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1397: Marketbuzz Podcast with Kanishka Sarkar: Gap-down open likely, IT stocks in focus after Accenture results
- 2024/12/20
- 再生時間: 5 分
- ポッドキャスト
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サマリー
あらすじ・解説
Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are top developments from around the world ahead of the trading session of December 20
-The key question today is can bulls turn the tide now that the Nifty is facing its worst week in three months. On Thursday, the Nifty violated almost every near-term support from 24,100, 24,000, and at one point, even 23,900, although it managed to reclaim the latter towards the close of the session.
-Going ahead, market participants are keeping an eye on the Bank of England policy meeting and Q3 US GDP numbers due later on Thursday.
-This morning, the GIFT Nifty was trading with a discount of nearly 90 points from Nifty Futures' Thursday close, indicating a gap-down start for Indian market.
-Om Mehra of SAMCO Securities says that after the steep correction, there might be mean reversion, and the Nifty may see a relief rally in the coming session and that the next support level remains at 23,600. Shrikant Chouhan of Kotak Securities believes the short-term market sentiment remains on the weak side; however, due to temporary oversold conditions, a quick pullback rally from the current levels could be seen.
-Stocks to watch: IT stocks, Hyundai Motor India, IndiGo, AU Small Finance Bank, KPI Green,
GE Vernova, BASF
-Asian stocks declined as investors awaited the release of the Federal Reserve’s preferred inflation gauge for fresh clues about its policy outlook. A key index of regional shares shed 0.2%, with losses in Australia and South Korea. Japan was an outlier after the yen weakened earlier. Hong Kong and mainland Chinese equities fluctuated in opening trade. US futures fell after both the S&P 500 and the Nasdaq 100 dropped.
-The focus is now on US personal consumption expenditures for November due later Friday, the last major piece of data for the year, after the Fed’s latest hawkish policy pivot. Data released Thursday, including faster-than-expected expansion for gross domestic product and stronger consumer spending, weakened the case for imminent rate cuts.
-Elsewhere, the Republican-led House rejected a temporary funding plan backed by President-elect Donald Trump on Thursday with just over 24 hours to go before a US government shutdown.
Tune in to the Marketbuzz Podcast for more cues
-The key question today is can bulls turn the tide now that the Nifty is facing its worst week in three months. On Thursday, the Nifty violated almost every near-term support from 24,100, 24,000, and at one point, even 23,900, although it managed to reclaim the latter towards the close of the session.
-Going ahead, market participants are keeping an eye on the Bank of England policy meeting and Q3 US GDP numbers due later on Thursday.
-This morning, the GIFT Nifty was trading with a discount of nearly 90 points from Nifty Futures' Thursday close, indicating a gap-down start for Indian market.
-Om Mehra of SAMCO Securities says that after the steep correction, there might be mean reversion, and the Nifty may see a relief rally in the coming session and that the next support level remains at 23,600. Shrikant Chouhan of Kotak Securities believes the short-term market sentiment remains on the weak side; however, due to temporary oversold conditions, a quick pullback rally from the current levels could be seen.
-Stocks to watch: IT stocks, Hyundai Motor India, IndiGo, AU Small Finance Bank, KPI Green,
GE Vernova, BASF
-Asian stocks declined as investors awaited the release of the Federal Reserve’s preferred inflation gauge for fresh clues about its policy outlook. A key index of regional shares shed 0.2%, with losses in Australia and South Korea. Japan was an outlier after the yen weakened earlier. Hong Kong and mainland Chinese equities fluctuated in opening trade. US futures fell after both the S&P 500 and the Nasdaq 100 dropped.
-The focus is now on US personal consumption expenditures for November due later Friday, the last major piece of data for the year, after the Fed’s latest hawkish policy pivot. Data released Thursday, including faster-than-expected expansion for gross domestic product and stronger consumer spending, weakened the case for imminent rate cuts.
-Elsewhere, the Republican-led House rejected a temporary funding plan backed by President-elect Donald Trump on Thursday with just over 24 hours to go before a US government shutdown.
Tune in to the Marketbuzz Podcast for more cues