Stock Market Today: Nifty Levels Rise Ahead of Key CPI and IPO Announcements
Current Market Status
Share market today is poised for an optimistic start, with the Nifty expected to rise substantially. GIFT Nifty futures are indicating an uptick of 120.5 points, setting the stage for a gap-up opening.
US Market Influence
Recent swings in US markets, particularly a rebound in tech stocks, are bolstering expectations. The Dow Jones has shown positive movement, closing 0.31 percent higher, while tech giant Nvidia’s gains contributed significantly.
Asian Market Overview
- Nikkei surged by 3.38 percent
- Kospi increased by 1.08 percent
- ASX 200 rose 0.59 percent
Market Triggers for Today
India's IIP data and inflation figures are under the spotlight today, with investors anticipating clarity on future market directions amidst global economic fluctuations.
Crude Oil Pricing
Crude oil prices remained stable despite prior fluctuations, with Brent crude trading around $70.86 as traders assess the impact of US production levels amidst ongoing demand concerns.
Technical Insights
- Shrikant Chouhan from Kotak Securities anticipates potential sell-offs below 20-day SMA levels.
- Hrishikesh Yedve warns of resistance if Nifty breaches 25,150.
- Aditya Agarwal recommends caution as short-term trends appear weak.
IPO Updates
Today's IPO activity includes Shree Tirupati's listing and robust demand for P N Gadgil, showcasing strong interest from all investor classes.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.