1293: Marketbuzz Podcast with Kanishka Sarkar: Sensex, Nifty 50 headed for gap-up opening, big earnings this week

Welcome to CNBC-TV18’s Marketbuzz Podcast, here are all the important updates ahead of the trading session of July 15

-Multiple big earnings due this week. Bajaj auto on July 16, Infosys on July 18,  and Reliance Industries on Friday, July 19. Also, this is a truncated week as the market will remain closed on Wednesday for Muharram.

-The week gone by nearly turned out to be a dull one until the IT stocks woke up from their long slumber post TCS' results and took the Nifty higher, thereby ensuring that the index gained for the sixth week in a row. The Nifty IT index had its best single day gain since October 2020 last Friday.

-Nagaraj Shetti of HDFC SecuritiesThe Nifty appears to have completed its one day dip and has started to move higher while pointing to a similar move on June 24, post which the index had continued to move higher. He now expects the Nifty to test levels of 24,950, having crossed the immediate hurdle of 24,400. Downside support is at 24,350.

-This morning, the GIFT Nifty higher was trading at a premium of 90 points from Nifty Futures Friday close, indicating a start in the green for the Indian market. Multiple stocks in focus today.

-Stocks to watch: IREDA, HCLTech, Avenue Supermarts, HDFC AMC, HDFC Life, Jio Financial Services

-In terms of global outlook, Asian stocks were mixed as the US dollar rose after the attempted assassination of Donald Trump reinforced bets that his chances of winning the presidential election have increased.

-Australian and South Korean shares rose while Hong Kong futures indicated an early loss when markets open. Australian bond yields edged lower. Chinese shares opened lower ahead of key data release and a major political event in the country. Japan’s markets are closed for a public holiday. .

-Bitcoin topped $60,000 in the wake of the attack.

-On friday, in the US, Dow Jones hit a fresh all-time high above 40,000. Dow Jones has risen 6% in 2024 whereas S&P 500 is up 18% in 2024 to a new record high.

-In commodities, oil prices fell for a second day on Monday as the dollar gained ground amid political uncertainty in the U.S. following an attack on U.S. presidential candidate Donald Trump while investors eyed the progress of talks for a Gaza ceasefire. Brent crude futures fell 55 cents, or 0.7%, to $84.48 a barrel after settling down 37 cents on Friday.

Tune in to the Marketbuzz Podcast for more cues