Welcome back to CNBC-TV18’s Marketbuzz Podcast, here are all the important updates ahead of the trading session of June 21

-GIFT Nifty was trading with a premium of seven points this morning from Nifty Futures' Thursday close, indicating a muted start for the Indian market.

-Global cues continue to remain stable. Asian stocks crept higher this morning after US shares hit an intraday record overnight. The yen was in focus following a six-day slump which ratcheted up the risk of intervention. Equity benchmarks ticked higher in Japan and Australia, while Korean shares fell. A 1% drop in the Golden Dragon index of US-listed Chinese companies weighed on sentiment.

-Overnight, the S&P 500 briefly topped 5,500 before losing traction, while the high-flying tech group powering the bull run came under pressure. The Nasdaq 100 slipped after a seven-day advance with Nvidia Corp. and Apple Inc. leading losses in megacaps.

-Back home, Nifty 50 seems to be consolidating around record highs though it lacks directional cues. This trend may continue till the end of the month, post which companies start reporting their business updates for the quarter followed by their quarterly results.

-For today, the market only has global cues to react to and there are plenty of them. The initial jobless claims in the US, the Bank of England interest rate decision, the US crude oil inventory data and of course, how Wall Street behaved overnight.

-IT stocks will be in focus post Accenture’s earnings. Accenture says discretionary spending is constrained, particularly in smaller projects. Brokerage firm Morgan Stanley is of the view that Accenture results and commentary pointed to a few positive data points such as strategy and consulting returning to growth and a pickup in smaller deals.

-Stocks to watch: IT stocks, YES Bank, Aster DM, Amara Raja, Union Bank of India, ONGC, GIC Housing, Jindal Stainless

Tune in to the Marketbuzz Podcast for more cues