Marketbuzz podcast with Ekta Batra: Sensex, Nifty 50 likely to open in green amid positive global cues

As the trading week begins on May 8, here are all the cues and news you need to watch out for in trade today.

On Friday, markets recorded what was the biggest single day fall seen in two months as HDFC twins stocks fell sharply. The MSCI rejig news led to a fall of around 6 percent each HDFC and HDFC Bank, which was one of the biggest in three years.

However, overnight, there was some amount of global reprieve. For the US markets on Friday, the Dow jumped 500 points as regional banks and Apple shares surged while April jobs data too was better than expected.

However, Goldman Sachs says that despite the strong jobs data, it still expect a pause from the Fed in the June meet because of the consecutive rate hikes undertaken by the US central bank until now.

Asia was mixed as at the time of recording this podcast with SGX indicating a positive start.

Another positive queue on the fringe is Brent crude which closed down 5 percent last week. It was the third straight negative week for Brent crude.

Overall, while Friday was a weak session, the larger queue for the Indian markets is that the trend seems positive because on a week to day basis, last week, 35 of the 50 stocks recorded gains last week inclusive of the likes of Asian Paints and Titan, which were top gainers.