• 1296: Marketbuzz Podcast with Kanishka Sarkar: Nifty 50 eyes 25,000, Reliance and Infosys in focus

  • Jul 19 2024
  • Duración: 4 m
  • Podcast

1296: Marketbuzz Podcast with Kanishka Sarkar: Nifty 50 eyes 25,000, Reliance and Infosys in focus Por arte de portada

1296: Marketbuzz Podcast with Kanishka Sarkar: Nifty 50 eyes 25,000, Reliance and Infosys in focus

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  • Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are all the top developments ahead of the trading session of July 19

    -Quarterly results continue to remain the focus of the market. On July 18, there was a big IT-led recovery and after market hours Infosys posted a super first quarter earnings.

    -Technology stocks led the charge on the upside on Thursday with heavyweights Infosys and TCS being substantial contributors. Both combined contributed to nearly 50 points on the Nifty's 190-point surge on Thursday. Vital contributions also came from ICICI Bank and Reliance Industries.

    -Today, it possibly would be Infosys, that will be the biggest trigger for pushing the Nifty towards 25,000. The IT giant convincingly surpassed analyst estimates for the June quarter, raised its revenue growth guidance for financial year 2025 and also won deals worth $4.1 billion during the June quarter. The company's US-listed shares (ADRs) ended 8.3% higher overnight.

    -Other than Infosys, the other stock in focus on Friday will be Reliance Industries, as it will report results after market hours. The index heavyweight will see the reaction to its earnings next Monday, a day before the announcement of the Union Budget.

    -Other broader market names like Persistent Systems, Tata Technologies, L&T Technology Services, South Indian Bank, Dalmia Bharat, JSW Infra will also react to their results today.

    -Earnings: JSW Steel, ICICI Lombard, JSW Energy, Indian Hotels, UltraTech, Wipro, Paytm, Nippon Life AMC, Patanjali Foods, PVR Inox, Route Mobile, Tejas Networks

    -GIFTNifty was trading higher, up more than 10 pts from Nifty Futures Thursday close, indicating a start in the green for the Indian market.

    -Early today, Asian equities tracked US stocks lower for a second day as signs of economic weakness overwhelmed the market’s optimism surrounding interest-rate cuts. Shares in Japan, South Korea and Australia dropped.

    -The S&P 500 fell 0.8% Thursday, extending a drop from the prior session and placing the benchmark on track for its largest weekly decline since April. The Nasdaq 100 fell 0.5%, while the Russell 2000 benchmark of US small companies fell 1.9%, continuing to pull back from a rally earlier in the week as investors rotated from large technology stocks. US equity futures edged higher early Friday.

    -Elsewhere, Joe Biden’s grasp on the Democratic presidential nomination appeared to be slipping Thursday, as he weighed increasingly public warnings from his party’s top lawmakers.

    -In commodities, oil edged lower in early Friday trading. Brent crude prices fell by half a percent to $84.50 a barrel. Spot gold too fell over half a percent to $2,430.57 an ounce.

    Tune in to the Marketbuzz Podcast for more cues
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