1328: Marketbuzz Podcast with Kanishka Sarkar: Market likely to start lower amid US stocks selloff, banks in focus

MarketBuzz

Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are top developments to track ahead of the trading session of September 4
-The Nifty ended one point higher yesterday. A solitary point. That is after a 250-point rally on the Nifty Bank. On paper, it becomes the 14th straight day of gains for the index. But it pegs the question, has the Nifty finally reached breaking point on the upside, at least for the time being?
-Morgan Stanley says two fundamental and two technical factors that can trigger a correction in the market. However, it reiterated that a correction does not mean the end of a bull market. The brokerage believes that India's current bull market is only past the halfway mark.
-The Nifty Bank will also be in focus on Wednesday as it will be its weekly expiry.
-Stocks to track: Defence stocks, GIC Re, AU Small Finance Bank, Infosys, Nazara Tech, Delta Corp
-In terms of global cues, stocks in Asia sank after a plunge in Nvidia Corp. shares fueled the worst day for US equities since the Aug. 5 rout.
-Oil extended losses from Tuesday’s decline of almost 5% as the possible easing of political unrest in Libya triggered worries about weak demand and oversupply.
-The S&P 500 and the Nasdaq 100 saw their worst starts to a September since 2015 and 2002, respectively. With inflation expectations anchored, attention has shifted to the health of the economy as signs of weakness could speed up policy easing. While rate cuts tend to bode well for equities, that’s not usually the case when the Fed is rushing to prevent a recession.
Tune in to the Marketbuzz Podcast for more news and cues