1348: Marketbuzz Podcast with Kanishka Sarkar: Sensex, Nifty likely to make gap-up start, Titan, Adani Wilmar in focus

Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are top developments from around the world ahead of the trading session of October 7

-The Nifty 50 on Friday did huff and puff its way to somehow close above 25,000, it could not avoid registering its worst week of 2024, a week that saw ₹17 lakh crore erosion in the overall market capitalisation of BSE-listed companies. The trio of HDFC Bank, ICICI Bank and Reliance Industries contributed to over 40% of the sell-off seen on the Nifty during Friday's session, although FMCG stocks were the ones that triggered the move downwards during the final trading day of the week.

-The upcoming week promises no respite either. The tensions between Iran and Israel continue to remain an overhang as there has been no positive development on that front. This will also have an impact on the Reserve Bank of India's policy decision on Wednesday.

-While a majority of CNBC-TV18's Citizen's MPC believes that the RBI should not cut rates, they believe that there should be a change in the central bank's stance to "neutral."

-Earnings season begins in the second half of the upcoming week with TCS kickstarting proceedings on Thursday, October 10, along with other broader market names like Tata Elxsi, IREDA and others.

-The Nifty bulls may look for some respite on Monday considering the oversold setups and a positive handover from Wall Street post the non-farm payrolls data.

-Stocks to watch: Titan, IndusInd Bank, Federal Bank, Macrotech Developers, Godrej Properties, Adani Wilmar, Metropolis Healthcare, RBL Bank, L&T Finance, GAIL, Gravita India, MTNL, Landmark Cars

-Asian stocks rose this morning after stronger-than-expected US payroll data underscored the health of the world’s largest economy and boosted optimism over a soft landing. Equity benchmarks in Australia, South Korea and Japan all gained after the S&P 500 and Treasury yields rose on Friday as traders trimmed bets on Federal Reserve interest-rate cuts. US 10-year yields climbed a further one basis point Monday, nearing the key 4% threshold.

-Over in the U.S, stocks advanced on Friday after a stronger-than-expected jobs report gave investors confidence around the health of the economy. Data showed nonfarm payrolls grew by 254,000 jobs in September, far outpacing the forecasted gain of 150,000 from economists polled by Dow Jones.  The S&P 500 rose 0.9%, while the Nasdaq Composite jumped 1.22%. The Dow Jones Industrial Average added 0.81% to notch an all-time closing high of 42,352.75.

-Oil drifted lower as traders weighed Israel’s potential retaliation against Iran for a missile attack last week, with President Joe Biden discouraging a strike on Tehran’s crude fields.

-The GIFT Nifty was trading higher, at a premium of over 80 pts from Nifty Futures Friday close, indicating a gap-up start for the Indian market.

Tune in to the Marketbuzz Podcast for more cues