1334: Marketbuzz Podcast with Kanishka Sarkar: Market likely to start in green, Adani group stocks, BPCL in focus

-Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are top developments from around the world ahead of the trading session of September 13

-This morning, GIFTNifty was higher, trading at a premium of more than 60 pts from Nifty Futures Thursday close, indicating a start in the green for the Indian market.

-On Thursday, the Nifty, which struggled to cross 25,000 for the better part of the day, crossed 25,200, 25,300 and even made a new record high of 25,433, all within a span of 90 minutes. The weekly options expiry of the Nifty 50 contracts triggered a sharp short covering move, led by banking stocks. Another trigger may have been the nearly ₹3 lakh crore that were blocked for the Bajaj Housing Finance IPO. Freeing up of that capital could have also led to this upmove.

-Adani Group will be in focus today as the group as unequivocally rejected and denied baseless allegations presented by Swiss publication GothamCity. They said the Adani Group has no involvement in any Swiss court proceedings, and none of their company accounts have been subject to sequestration by any authority.

-Stocks to watch: BPCL, Tata Power, Tata Motors, BLS International, SBI Card, Patanjali Foods

-In Asia, stocks fluctuated this morning, with the yen’s rise to around 141 per dollar pressuring those in Japan, an export-oriented economy. Benchmarks rose in Australia, South Korea, Hong Kong and China, following a fourth day of gains on Wall Street.

-The range-bound trading in equities suggests caution ahead of next week’s Fed policy meeting, after data showed Thursday that US producer price index picked up slightly in August after the previous month’s numbers were revised lower. Meanwhile, categories that feed into the Fed’s preferred inflation gauge were muted.

-Oil prices rose on Friday, extending a rally sparked by output disruptions in the U.S. Gulf of Mexico, where Hurricane Francine forced producers to evacuate platforms before it hit the coast of Louisiana. Brent crude futures rose by 34 cents, or 0.5%, to $72.31 per barrel this morning.

Tune in to the Marketbuzz Podcast for more cues