Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic stock markets started the day’s trade moving between gains and losses before slipping deep into the red.
Non-institutional Investors have bid for the IPO 0.17 times while employees of the company have bid for 0.41 times the quota reserved for them.
Bond markets opened the week with a positive bias aided by government’s surprise announcement of excise duty cuts in the previous week and benign global cues in the early part of the week.
Domestic brokerage and research firm Edelweiss believes these three stocks along with IRCTC, MindTree, Tata Power, and four others could become large caps soon while it believes Yes Bank, Punjab National Bank, Lupin, and 7 other stocks could be downgraded to midcaps.
Paytm’s Rs 18,300-crore IPO — the largest to date on Dalal Street — was subscribed a total of 1.89 times with Qualified Institutional Investors bidding in the largest numbers.
For the coming session , 18200 would be seen as immediate hurdle; whereas on the lower side, 18000 followed by 17850 are to be considered as key supports.
“When there is a fight between the DM and EM currencies $-rupee remains in a range and that is what we are seeing at the moment.
We believe the current breather should not be seen as negative instead it should be capitalized to accumulate quality banking stocks for the next leg of up move.
In the coming session, the index is likely to open on a positive note tracking positive Asian cues.
“Nifty range now stands at 18,000 – 18,200 and any attempt to breach either of the levels should bring a good directional move.
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic stock markets may look to continue their positive momentum on Tuesday, after having inched higher during the previous trading session.
However, if the Nifty sustains above 18100, it may continue its positive trend towards 18400 in the coming sessions.
Aggressive traders can consider buy on dips with strict stoploss loss,’ said Gaurav Udani, CEO & Founder, ThincRedBlu Securities.
This also signal a range bound action in the market at the crucial overhead resistance,” he added while suggesting that Nifty may be in for range-bound activity in the coming trading sessions.
PB Fintech, which runs the online insurance marketplace Policybazaar, made a strong debut on the exchanges on Monday to find a place among the country’s most-valued companies.
Conclusion: The short term uptrend of Nifty remains intact and the present range bound action is not confirming any reversal from the highs as of now.