Market Ahead Podcast, August 18: Top factors that could guide markets today

After Nifty's sprint past the 16,600-mark on Tuesday, now Sensex could make a dash for 56,000 in early trade. The 30-pack index had closed at 55,792 in last session. Although, the possibility of profit booking at higher levels and ahead of a market holiday on Thursday looms. Moreover, volatility could also remain high amid weekly F&O expiry and mixed global market trend. At 7.35 am, SGX Nifty was trading 34 points higher at 16,637.

On the global market front, Wall Street's main indexes slid in overnight session, with the S&P 500 logging its biggest one-day percentage fall in about a month, weighed down by a drop in US retail sales that raised concerns about the economic recovery, as well as by disappointing results from Home Depot. 

Overall, the Dow Jones Industrial Average fell 0.79%, the S&P 500 lost 0.71% and the Nasdaq Composite dropped 0.93%.

Despite a weak Wall Street finish, markets in Asia held on to slim gains. Japan’s Topix index added 0.4%, Australia’s S&P/ASX 200 Index was steady, South Korea’s Kospi index increased 0.3% and Hong Kong’s Hang Seng Index rose 0.1%.

Further, oil price movement and FII flow will continue to sway investor sentiment. On the global front, market participants would eye the US Fed minutes that are due for release post market hours. 

Now, a look at stock-specific triggers that are likely to sway the market today.

In a partial relief to HDFC Bank, the Reserve Bank of India has allowed the lender to issue new credit cards, sources in the bank said. In December last year, the banking regulator had directed HDFC Bank not to issue new credit cards and halt all launches of its digital business-generating activities under its programme Digital 2.0. 

Canara Bank opened its QIP on Tuesday to raise up to Rs 2,500 crore and set the floor price of the issue at Rs 155.58 per equity share. 

Cadila Healthcare will be in focus after Zydus Cadila received tentative approval from the US health regulator to market Lenalidomide capsules used for the treatment of various types of cancers.

ISGEC Heavy Engineering has bagged an order for two gas fired boilers from Naval Project, Indian Navy. The scope of work includes manufacturing of two 40 TPH Boilers on a turnkey basis.

CARE downgraded credit rating on IFCI's long term bank facilities to BB from BBB- and maintained Negative outlook.

HCL Technologies has signed a five-year IT transformation deal with Wacker Chemie AG, German multinational chemical company, to establish a modernized digital workplace and improve its quality-of-service delivery.