Global markets are suggesting Mixed signals, so our Indian markets are likely to start with a “Flat” opening today.
The Indian stock market is expected to be volatile, with investors advised to be cautious. The US market’s performance will impact Indian markets, with a predicted 20% decline.
Quadrant Future Tek’s IPO was oversubscribed 186 times, with retail investors contributing significantly, leading to a strong demand for shares priced at Rs 290.
* The IPO proceeds will be allocated for working capital, capital expenditure, and debt repayment, with shares set to debut on January 14.
* Delta Autocorp’s IPO was oversubscribed 340 times, primarily by non-institutional and retail investors, indicating strong market interest.
* BR Goyal Infrastructure IPO share allotment is expected to be finalized today, with a subscription rate of 118 times and a grey market premium (GMP) of approximately Rs 51.
Gold prices are on track for their best weekly performance since mid-November, with spot gold stable at $2,670.16 per ounce, reflecting a gain of over 1% this week.
* Investors are closely monitoring upcoming U.S. jobs data, with expectations of a 160,000 increase in non-farm payrolls for December, which could influence Federal Reserve interest rate decisions.
Equity indices fell nearly 1% due to heavy selling, with TCS down 1.6%, Tata Elxsi down 0.4%, and IREDA down 3.4%.
* Analysts recommend avoiding TCS and Tata Elxsi due to bearish trends and lack of buyer demand, while suggesting IREDA as a buy with a target price of 245 and a stop loss at 208.
