1028: Marketbuzz podcast with Vivek Iyer: Sensex, Nifty50 likely to open on a positive note

SGX Nifty is indicating a positive start for Indian benchmark indices Sensex and Nifty50.

On Tuesday, Nifty closed closer to the 18,600 level in a late surge. Nifty witnessed quite a bit of weakness. 

Nifty has faced resistance around the 18,600 mark and it has not been able to go ahead and hit or go across the 18,700 level with conviction. 

Talking about overnight markets, US markets were largely flat, with the Dow Jones incidentally closing almost flat and S&P 500 2 percent higher, and Nasdaq was around 0.4 percent up. 

However, the majority of the action lay at the broader end of the US markets with the Russell 2000 index gaining over 2.7 percent in yesterday’s trading session. 

On Wednesday, keep an out for defence names. There is a lot of news flow in terms of memorandums of understanding (MoUs) being signed, the german defence minister visiting. So watch out ofr names such as HAL, shipbuilding companies, etc. All of these stocks have done significantly well in the trading session. 

And the key that markets will be watching out for would be the outcome for the RBI monetary policy.

Tune in to Marketbuzz Podcast for more news and cues ahead of today’s session