1422: Marketbuzz Podcast with Kanishka Sarkar: Muted opening likely, Kotak Mahindra Bank, ICICI Bank in focus

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

-The Indian equity market demonstrated resilience in a highly volatile session, though ultimately closing marginally lower. After showing a sharp decline in the last five sessions, the Nifty witnessed high volatility and a smart upside recovery. The index extended its downward trend for the sixth straight session, but the day's trading pattern revealed significant underlying strength. Nifty held above 23,000, supported mainly by financial stocks.

-Among individual stocks, Reliance Industries emerged as the primary drag on the index, declining 1.5%, while Mahindra & Mahindra experienced the steepest fall of 3.2%. Insurance stocks surged as the I-T Bill retained the existing corporate tax rate. Metal, PSU Banks, and Financial Services showed strength sector-wise, while the Realty, Oil and Gas, and Auto sectors faced selling pressure.

-This morning, the GIFTNifty was flat indicating a muted start for the Indian market.

-Stocks to track: Kotak Mahindra Bank, ICICI Bank, Reliance, Bharat Forge, Tata Power,

-Global cues: Asian equities rose as US-Russia talks spurred expectations for an end to the war in Ukraine. Risk sentiment was also stoked by the improving prospects for Chinese markets.

-The S&P 500 closed down 0.3%, paring most of a 1.1% slide following the inflation data. Tesla Inc. led gains in megacaps and Meta Platforms Inc. rose for an 18th straight session. For the first time since November, the Nasdaq 100 erased an intraday loss of 1%. In late hours, Cisco Systems Inc. jumped on an upbeat sales forecast.

-Oil extended declines after US-Russia talks. An index of dollar strength was little changed. Gold held a rally from its previous session, inching back toward its record high achieved earlier this week.

-Prime Minister Narendra Modi is in Washington DC for a bilateral meeting with President Donald Trump. He also met US intel chief Tulsi Gabbard.

Tune in to the Marketbuzz Podcast for more news and cues