1278: Marketbuzz Podcast with Kanishka Sarkar: Sensex, Nifty 50 to open lower, CarTrade, fertiliser firms in focus

MarketBuzz

-Welcome back to CNBC-TV18’s Marketbuzz Podcast. Here are all the important updates ahead of the trading session of June 24
-On Friday, frontline indices consolidated higher whereas the sectoral rotation continued with banks doing well last week. Bank Nifty ended 3.5% higher. The Nifty, meanwhile, huffed and puffed but managed to eke out some weekly gains.
-Monsoon progress is also very critical as June has seen poor rains across the country. Meanwhile, India is to be included in the GBI-EM Global Diversified Index from June 28. Also, bond markets could see inflows of $30 billion over the next 10 months.
-The upcoming week will be the June F&O series expiry and it has already been a 1,000-point series for the Nifty on the upside. While it will aim to end the week and the series on a high, the question is, will it get the required support from banks and IT stocks that lent support to the index for most of last week?
-As of this morning, GIFT Nifty was trading with a discount of nearly 40 points from Nifty Futures' Friday close, indicating a start in the red for the Indian market today.
-While the Nifty remains in consolidation mode, the action will lie in specific stocks, as has been the trend in the last few trading sessions. Most of the GST-linked names from fertilisers, to road construction companies to even gaming firm Delta Corp, may see a reaction during Monday's trading sessions. Block deals also continue with CarTrade Tech likely to see one go through on Monday.
-The focus is starting to move towards Budget expectations. In fact, with preps underway several reports are hinting at a potential windfall for the middle class. According to a CNBC Aawaz report, the government is preparing to provide some relief to the middle class in this year's Budget.
Stocks to watch: GST-linked names, CarTrade, banks, IT, Vedanta, Cipla, Sun Pharma, Lupin, MCX, Prestige Estates, PB Fintech, JSW Energy
-Asian shares edged lower this morning, kicking off a week that includes measures of inflation that will help guide bets on the outlook for global interest rates. An index for the region’s stocks was set to slip for a third session on Monday, with equities in South Korea falling and those for Japan swinging between gains and losses. Contracts for Hong Kong shares pointed to declines while US equity futures were steady after the S&P 500 fell on Friday amid a large options expiry.
-This week, while parsing inflation data, traders will also be keeping watch on rising political risks. The first UK prime ministerial and US presidential debates are scheduled and the first round of voting in the French legislative election is set to take place this coming weekend.
-In commodities, oil extended Friday’s decline toward $80 a barrel amid a stronger greenback and a technical indicator suggesting the recent rally has gone too far. Gold fell amid a re-think of the Fed’s rate cut outlook.
Tuned in to Marketbuzz Podcast for more news and cues