1177: Marketbuzz Podcast with Ekta Batra: Sensex, Nifty 50 to start lower, HDFC Bank, ICICI Prudential Life in focus

Indian benchmark indices, Sensex and Nifty 50, are likely to start the trading session of January 18 in the red, a day after the biggest fall in two years.

The Nifty Bank index also saw the biggest fall since 2022 with HDFC Bank recording the worst day in three years.

It remains to be seen if the previous session’s move was exceptional or if it will sustain given the weak global cues combined with pressure in private banks weighing on sentiment. The Street is likely to focus on financial earnings post HDFC Bank and track if there will be net interest margin pressure in other banks as well. IndusInd Bank and South Indian Bank are among the lenders expected to report earnings later in the day.

The Central Bank and RBL Bank will report results on January 19 while the ICICI Bank will release quarterly numbers the day after. Since Reliance Industries will also report numbers after the January 20 trading session, January 22, Monday’s session will be key to watch. 

The global setup looks weak, the China GDP data being the key concern. The US markets ended lower in the overnight session while Asia shares were weak this morning. Brent crude was hovering at around $78 per barrel. The GIFT nifty too is indicating a lower start for the domestic market.

Tune in to Marketbuzz Podcast for more cues