Marketbuzz Podcast with Kanishka Sarkar: Market likely to start lower, TCS, IREDA in focus
Description
Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are top developments from around the world ahead of the trading session of October 11
-On a day when every single Indian mourned the demise of Tata Sons' Chairman Emeritus Ratan Tata, Dalal Street only found it appropriate to remain in snooze mode and not have any big fluctuations on the weekly options expiry of the Nifty 50 contracts. The Nifty traded in a 160-point range on Thursday but could not surpass Wednesday's high of 25,234. It closed right at the mark of 25,000.
-All eyes for Friday's trading session will be on the reaction that Wall Street has to the CPI data for September, which could potentially determine what will the Fed do in its November policy, after a very strong non-farm payrolls data has completely taken a 50 basis points rate cut off the table.
-On the domestic front, TCS will react to its quarterly results, which were a miss on the margin front. Revenues were in-line with expectations but most other parameters were also a marginal miss. Stocks like Anand Rathi Wealth, IREDA and Tata Elxsi will also be reacting to their quarterly results.
-Other stocks to track: Den Networks, Mazagon Dock Shipbuilders, Oberoi Realty, Krsnaa Diagnostics, Bandhan Bank, Uno Minda
-Shares rose in Asia, sidestepping losses on Wall Street following hotter-than-expected core inflation that heightened the focus on the Federal Reserve’s next move. Japanese and South Korean stocks opened higher while those in Australia slipped. US equity futures also edged higher, after the S&P 500 fell 0.2% and the Nasdaq 100 dropped 0.1% Thursday.
-US data released Thursday underscored the challenge facing the Fed. Underlying US inflation rose more than forecast in September in a sign of stalling progress in the fight to bring prices to target. Separate data showed applications for US unemployment benefits rose last week to the highest in over a year.
-In commodities, oil edged lower, trimming some of its gains from Thursday when West Texas Intermediate futures climbed 3.6% as traders awaited Israel’s response to Iran’s missile attack.
-GIF TNifty was lower this morning trading at discount of nearly 20 pts from Nifty Futures Thursday close, indicating a start in the red for the Indian market.
Tune in to Marketbuzz Podcast for more news and cues
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