Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are top developments from around the world ahead of the trading session of December 17
-The Nifty was back into consolidation mode on December 16, trading in a range and eventually ending with a negative bias, giving up some part of the huge recovery it saw on Friday. However, like it did before Friday's session of extremes, the Nifty respected both sides of the range on Monday as well.
-Nagaraj Shetti of HDFC Securities says that the near-term uptrend of the Nifty is intact and the market will eventually see an upside breakout of the 24,800 hurdle He continues to advise a buy on every dip with immediate support at 24,550 as the long-term weekly chart is still in an uptrend.
-GIFT Nifty was trading at a discount of over 70 points this morning versus Nifty Futures' Monday's close, indicating a start with cuts for Indian market.
-Stocks to track: Vedanta, Wipro, Indus Towers, Mindspace REIT, Gravita India, Adani Wilmar, Auto Component makers, GMR Airports, Gopal Snacks, Prataap Snacks, Bikaji Foods, Texmaco Rail, RVNL, RailTel, Varun Beverages, TCS, Mawana Sugars,
-22 central banks are about to declare their monetary policy decisions this week. This includes the likes of the US Federal Reserve, Bank of England and the Bank of Japan. While most of their interest rate actions are priced in by the market, their commentary on the road ahead is what is keeping the market participants nervous.
-Asian equities tracked gains on Wall Street this morning as traders awaited a raft of interest-rate decisions by central banks this week. A key stock benchmark for the region climbed, as did shares in Australia and Japan. Shares in Hong Kong opened lower while those in mainland China fluctuated, showing weak market momentum after soft retail sales data Monday. The moves came after a positive session on Wall Street, where the Nasdaq 100 gained more than 1% to reach another record high.
-The main focus remains Wednesday’s Fed decision, which will be followed by policy announcements in Japan, the Nordics and the UK this week.
-In the corporate world, President-elect Donald Trump announced that SoftBank Group Corp. planned to invest $100 billion in the US over the next four years during an event alongside Chief Executive Officer Masayoshi Son on Monday. Shares of SoftBank rose as much as 4%.
-Bitcoin rose to a record high on Trump’s support for digital assets and optimism about the upcoming inclusion of MicroStrategy Inc., an accumulator of the token, in a key US stock gauge.
-Oil steadied after a decline, after poor economic data from China reinforced concerns about weakening demand in the world’s biggest crude importer. Gold was little changed, holding on to a slight gain in its previous session.
Tune in to the Marketbuzz Podcast for more cues
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