1302: Marketbuzz Podcast with Kanishka Sarkar: Nifty 50 eyes 25,000, banking stocks in focus

MarketBuzz

Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are top developments from around the world ahead of the trading session of July 29
-The big question today is whether or not the Nifty will surpass 25,000 after almost every index heavyweight, be it Reliance Industries, Infosys, TCS, ITC put their hand up on Friday to take the Nifty to a new record high of 24,861.
-While IT and Reliance have been contributors through and through, what further aided Friday's move was a recovery in banks. The Nifty Bank index recovered nearly 900 points from the lows of the day and barring HDFC Bank, most of the index constituents contributed to the rally on the upside. Infosys, trading at the highest level in two years, is also nearing a record high.
-The banking sector will again be in focus today as a slew of earnings reactions will be seen during the trading session.
-Stocks to watch: IndusInd Bank, Bandhan bank, Power Grid, KEC International, Kaynes Tech, ICICI Bank, PNB, IDFC First Bank, Anant Raj, MCX, Dr Reddy's Laboratories, Genus Power, UltraTech and India Cements
-Earnings: ACC, BEL, Adani Total Gas, CSB Bank, Data Patterns, HPCL, Kansai Nerolac, Strides Pharma
-Both foreign and domestic institutions were net buyers in the cash market on Friday. The numbers may also be skewed due to the block deal that took place in Sobha on Friday morning.
-Kotak Securities’ Amol Athawale expects 25,000 to be a key hurdle for the bulls but crossing that can take the Nifty to 25,150 levels. 24,675 - 24,600 on the downside now becomes an important support, below which, the sentiment could change.
-In terms of global cues, Asian shares snapped three days of losses to rise on Monday morning, before a week of key central bank decisions in Japan, the US and the UK, as well as some big tech earnings releases.
-The Fed is likely to signal its plans to cut in September at the conclusion of its meeting on Wednesday, according to economists surveyed by Bloomberg News, a move they say will kick off reductions each quarter through 2025.
-Oil rose ahead of a key OPEC+ meeting this week, with analysts divided over whether the group will proceed with plans to boost supplies next quarter.
-OLA Electric Mobility is set to launch its Rs 5,500 cr IPO on August 2
-Manu Bhaker has won bronze in air-pistol, bagging India’s first medal at Paris Olympics
-Gift Nifty was trading 0.3% higher from friday’s close this morning, indicating a start in the green for the Indian market
Tune in to the Marketbuzz Podcast for more cues