1227: Marketbuzz Podcast with Kanishka Sarkar: Nifty 50 to open lower, all eyes on RBI policy, US jobs data

Hello and welcome to CNBC-TV18’s Marketbuzz Podcast. Here are all the important cues ahead of the trading session of April 5



-All eyes today will be on two data points – RBI policy and US jobs data



-Overnight in the US, all three major indexes lost ground, with the Dow Jones Industrial Average falling 1.3% to record its worst session since March 2023, and logging its fourth consecutive losing day. The S&P 500 dropped 1.2%, while the tech-heavy Nasdaq Composite

 saw the largest loss of 1.40%. This was after comments from the US Federal Reserve officials fueled worries that the central bank could hold off on rate cuts.



-Asia-Pacific markets also fell this morning, led by Japan’s Nikkei 225, which was down over 2% after briefly crossing the 40,000 mark on Thursday, while the broad based Topix was 1.7% lower.



-Oil prices continued to rise, with Brent crude reaching a new six-month high of $90.65 per barrel.



-Reserve Bank of India’s April rate decision is due today and the consensus is that there will be no change in key lending rates. The policy outcome could further determine the direction for the market.



-Barring HDFC Bank, the rest of the market appeared choppy on Thursday. The Nifty opened well above 22,600, could not sustain those gains, turned negative, nearly fell below 22,300 but reversed and eventually closed above 22,500. There were trades available on both sides of the spectrum but that came with extreme volatility.



-For the week, the Nifty is still up 1% and set for its third straight weekly advance. The index is poised for to gain for the seventh out of the last eight weeks



-Both foreign and domestic investors were net sellers in the cash market on Thursday.



-GIFT Nifty, traded with a discount of more than 30 points from Nifty Futures' Thursday close, indicating a start in the red for the Indian market.



-Stocks to watch: Bajaj Finance, IndusInd Bank, Bandhan Bank, Cipla, Nestle India, Sobha, Prestige Estates, L&T, Sula Vineyards, Avanti Feeds



Tune in to the Marketbuzz Podcast for more cues