1279: Marketbuzz Podcast with Kanishka Sarkar: Sensex, Nifty 50 headed for muted start, Happiest Minds in focus

Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are all the important updates ahead of the trading session of June 25

-On June 24, the bulls got the dip they wanted on the Nifty at the start of the June series expiry week. That dip was swiftly bought into, leading to a 200-point recovery on the index. The sector rotation continued and banks saw little follow-through.

-Specific pockets dominated Monday's trade. As swiftly as the fertiliser stocks went up all of last week, they sold off equally swiftly on Monday after no headway was made on the GST rate cut for the sector. On the other hand, holding company stocks sprung into action with most of them ending 20% higher post a SEBI Circular on a special call option for fair price discovery.

-Till the end of the series, barring a specific trigger, the action in the market is most likely to remain confined to specific pockets.

-The market also looks forward to the presentation of the Union budget, the official date for which is yet to be announced. Before the union budget though, the companies will start reporting their June quarter business updates starting next week, followed by their quarterly results.

-In terms of global cues, shares in Asia edged higher this morning to defy a mixed day on Wall Street as speculation gained that the tech sector rally may be running out of steam. Equities in South Korea, Australia and Japan advanced. Stock futures in Hong Kong pointed up as the Nasdaq Golden Dragon China Index, a gauge of US-listed Chinese shares, climbed 1.3% on Monday.

-Overnight in the U.S., the Dow Jones Industrial Average added 0.67%, while the S&P 500 slid 0.31%. However, the tech-heavy Nasdaq Composite saw its worst day since April, sliding 1.09%.

-Back home, the GIFT Nifty traded with a premium of more than 10 points from Nifty Futures' Monday close this morning, indicating a muted start for Indian market

-Stocks to watch: Happiest Minds Technologies, Amara Raja Energy, Craftsman Automation,
Borosil, Swan Energy, SH Kelkar, Muthoot Capital Services, RBL Bank, AU Small Finance Bank, Satin Creditcare, Ind-Swift Laboratories

Tune in to the Marketbuzz Podcast for more cues