Marketbuzz Podcast with Kanishka Sarkar: Market likely to open little changed, LIC, SJVN shares in focus
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Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are top developments from around the world ahead of the trading session of November 22 -The Indian equity market reversed Tuesday’s gains on Thursday, with the Nifty ending at a five-month low. The tone was negative from the beginning, however, buying in select heavyweights from the IT and banking sectors helped limit the decline as the day progressed. Consequently, the Nifty index traded within a range for most of the session, settling at the 23,349 level. On the sectoral front, realty and IT performed well, while energy, metals, and FMCG sectors closed in the red. -Adani Group stocks slid as a US court indicted Gautam Adani and other group executives on charges of bribery related to certain solar projects. At their lowest point, the Adani Group's cumulative market capitalisation had declined by ₹2.6 lakh crore. Shares of Adani Group companies fell between 7% and 23% today. -The foreign portfolio investors have been relentlessly selling Indian equities with nearly ₹35,000 crore outflow in November month till date, which has been among the key reasons behind the recent market downtrend. -Meanwhile, for the day, the Gift Nifty remains volatile too. It was trading at a premium of more than 100 pts from Nifty Futures Thursday close earlier in the day. However, at the time of recording the podcast it slipped to the red and was 30 points down, indicating a lower opening for the equity market. -Stocks to watch: SJVN, Afcons Infrastructure, LIC -Asian equities rose this morning following gains on Wall Street as investors shook off initial concerns over Nvidia Corp.’s revenue outlook. The dollar gained. Shares in Australia, Japan and Hong Kong rose while those in China fluctuated after an index of US-listed Chinese stocks fell 1% Thursday. -Bitcoin set a fresh high, climbing past $98,000 on bets President-elect Donald Trump’s support for crypto and a looser regulatory environment will usher in a boom for the industry. -Meanwhile, geopolitical tensions continued to simmer as Russia said it had launched a new kind of ballistic missile into Ukraine, boosting oil and gold prices. West Texas Intermediate gained for a second day. Gold rose for a fifth straight session. Tune in to Marketbuzz Podcast for more cues
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