Global markets are suggesting Mixed signals, so our Indian markets are likely to start with a “Flat” opening today.
Indian markets are expected to remain subdued with a slight negative bias, as indicated by a modest bounce in the Nifty and continued selling by Foreign Institutional Investors (Flls).
* Indian benchmark indices Sensex and Nifty 50 are expected to open on a muted note, influenced by trends from GIFT Nifty trading around 23,985.50.
* The Nifty Auto and Pharma sectors showed some resilience, while other sectors like Nifty IT and Nifty Realty experienced a loss of momentum, indicating a shift in market dynamics.
* Carraro India shares are set to debut on the exchanges today after a successful IPO subscription of 1.18 times, indicating moderate investor interest.
* IL&FS Engineering and Construction has secured a Rs 302.82 crore project for the Bhubaneswar Metro Phase-l, focusing on the construction of an elevated viaduct.
* Ola Electric is facing significant leadership challenges with the recent resignations of its Chief Technology and Product Officer, Suvonil Chatterjee, and Chief Marketing Officer, Anshul Khandelwal, amid a broader trend of executive exits.
UPI is projected to surpass 171 billion transactions in 2024, reflecting a significant 45% growth from the previous year, with a total transaction value expected to reach Rs 245 lakh crore, a 34% increase.
* The U.S. dollar remains strong, supported by rising Treasury yields and expectations of pro-growth policies from the incoming administration, with the dollar index up 2.3% for the month and 6.6% year-to-date.
Gold prices have risen due to increased safe-haven demand amid geopolitical tensions, particularly in the Middle East, and investor anticipation of U.S. Federal Reserve interest rate policies.
* Asian shares experienced a slight dip of 0.2% as high Treasury yields challenge equity valuations, while the U.S. dollar remains strong near multi-month peaks.
