1421: Marketbuzz Podcast with Kanishka Sarkar: Flat opening likely, TVS Motor, ITC, Ashok Leyland shares in focus

Welcome to CNBC-TV18’s Marketbuzz Podcast. Here is top news from around the world ahead of the trading session of February 12

-GIFT Nifty was flat this morning, trading at a premium of nearly 20 points from Nifty Futures Tue close, indicating a flat-to-positive start for the Indian market.t

-Yesterday, the downside momentum continued in the market for the fifth consecutive session. After opening on a negative note, the market continued to decline further for the better part of the session. In the last hour, the Nifty recovered more than 100 points from the intraday low of 22,986 and ended the day with a 310-points or 1.32% loss at 23,071.80.

-Additionally, a sharp sell-off in midcap and smallcap stocks further dampened sentiment. The broader market took a bigger hit, coming close to entering a correction, with midcaps down 17% from record-high levels.

-BSE-listed companies erased nearly Rs 10 lakh crore in market capitalisation yesterday.

-Going forward, the market scenario appears challenging in the absence of bullish sentiment.

-Stocks in focus: TVS Motor Company, Jupiter Wagons, SAIL, Vodafone Idea

-Earnings: Ashok Leyland, Bharat Forge, Crompton Consumer, HAL, Jubilant Foodworks, Muthoot Finance, PFC, Siemens, Aegis Logistics, Balaji Amines, Finolex Cables, Graphite India, Honasa Consumer, Landmark Cars, PTC India, RCF, RVNL

-Global cues: Bond yields climbed after Federal Reserve Chair Jerome Powell signaled patience before cutting interest rates further and as investors look ahead to the upcoming CPI data. Treasuries fell across the curve on Tuesday, with money markets still fully pricing in one rate cut by the Fed this year. Australian and Japanese 10-year yields gained. The yen declined for a third consecutive day. Hong Kong shares climbed while a gauge of Asian equities dropped to the lowest in a week.

- As traders await a key US inflation reading later today, prices have showed scant signs of downward momentum at the start of the year. Healthy job growth has also buoyed the US economy, backing the Fed’s stance to hold the line on interest rates for now.

-In commodities, oil edged lower after gaining Tuesday on signs that US sanctions were hampering Russian crude supplies. Gold was steady after volatile trading in its previous session saw it surge to a fresh peak above $2,942 an ounce, before paring back.

-Prime Minister Narendra Modi will make an official working visit to the US on 12th and 13th of February. He’s scheduled to have a bilateral meeting with US President Donald Trump. PM Modi will also interact with US business leaders and with members of the Indian community.

-Industrial production data and cpi inflation data for December 2024 will be released this evening. Mutual Funds data will be out at noon.

-Hexaware Technologies IPO is set to open today and will close on February 14. The IT services provider has fixed the price band between ₹674 to ₹708 per share.

Tune in to the Marketbuzz Podcast for more cues