Marketbuzz Podcast with Kanishka Sarkar: Will Nifty 50 hold on to 22,000? IT stocks in focus

Hello and welcome to CNBC-Tv18’s Marketbuzz Podcast, here are all the important developments ahead of the trading session of March 22

-The Indian market is likely to open in green as the gift nifty suggests amid mixed global cues.

-While other Asia-Pacific markets opened mixed this morning, Japan’s Nikkei 225 crossed 41,000 to hit a fresh all-time high as Japan inflation accelerated in February.

-Overnight in the US, all three major indexes hit fresh records, continuing the rally from Thursday after the US Federal Reserve held rates steady and maintained its rate cut forecast for 2024.

-Oil prices sank in early Asian trading on the possibility of a nearing Gaza ceasefire, which could loosen global supply, at the same time a stronger U.S. dollar and faltering gasoline dampened demand sentiment. Brent crude futures fell to $85.60 a barrel.

-Bitcoin has peeled back more than 10% from its all-time high as the appetite for fledgling spot Bitcoin exchange-traded funds moderates. JPMorgan Chase and Co. strategists warned the retreat has room to run.

-In the previous session back home, Nifty 50 and all other sectoral indices staged a rebound, courtesy the Federal rate decision. The Nifty managed to scale past Wednesday's resistance band of 21,900 - 21,950 to close above the 22,000 mark.

-Even in a rebounding market, foreign investors were net sellers in the cash market yesterday, while domestic investors continued to be buyers.

-Market analysts suggest that the market is not out of the woods yet despite some relief yesterday.

-Stocks in focus: TCS, Infosys, Wipro, PSUs, Bharat Dynamics, Prestige Estates, IRB Infra, DOMS Industries, Tata Communications, Mazagon Dock Shipbuilders, Veranda Learning, IREDA

-The Enforcement Directorate has arrested Delhi Chief Minister Arvind Kejriwal in connection with the ongoing probe into alleged irregularities surrounding the capital's liquor policy.

-The much-awaited Indian Premier League (IPL) 2024 commences today in Chennai, with the Chennai Super Kings and Royal Challengers Bengaluru competing against each other.