1409: Marketbuzz Podcast with Kanishka Sarkar: Gap-up open likely, all eyes on rupee; HCLTech, Delta Corp in focus

Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are top developments from around the world ahead of the trading session of January 14 -Sensex on January 13 cracked over 1,000 points to dive below the 77,000 level, tracking heavy selling in global equities and a spike in international crude prices. The NSE Nifty dropped 345 points or 1.5% to close at 23,085. A strong US jobs data erasing early rate cut expectations, the rupee logging its steepest single-day fall in nearly two years and unabated foreign fund outflows also dampened investors' sentiment. -The real pain was felt in the broader markets on Friday and Monday was an extension of that. Both the Midcap and Smallcap indices fell 4% each on Monday with multiple stocks now having corrected between 20% to 40% from their peaks. In just the last six trading sessions, the Midcap index is down 9%, while the Smallcap index has gone one better, declining 11%. -Nagaraj Shetti of HDFC Securities believes that the underlying trend of the Nifty remains weak and the index is now headed lower towards its next support zone between 22,800 - 22,700 levels. Any pullback towards 23,350 could be a selling opportunity. -The GIFT Nifty was higher this morning, trading at a premium of more than 100 pints from Nifty Futures Monday close, indicating a gap-up start for the Indian market. -Stocks to watch: HCLTech, United Spirits, JSW Energy, Quess Corp, Angel One, Delta Corp, Anand Rathi Wealth -Global cues: The dollar fell against almost every major currency after Bloomberg News reported that Donald Trump’s incoming economic team is considering gradual hikes in tariffs. The Bloomberg Dollar Spot Index dropped as much as 0.4% in early Asia trading Tuesday, after a report showed Trump’s economic advisors are discussing a slow and steady approach to tariffs, rather than a large one-time increase. -Oil prices slipped at market open this morning but remained near four-month highs as Chinese and Indian buyers sought new suppliers in the wake of the Biden administration's toughest sanctions yet on Russian oil. Brent futures slipped 0.27% to $80.79 a barrel. -Asia-Pacific markets traded mixed this morning after a mixed session on Wall Street that saw the Dow soar and the Nasdaq slip as investors rotated out of tech stocks. -Overnight in the U.S., the Dow Jones Industrial Average climbed, outperforming the market, while the Nasdaq Composite slipped as traders continued to sell off major tech stocks that have powered the bull market. -Investors will continue monitoring India’s rupee after it weakened to a record low against the U.S. dollar. India on Monday reported inflation data for December, which declined for a second straight month year on year, coming in just below expectations at 5.22% and boosting the case for prospective interest rate cuts. Tune in to the Marketbuzz Podcast for more

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1409: Marketbuzz Podcast with Kanishka Sarkar: Gap-up open likely, all eyes on rupee; HCLTech, Delta Corp in focus is an episode from MarketBuzz by CNBC-TV18.

This episode is 6:38 long.

This episode was published on Jan 14, 2025.

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