Marketbuzz Podcast with Kanishka Sarkar: Market likely to start in the red, ITC, Dixon Tech 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 25
-The Nifty has now declined for four days in a row and is set for another weekly loss. For the week, the Nifty is down 1.8% so far. For an index, that did not decline for three straight weeks in 2024 until the last week, is now poised for its fourth straight weekly drop.
-The underperformance of the Nifty on Thursday was led by the two FMCG heavyweights - Hindustan Unilever and ITC.
-Stocks to watch: ITC, Dixon Technologies, Godrej Consumer Products, IndusInd Bank, United Breweries, Petronet LNG, MGL, Castrol India, Radico Khaitan, JSW Energy, IEX, Oracle Financial
-Earnings: JSW Steel, Shriram Finance, Interglobe Aviation, BEL, Bandhan Bank, Bank of Baroda, BPCL, DLF, GMR Power, Go Fashion, HPCL, IDBI Bank, Inox Wind, Inox Green Energy, JM Financial, Krsnaa Diagnostics, Phoenix Mills, Poonawalla Fincorp, Praj Industries, Mahindra Holidays, MOIL, Macrotech, UTI AMC
-GIFTNifty was trading flat this morning vs Nifty Futures' Thursday's close, indicating a muted-to-negative start for the Indian market.
-In terms of global cues, major Asian equity benchmarks splintered between gains and losses Friday after Wall Street rallied for the first time this week as Tesla Inc. shares jumped. Equities in Japan fell while share indexes in Australia and South Korea advanced. US futures were little changed after the S&P 500 rose 0.2% and the Nasdaq 100 climbed 0.8%. The moves partly reflected the 22% leap for Tesla shares on strong earnings and a forecast outlining as much as 30% growth in car sales next year.
-Gains for US stocks and bonds on Thursday came as US economic data showed new home sales beating estimates, initial jobless claims dropping and business activity expanding at a solid pace.
-In commodities, oil advanced after dropping Thursday as oversupply concerns overshadowed the risks from Israel’s potential retaliatory strike on Iran. Gold was steady Friday after edging higher in the prior day.
Tune in to the Marketbuzz Podcast for more cues
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