Today’s Market News :
Trends on GIFT Nifty indicate a positive start for the broader index in India, with a gain of 43 points or 0.17 percent. The Nifty futures were trading around 25,391 level.
Indian Market:
– Sensex and Nifty rose over 1% on Thursday, mirroring global gains.
– Expectations of increased foreign inflows into domestic equities grow stronger, following U.S. inflation data that bolstered predictions of a 25-basis point rate cut by the Federal Reserve.
– The Nifty 50 catapulted nearly 2 percent, smashing through to an all-time high of 25,433.35 on September 12.
– Among top contributors to Nifty gains, Reliance Industries share price was up 1.66 percent at Rs 2,951.
– All sectors popped in green, with auto, metal, and energy stocks leading majority of the gains.
Global Market:
– Asian stocks traded lower on Wednesday, reflecting investor caution as they anticipate a crucial U.S. presidential debate and the release of key inflation data.
– The Dow Jones index futures were down 133 points, indicating a weak opening in the US stocks today.
– European shares fell on Wednesday, dragged by a drop in shares of chipmakers.
Company News:
– The Government of Singapore bought 13.16 lakh shares in PNB Housing Finance for an average price of Rs 1,097.3.
– Thermax plans to establish a manufacturing facility for the electrolysers, develop the supply chain and localise critical components.
– Kalpataru Projects stock gained over after securing orders worth Rs 2,774 crore, including projects in the T&D business, an airport EPC project from AAI, and a residential building design-build project.
Support and Resistance Levels for Nifty 50 and Bank Nifty :
For Nifty 50, the support levels are around 24,800 and 24,600, while the resistance levels are at 25,100 and 25,400.
For Bank Nifty, the support levels are at 50,800 and 49,894, while the resistance levels are at 51,140 and 51,760.
