Marketbuzz Podcast with Reema Tendulkar: Sensex, Nifty 50 set for gap-up opening
Episode 1014, May 18, 2023, 03:02 AM
SGX Nifty is suggesting a positive start for the Indian market on May 18, following the strength on Wall Street in the overnight session.
The key indices on Wall Street ended with a gain of more than a percent as there is hope that the US will be able to raise the debt ceiling in time to avoid a default that has reassured the markets.
After a good session on Monday, Tuesday and Wednesday markets took a step back yesterday. The Indian markets were down about 0.6 percent on the benchmark indices. If the market is up and crosses 18,300, there could be a bit of a short covering in terms of flows net.
Asia-Pacific share indexes rallied this morning, following Wall Street's lead, and the dollar held just below a two-month high versus the yen.
For the Indian market, it is also a big day of earnings. State Bank of India, United Spirits Limited and ITC are among those set to report their quarterly earnings for the January to March 2023 period.
For Vedant Fashion, the promoters have announced an offer for sale to sell a nearly 10 percent stake in the company. This is to meet SEBI’s minimum public shareholding norms. Once completed, the promoter stakes would be down to 75 percent. According to some analysts, this removes a technical overhang on the stock price.
Tune in to Marketbuzz Podcast for more news and cues to track ahead of today’s market session
The key indices on Wall Street ended with a gain of more than a percent as there is hope that the US will be able to raise the debt ceiling in time to avoid a default that has reassured the markets.
After a good session on Monday, Tuesday and Wednesday markets took a step back yesterday. The Indian markets were down about 0.6 percent on the benchmark indices. If the market is up and crosses 18,300, there could be a bit of a short covering in terms of flows net.
Asia-Pacific share indexes rallied this morning, following Wall Street's lead, and the dollar held just below a two-month high versus the yen.
For the Indian market, it is also a big day of earnings. State Bank of India, United Spirits Limited and ITC are among those set to report their quarterly earnings for the January to March 2023 period.
For Vedant Fashion, the promoters have announced an offer for sale to sell a nearly 10 percent stake in the company. This is to meet SEBI’s minimum public shareholding norms. Once completed, the promoter stakes would be down to 75 percent. According to some analysts, this removes a technical overhang on the stock price.
Tune in to Marketbuzz Podcast for more news and cues to track ahead of today’s market session