MarketBuzz podcast

1387: Marketbuzz Podcast with Kanishka Sarkar: Indus Towers shares in focus, Bitcoin tops $100,000

2024-12-05
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5:25
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Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are top news from around the world ahead of the trading session on December 5

-A quick recap: The Indian equity market gained for the fourth straight day, marking its longest winning streak in two months. The Nifty 50 shifted into consolidation on December 4 after a sustained up move over the past three trading sessions. While the index closed in the green, it ended off its intraday highs due to a tug of war between positive domestic factors and weak Asian cues.

-Despite a largely positive tone during the session, profit-booking in select heavyweights limited the upside. Sectorally, the performance was mixed, with banking and realty outperforming, while energy, auto, and FMCG faced selling pressure.

-Looking ahead, the market will closely monitor comments from Federal Reserve Chair Jerome Powell and the US jobs data, set to be released today.

-As of this morning, GIFT Nifty was lower, trading at a discount of nearly 50 points from Nifty Futures Wednesday close, indicating a start in the red for the Indian market.

-Stocks to track: Torrent Pharma, Indus Towers, IGL, Bharat Forge

-Global cues: Shares in Asia rose while currency markets opened Thursday on a note of relative calm as traders digested the effects of political crises in France and South Korea. Equities in Japan and Australia climbed, while those in South Korea fell as the country’s opposition party sought to impeach President Yoon Suk Yeol after he briefly imposed martial law. Shares in Hong Kong fell, while those in China were little changed.

-Overnight in the US, benchmark indices on Wall Street scaled new peaks after comments from Fed Chair Jerome Powell ahead of the policy announcement on December 18. The Dow Jones closed above the mark of 45,000 for the first time, the S&P 500 added 0.6% to close near 6,100, while the Nasdaq Composite outperformed, gaining 1.3%. The tech-heavy index is now 1.3% away from the 20,000 mark.

-In terms of commodities, oil steadied after a decline, with traders looking ahead to an OPEC+ meeting on Thursday that’s expected to see the cartel again defer a move to revive output in an already well-supplied market. Brent crude traded above $72 a barrel after sliding by nearly 2% on Wednesday, with West Texas Intermediate below $69.

Tune in to Marketbuzz Podcast for more news and cues

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