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1122: Marketbuzz Podcast with Vivek Iyer: Sensex, Nifty 50 likely to open on a cautious note, pharma stocks to be in focus
FromMarketBuzz
1122: Marketbuzz Podcast with Vivek Iyer: Sensex, Nifty 50 likely to open on a cautious note, pharma stocks to be in focus
FromMarketBuzz
ratings:
Length:
2 minutes
Released:
Oct 23, 2023
Format:
Podcast episode
Description
Global equity markets have been rattled by concerns over rising yields, leading to a significant sell-off and a prevailing risk-averse sentiment. In the United States, all three major stock indexes experienced substantial cuts throughout the week. The NASDAQ bore the brunt of the selling pressure, plummeting by over 1.5%. Crude oil prices, after reaching a two-week high, also saw a slight cooldown, with Brent futures sliding 0.2% to $92.16 a barrel during Friday's trading session.
Shifting our focus to the Indian market, several crucial developments are shaping the landscape. The country finds itself in the midst of a hectic earnings season, with results delivering a mixed bag of outcomes. Both the Nifty and Sensex endured a 1% fall, further compounded by mid-cap stocks underperforming significantly. This downturn in the mid-cap segment set a bearish tone and tilted market breadth in favor of declines.
Notably, FMCG stocks such as ITC and HUL underperformed after their results disappointed investors. Additionally, city gas distribution companies like IGL and MGL faced substantial underperformance amid growing concerns about new developments.
Over the weekend, two prominent banks, Kotak Mahindra Bank and ICICI Bank, released their earnings reports. Kotak Bank, in particular, announced the appointment of a new CEO, a development poised to influence market sentiment.
Today, investors are keeping a close watch on pharmaceutical companies and Asian markets, as these factors are likely to influence the course of our own markets.
Tune in to the Marketbuzz Podcast for more news and cues ahead of today's session
Shifting our focus to the Indian market, several crucial developments are shaping the landscape. The country finds itself in the midst of a hectic earnings season, with results delivering a mixed bag of outcomes. Both the Nifty and Sensex endured a 1% fall, further compounded by mid-cap stocks underperforming significantly. This downturn in the mid-cap segment set a bearish tone and tilted market breadth in favor of declines.
Notably, FMCG stocks such as ITC and HUL underperformed after their results disappointed investors. Additionally, city gas distribution companies like IGL and MGL faced substantial underperformance amid growing concerns about new developments.
Over the weekend, two prominent banks, Kotak Mahindra Bank and ICICI Bank, released their earnings reports. Kotak Bank, in particular, announced the appointment of a new CEO, a development poised to influence market sentiment.
Today, investors are keeping a close watch on pharmaceutical companies and Asian markets, as these factors are likely to influence the course of our own markets.
Tune in to the Marketbuzz Podcast for more news and cues ahead of today's session
Released:
Oct 23, 2023
Format:
Podcast episode
Titles in the series (100)
760: Marketbuzz Podcast With Reema Tendulkar: Sensex, Nifty50 likely to open lower; SGX Nifty futures drop over 50 points by MarketBuzz