to Monday's record gains
-The Nifty witnessed the biggest single-day gain in absolute terms on record on June 3, after the exit polls predicted a thumping majority for the Narendra Modi-led NDA government for the third straight term.
-The Nifty's 733-point advance, surpassed the 708-point surge it had witnessed in April 2020. BSE-listed companies together added ₹14 lakh crore in market capitalisation.
-Almost every sector barring IT participated in the rally yesterday. Reliance Industries hit a record high with its market capitalisation returning above the ₹20 lakh crore mark. Both SBI and ICICI Bank also hit record highs and crossed ₹8 lakh crore in market cap in the process. SBI is now the third most valued bank in the country in market cap terms after HDFC Bank and ICICI Bank.
-All eyes are now on the counting. Brokerage firm Nomura wrote in its note that in both 2014 and 2019, the exit polls had underestimated the NDA-seat count by 50 seats and if trend continues on Tuesday, the final NDA tally may turn out to be even better than what has been projected.
-Globally, Asia stocks dipped this morning after kicking off June on solid ground, with investors now awaiting the final results of India’s general elections.
-Overnight, U.S. stock index futures were listless as Wall Street looked to find its footing after an uneven start to the month. Futures for the Dow Jones Industrial Average were roughly flat. S&P 500 futures and Nasdaq 100 futures ticked up less than 0.1% each. The Dow fell more than 115 points, or 0.3%, on the first trading day of June. The S&P 500 and Nasdaq Composite both rose modestly on Monday.
-Stocks to track: Zee Entertainment, Kalyan Jewellers, Sapphire Foods, Biocon, Mahindra & Mahindra Financial Services, RVNL, Veranda Learnings, Sanofi India, Capacite Infra
Stay tuned to CNBC-TV18 for election results, market action, political views, investor and industry opinion, and more