1282: Marketbuzz Podcast with Kanishka Sarkar: Sensex, Nifty 50 likely to start in green, Reliance, HCLTech in focus

Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are all the important updates ahead of the trading session of June 28

-It’s the end of the week, month and half the year today. India has emerged as the best performing market this week, pushing it up on the monthly chart. It’s been a super strong week so far for largecaps, Nifty, Bank Nifty gaining more than 2%. In a relative sense, Midcaps, smallcaps and SMEs have taken a backseat. FIIs, meanwhile, are  positioning in index futures now at an extreme.

-No level has proven to be a resistance for the Nifty 50. The index just posted its best F&O series since December last year. The Nifty is up 2.3% for the week and is on course to register its second-best week of 2024.

-The talks around India Cements dominated the market on Thursday as Billionaire investor Radhakishan Damani and his associates sold 23% equity in India Cements for nearly ₹1,900 crore. The country’s leading cement maker UltraTech acquired the entire block, which is considered to be a bid to expand its presence in the southern market.

-Stocks to track: Reliance Industries, Polycab, Samhi Hotels, HCLTech, JSW Infra, RBL Bank, AU Small Finance Bank, Unichem Labs, Ambuja Cements, Raymond

-This morning, GIFT Nifty was trading with a premium of 90 points from Nifty Futures' Thursday close, indicating a gap-up start for the Indian market.

-India is preparing itself for the inclusion of the nation’s government bonds into JPMorgan Chase & Co. emerging markets index on Friday, opening up a $1.3 trillion market to a broader range of investors.

-Equities in Asia followed gains in US stocks ahead of the Federal Reserve’s preferred inflation gauge due Friday. Shares in Japan’s benchmark Topix index were set for a 34-year high. Australian and South Korean stocks climbed, while those in Hong Kong were slightly lower. The moves follow a downbeat day in the prior session when a gauge of the region’s stocks fell for the first time in three days. Contracts for US equities rose.

-President Joe Biden and former President Donald Trump faced off in their first 2024 debate late Thursday in the US. The dollar and Bitcoin rose as the debate got going, and the yen weakened past 161 to the greenback, its lowest levels since 1986.

-Overnight in the US, the S&P 500 eked out a narrow gain as Wall Street looked ahead to fresh inflation data to assess when the Federal Reserve will begin lowering interest rates. The U.S. is expected to release its preferred inflation gauge, the personal consumption expenditure index on Friday. The Nasdaq Composite added 0.30%, while the Dow Jones Industrial Average inched up 0.09%.

-Lastly, in commodities, oil was set to advance for a third session on Friday while gold held onto Thursday’s gains.

Tune in to Marketbuzz Podcast for more news and cues