1306: Marketbuzz Podcast with Kanishka Sarkar: Sensex, Nifty 50 likely to open in red, Titan, UPL results today

Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are the top developments ahead of the trading session of August 2

-After three days of teasing the landmark, the Nifty finally scaled the mark of 25,000, thereby starting off August on a positive note. What generally follows an event like this is a sell-off from higher levels. Yesterday, there was some bit of resistance for the Nifty as well around the 25,100 mark owing to which it reversed from its latest record high of 25,078, but the fact that the index managed to hold on to 25,000 at close, will give the bulls a lot of comfort.

-Stocks to watch: Tata Motors, Zomato and ITC, Godrej Agrovet, Kalyan Jewellers, Vaibhav Global, Infosys

-Earnings: Dalmia Bharat, Delhivery, CAMS, Hindustan Zinc, UPL, PSP Projects, Titan, LIC Housing Finance

-Nagaraj Shetti of HDFC Securities says even as the Nifty has crossed 25,000, the crucial hurdle between 25,000 - 25,100 remains intact. He anticipates further consolidation or a minor near-term dip.

-In the US overnight, stocks sold off with the Dow Jones Industrial Average tumbling nearly 500 points, as investors’ fears over a recession surfaced. The Dow dropped 1.2%. The S&P 500 shed 1.3% while the Nasdaq Composite
 slipped more than 2%.

-Some fresh data stoked fears over a possible recession and the notion that the Federal Reserve could be too late to start cutting interest rates. Initial jobless claims rose the most since August 2023.

-This morning, Asian markets also fell after the Wall Street sell-off, with Japan’s Nikkei 225 leading losses. Japan’s benchmark indexes nosedived as much as 5% on Friday, with most Asia-Pacific markets lower after a sell-off on Wall Street overnight over recession worries.

-Intel shares slid as much as 20% in extended trading overnight after the chipmaker said it would lay off over 15% of its employees as part of a $10 billion cost-reduction plan and reported lighter results than analysts had envisioned.

-In commodities, oil headed for a fourth weekly drop as demand concerns in the world’s two biggest economies overshadowed heightened geopolitical risk. Brent crude traded near $80 a barrel after dropping by 1.6%.

-Ola Electric’s over Rs 6000 cr IPO opens for subscription today. Its anchor book saw participation from marquee investors.

-Gift Nifty was trading 0.18% lower than the Nifty futures’ Thursday close, implying a lower start for the Indian market.

Tune in to the Marketbuzz Podcast for more cues