Marketbuzz Podcast with Kanishka Sarkar: Muted opening likely, Cipla, BPCL, Coal India in focus
Episode 1385, Dec 03, 02:47 AM
Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are all top news from around the world ahead of the trading session of December 3
-On Monday, the markets started the week on a positive note ending in the green for the second consecutive day. The session opened weak due to disappointing GDP data but recovered as select heavyweight stocks across sectors gained momentum, driven by optimism over potential measures from the Reserve Bank of India (RBI) to support the economy in its upcoming MPC meeting. Broader market outperformed with both midcap and smallcap indices gaining more than 1% each.
-Nifty, meanwhile, climbed back to 24,250, led by Reliance Industries, Infosys and HDFC Bank. If the index sustains above 24,350, the index is expected to form higher highs and higher lows on the hourly chart, maintaining a positive short-term trend.
-Foreign institutions remained net sellers in the cash market on Monday, while domestic institutions were net buyers.
-Nagaraj Shetti of HDFC Securities believes the short term trend of Nifty remains positive. A sharp upside breakout is expected above 24,350-24,400 levels in the next couple of sessions.
-Going ahead, Siddhartha Khemka of Motilal Oswal expects EV sector to be in focus after reports stated that the government is likely to evaluate a ₹9,000-crore initiative to boost the production of key battery components in India.
-For today, GIFT Nifty was flat this morning, indicating a muted start for the Indian market.
-Stocks to watch: BPCL, Coal India, Cipla, KPI Green, Torrent Power, Solar Industries, KEC International, Muthoot Capital
-Global cues: Asian shares rose to follow the upbeat tone on Wall Street where a rally in the world’s largest technology companies drove stocks to fresh all-time highs. Equity benchmarks gained in Japan, South Korea and Australia. Hong Kong and US futures were steady. The moves came after the S&P 500 notched its 54th closing record this year on Monday, and the tech-heavy Nasdaq 100 rose more than 1%.
-Oil edged higher as traders watched for clues on OPEC+’s supply plans ahead of a key meeting this Thursday. Gold was steady, staying within a narrow trading range where it’s been for the past week.
Tune in to Marketbuzz Podcast for more cues
-On Monday, the markets started the week on a positive note ending in the green for the second consecutive day. The session opened weak due to disappointing GDP data but recovered as select heavyweight stocks across sectors gained momentum, driven by optimism over potential measures from the Reserve Bank of India (RBI) to support the economy in its upcoming MPC meeting. Broader market outperformed with both midcap and smallcap indices gaining more than 1% each.
-Nifty, meanwhile, climbed back to 24,250, led by Reliance Industries, Infosys and HDFC Bank. If the index sustains above 24,350, the index is expected to form higher highs and higher lows on the hourly chart, maintaining a positive short-term trend.
-Foreign institutions remained net sellers in the cash market on Monday, while domestic institutions were net buyers.
-Nagaraj Shetti of HDFC Securities believes the short term trend of Nifty remains positive. A sharp upside breakout is expected above 24,350-24,400 levels in the next couple of sessions.
-Going ahead, Siddhartha Khemka of Motilal Oswal expects EV sector to be in focus after reports stated that the government is likely to evaluate a ₹9,000-crore initiative to boost the production of key battery components in India.
-For today, GIFT Nifty was flat this morning, indicating a muted start for the Indian market.
-Stocks to watch: BPCL, Coal India, Cipla, KPI Green, Torrent Power, Solar Industries, KEC International, Muthoot Capital
-Global cues: Asian shares rose to follow the upbeat tone on Wall Street where a rally in the world’s largest technology companies drove stocks to fresh all-time highs. Equity benchmarks gained in Japan, South Korea and Australia. Hong Kong and US futures were steady. The moves came after the S&P 500 notched its 54th closing record this year on Monday, and the tech-heavy Nasdaq 100 rose more than 1%.
-Oil edged higher as traders watched for clues on OPEC+’s supply plans ahead of a key meeting this Thursday. Gold was steady, staying within a narrow trading range where it’s been for the past week.
Tune in to Marketbuzz Podcast for more cues