1325: Marketbuzz Podcast with Kanishka Sarkar: Sensex, Nifty 50 likely to start in green, SpiceJet, Infosys in focus

MarketBuzz

Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are top developments from around the world ahead of the trading session of August 30
-The last time the Nifty gained 11 days in a row was nearly two decades ago, way back in September 2007. The 11th day of gains during its monthly expiry session was courtesy Reliance Industries as one-third of the Nifty's gains on Thursday came from RIL. An otherwise sluggish session on the Nifty was brought to life when Reliance Industries announced that it will consider a 1:1 bonus issue at its board meet on September 5. The resultant spike saw the Nifty make a new high of 25,192 before ending at a record closing high of 25,151.
-A big factor for Friday's trading session though, will be the MSCI adjustments, which will take place in the final few minutes of the trading session. This means that HDFC Bank, which has been an underperformer, will see the first tranche of its weightage increase in the MSCI indices. Analysts are expecting the lender to receive flows ranging between $1.4 billion to $1.8 billion.
-Both foreign and domestic investors were net buyers in the cash market on Thursday but the numbers will also be skewed due to the block deals seen in stocks like InterGlobe Aviation, PB Fintech and Welspun Living.
-Stocks to watch: Infosys, Tata Motors, sugar stocks, RVNL, ITI, NBCC, SpiceJet, CDSL, LIC, Lemon Tree
-Asian stocks advanced as upbeat US growth data suggested the Federal Reserve is engineering a so-called soft landing for the economy. Equities in Australia and South Korea rose while those in Japan inched up. The MSCI Asia Pacific Index headed for a fourth month of gains as traders awaited a key US inflation report due Friday.
-A rally Friday will cap the best month for US and global stocks since June amid bets the Fed will ease policy as it tames inflation without the economy tumbling into recession. US output grew at a slightly stronger pace in the second quarter than initially reported, reflecting an upward revision to consumer spending that more than offset weaker activity in other categories.
-In commodities, oil was steady after jumping Thursday on positive US economic data and worsening supply disruptions in Libya. Meanwhile, gold slipped.
-GIFT Nifty was trading higher this morning at a premium of nearly 20 pts from Nifty Futures Thursday close, indicating a start in the green for the Indian market.
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