Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading in the red on the first day of the new Samvat 2078.
Three firms — One97 Communications, owner of Paytm; Sapphire Foods India, which operates KFC and Pizza Hut outlets; and Latent View Analytics — are set to launch their initial share-sales this week to collectively mop up about Rs 21,000 crore.
The support for this market lies at 17550-17600 and until we do not break that on a closing basis, the trend of the Nifty is positive.
Base metals traded up on eased worries over power shortage in China and positive demand prospects from the US.
However, the commentary that reiterated the Fed’s view that inflation would be transitory and the inference that tapering is not likely to lead to rate hikes soon, is being interpreted by the markets as a dovish stance.
Since it was a truncated week on the back of the Diwali festival, markets remained more or less in a range of merely 300 points, where both the support and resistance range played out accurately.
Nifty futures were trading 71 points or 0.40 per cent up at 18,011.50 on Singaporean Exchange, suggesting a gap-up opening for BSE Sensex and Nifty 50.
Hectic fundraising through IPOs will continue this week, with three firms — One97 Communications, owner of Paytm; Sapphire Foods India, which operates KFC and Pizza Hut outlets; and Latent View Analytics — are set to launch their initial share-sales to collectively mop up about Rs 21,000 crore.
Asian stock markets were trading lower, while oil prices jumped over one per cent.