1305: Marketbuzz Podcast with Kanishka Sarkar: Market to open in green after Fed rate cut hopes, Infosys in focus

MarketBuzz

-Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are the top developments from around the world ahead of the trading session of August 1
-It’s yet another day of waiting for the Nifty to cross 25,000. Nifty and 25,000 are now separated by 49 points. It still seems a long way away considering the index came within 0.2 points of that on Monday, 30 points on Tuesday and 16 points on Wednesday but could not cross that landmark. 24,984 was the high made by the Nifty on Wednesday and that now becomes the first hurdle to cross on Thursday for the Nifty.
-Global cues are important today as the US Federal Reserve has kept interest rates unchanged but Chair Jerome Powell said that a rate cut in September is "on the table" provided that data continues to be as encouraging as it currently is.
-Wall Street cheered the Fed commentary with the S&P 500 marking its best day since February this year, while the Nasdaq ended with gains of over 2%.
-This morning in Asia, equities and US futures were broadly higher on firming signs that the Federal Reserve will soon cut interest rates. Japanese stocks fell to reflect a stronger yen. Equities in Australia and South Korea rose alongside Hong Kong share futures. Contracts for the S&P 500 and the Nasdaq 100 both climbed to compound Wednesday’s advances ignited by a tech rally.
-In terms of commodities, oil prices rose in early Asian trading, extending strong gains in the previous session after the killing of a Hamas leader in Iran raised the threat of a wider Middle East conflict and on signs of strong oil demand in the U.S. Global benchmark Brent crude futures rose 0.8%, to $81.51 per barrel this morning.
-Back home, Nifty ended the month of July with gains of 3.9%, following up a 6.6% advance in June. August generally has been a positive month for the Nifty as it has delivered positive returns in three out of the last four years. Last year saw the index fall 2.5%, but gained 3.5% in 2022, 8.7% in 2021 and 2.8% in 2020.
-The first day of the new month will also be the weekly options expiry of the Nifty 50 contracts.
-Stock to track: Infosys, Coal India, Tata Steel, Bank of Baroda, Prestige Estates, Phoenix Mills, Relaxo Footwear
-Earnings: Adani Enterprises, Adani Ports, Sun Pharma, ITC, Tata Motors, Dabur, Kalyan Jewellers, Thermax, Tube Investments, HPL Electric and Power, and Godrej Agrovet
-The Gift Nifty was trading 0.02% ahead of the Nifty futures’ Wednesday close, implying a flat start for the market today.
Tune in to the Marketbuzz Podcast for more cues