1292: Marketbuzz Podcast with Kanishka Sarkar: Sensex, Nifty 50 headed for gap-up opening, TCS, HCLTech in focus

-Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are all the important updates ahead of the trading session of July 12

-Tech stocks will be in focus today. A good set of earnings from TCS is likely to aid sentiment today. Not only did TCS Q1 revenues and margins beat estimates, the company says FY25 will be better than FY24. Brokerages are also positive on the TCS stock. UBS has raised target price to Rs 4,600.

-Another IT stocks to watch today is HCL tech which is due to report its earnings after market hours today, whereas Infosys will report on July 18. Among other big names, Reliance Industries earnings report is due on next Friday i.e. July 19.

-The Nifty 50 holds firm at 24,300. While it finds support between 24,150 - 24,200 levels, it continues to face hurdles at the 24,400 mark. That has been the pattern all through this week and the weekly options expiry session yesterday was no different.

-On the global front, hopes are rising that the US Federal Reserve will eventually bite the bullet and start cutting interest rates by September. But, back home, RBI governor Shaktikanta Das, in an exclusive interaction with CNBC-TV18, said that it is too soon to think of interest rate cuts.

-Besides TCS, stocks like Anand Rathi Wealth and GTPL Hathaway will also react to their quarterly results reported after market hours on Thursday.

-Foreign investors were net sellers in the cash market on Thursday, while domestic investors were net buyers. For the week, the Nifty is absolutely flat.

-The GIFTNifty was trading with a premium of nearly 65 points from Nifty Futures' Thursday close, indicating a gap-up start for the Indian market.

-Asian technology stocks fell Friday, echoing declines on Wall Street as slowing US inflation sparked a rotation out of Big Tech. The yen was volatile. A gauge of Asian tech stocks fell as much as 3.1%, reflecting declines of more than 1% in Japan and South Korea. Equities in Hong Kong and Australia gained, while Chinese shares fluctuate.

-The Nasdaq 100 dropped 2.2% Thursday, weighed down by some of the year’s big winners, including Nvidia Corp. and Microsoft Corp.

-The moves followed data showing US core consumer prices rose at the slowest pace since 2021, bolstering the case for Federal Reserve rate cuts. Optimism over lower rates sparked a sector rotation from Big Tech into the likes of real estate and materials companies.

Tune in to Marketbuzz Podcast for more cues