Home Market ETMarekts Morning Podcast: What will sway your markets today?

ETMarekts Morning Podcast: What will sway your markets today?


hello there… good morning

This is Prachi Sharma, your market jockey, with the morning briefing to get you up and running for a busy day on Dalal Street.

The bogey on carry trade unwinding continues to haunt equity and currency markets and US bonds are simply not relenting.

Back home, the Karnataka saga is turning out to be a thriller of epic proportions, straight out of Bollywood. The latest twist was the Supreme Courts refusal to stay swearing-in ceremony of the new chief minister. It's advantage BJP, for now.

As the political drama unfolds with nail-biting episodes, the market is really getting nervous — very, very nervous.

That's the trade setup this morning.

Nifty futures in Singapore were barely changed early this morning. That should add to the worry of Dalal Street.

Asian markets traded mixed, shrugging off a stronger close on Wall Street. US bond yield topped out at 3 per cent. And that's scary for investors.

US stocks ended higher in overnight trade, riding on retail stocks and solid results from department store company Macy's.

Meanwhile there is no letup in geopolitical tensions. But thankfully, oil prices seem to be getting steady

The dollar index, which tracks the currency movement against a basket of rivals, was little changed too.

Just look at the rupee which is going nowhere. Thanks to RBI's rescue act, it rebounded and ended the day with a half a per cent gain.

In Q4 earnings, Voltas, ICRA, Central Bank, Bajaj Finance and Bajaj Finserv are among a few names to report their numbers today.

Now, some corporate news. The government is acting tough with PSU banks. It's looking to impose strict deadlines on banks for their turnaround plan.

In a new twist to the ongoing Fortis Healthcare saga, the groups former co-promoter Shivinder Singh, in a letter to the board, has raised objections to the way the bidding process has been run.

SoftBank is said to be exploring a possible investment in restaurant discovery and food delivery firm Zomato. The talks are at a very preliminary stage.

The Supreme Court on Wednesday stayed the liquidation process of Jaypee Infratech subject to Jaiprakash Associate (JAL), its parent, depositing Rs 1,000 crore with the courts registry by June 15.

Thats it for today. Thank you for listening in. Do log on to www.etmarkets.com for round-the-clock market coverage, lots of investment tips and dozens of stock recommendations from top brokerages.

Enjoy your trading day and make lots of money. Until tomorrow… good bye.

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