1223: Marketbuzz Podcast with Kanishka Sarkar: Biz updates, earnings and RBI policy in focus this week

Hello and welcome to CNBC-TV18’s  Marketbuzz Podcast. Here are important cues to track ahead of the market session of April 1

-The Nifty came within 10 points of making a new record high on March 28 but failed to do so. What followed was a sharp sell-off from the highs of the day during the final 45 minutes of the session, which questioned the entire 400-point jump from the lows that the Nifty witnessed on F&O expiry day. -Both foreign and domestic investors remained net buyers in the cash market on Thursday.

-Last week marked the end of the FY24 fiscal. Today the FY25 financial year begins.

-Globally on March 28, US stocks closed mixed ahead of the Easter break. On Good Friday in the US, February’s inflation rose in line with expectations from Dow Jones, with the the personal consumption expenditures price index excluding food and energy increasing 2.8% on a 12-month basis and up 0.3% from a month ago.

-Federal Reserve Chair Jerome Powell reiterated a message he has sounded in recent weeks: which is that While the Fed expects to cut interest rates this year, it won't be ready to do so until it sees more good inflation readings' and is more confident that annual price increases are falling toward its 2 per cent target.

- This morning, Asia-Pacific markets climbed as investors assessed China’s business activity for February and await economic data out of Japan.

-Oil prices edged down slightly, holding on to most of their recent gains amid expectations of tighter supply from OPEC+ cuts, attacks on Russian refineries and upbeat Chinese manufacturing data. Brent crude fell 17 cents to $86.83 a barrel.

-Talking about the domestic market, Nifty sees a make-or-break week ahead. We will find out if the correction from mid-January is just a pullback or if the uptrend is intact. The support for Nifty stands at 22,152.

-The week will be a data-driven one as companies will start reporting their March quarter business updates, particularly banks and financials, along with certain FMCG companies.

-The focus will also be on the RBI Monetary Policy between April 3-5 and whether the MPC will provide further clarity on where the interest rates are headed in the country. The second week of April will also see IT companies start reporting their quarterly earnings, and future commentary from them will be keenly awaited.

-Stocks to track: Auto companies, HDFC Bank, Infosys, Indian Oil Corporation, RVNL, Adani Total Gas, Lupin, Veranda Learning Solution, Trident, Canara Bank, Torrent Power, Landmark Cars, Macrotech Developers, Metro Brands, SBI Life Insurance, Indian Overseas Bank, NTPC and Adani Green Energy

Tune in to the Marketbuzz Podcast for more cues