Marketbuzz Podcast with Kanishka Sarkar: Market to open little changed, all eyes on RBI policy
Episode 1388, Dec 06, 02:55 AM
Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are the top news from around the world ahead of the trading session of December 6
-Yesterday, markets extended their recovery in a volatile session, gaining over 1% after a brief pause. Following a subdued start, a sudden surge in select heavyweight stocks mid-session lifted sentiment, although volatile swings in the final hour tempered momentum. Ultimately, the Nifty ended above 24,700, marking its highest closing level since October 21. Most sectors contributed to the rally, with IT, banking, and auto emerging as the top gainers. The IT index hit a record high, rising more than 2%, with Infosys and TCS leading the gains.
-Market volatility was largely induced due to uncertainty around MPC's policy meet and the RBI's focus on liquidity measures following a dip in economic growth, which is going to be the key focus today as governor Shaktikanta Das is set to announce the policy outcome at 10 am today.
-As of this morning, GIFT Nifty was higher, trading at a premium of more than 40 points from Nifty Futures Thursday close, indicating a start in the green for the Indian market.
-Stocks to watch: Afcons Infrastructure, Nykaa, Cummins India, Dr Reddy's Laboratories, Ola Electric, Ramco Systems
-The key thing to watch today will be the RBI policy outcome. A CNBC-TV18 poll of analysts expects RBI to hold rates whereas it could trim growth outlook.
-Asian equities tracked a drop in US shares ahead of jobs data that may help shape the direction of the Federal Reserve’s policy path later this month. Equities in Japan, Australia and futures in Hong Kong all fell, taking cues from the downbeat mood on Wall Street. The S&P 500 dropped 0.2% and the tech-heavy Nasdaq 100 slipped 0.3%, their first declines in five sessions.
-In commodities, oil was mostly unchanged after OPEC+’s decision to push back the revival of shuttered production by another three months failed to lift sentiment. Meanwhile, Chevron Corp. said it plans to slow production growth in the biggest US oil field next year. Gold held its declines.
-Bitcoin pulled back a record high with some traders already seeking to hedge against a deeper retreat after the original cryptocurrency surged to more than $100,000 for the first time. The digital asset held it losses after news that Donald Trump had named David Sacks as a White House czar for crypto and artificial intelligence.
Tune in to Marketbuzz Podcast for more cues
-Yesterday, markets extended their recovery in a volatile session, gaining over 1% after a brief pause. Following a subdued start, a sudden surge in select heavyweight stocks mid-session lifted sentiment, although volatile swings in the final hour tempered momentum. Ultimately, the Nifty ended above 24,700, marking its highest closing level since October 21. Most sectors contributed to the rally, with IT, banking, and auto emerging as the top gainers. The IT index hit a record high, rising more than 2%, with Infosys and TCS leading the gains.
-Market volatility was largely induced due to uncertainty around MPC's policy meet and the RBI's focus on liquidity measures following a dip in economic growth, which is going to be the key focus today as governor Shaktikanta Das is set to announce the policy outcome at 10 am today.
-As of this morning, GIFT Nifty was higher, trading at a premium of more than 40 points from Nifty Futures Thursday close, indicating a start in the green for the Indian market.
-Stocks to watch: Afcons Infrastructure, Nykaa, Cummins India, Dr Reddy's Laboratories, Ola Electric, Ramco Systems
-The key thing to watch today will be the RBI policy outcome. A CNBC-TV18 poll of analysts expects RBI to hold rates whereas it could trim growth outlook.
-Asian equities tracked a drop in US shares ahead of jobs data that may help shape the direction of the Federal Reserve’s policy path later this month. Equities in Japan, Australia and futures in Hong Kong all fell, taking cues from the downbeat mood on Wall Street. The S&P 500 dropped 0.2% and the tech-heavy Nasdaq 100 slipped 0.3%, their first declines in five sessions.
-In commodities, oil was mostly unchanged after OPEC+’s decision to push back the revival of shuttered production by another three months failed to lift sentiment. Meanwhile, Chevron Corp. said it plans to slow production growth in the biggest US oil field next year. Gold held its declines.
-Bitcoin pulled back a record high with some traders already seeking to hedge against a deeper retreat after the original cryptocurrency surged to more than $100,000 for the first time. The digital asset held it losses after news that Donald Trump had named David Sacks as a White House czar for crypto and artificial intelligence.
Tune in to Marketbuzz Podcast for more cues