Nifty Likely to Open on Cautious Note; What to Expect from Markets Today

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Nifty Likely to Open on Cautious Note; What to Expect from Markets Today
Credit: © Reuters.

By Aditya Raghunath -- Early cues indicate that Nifty and the BSE Sensex are likely to open on a cautious note today. Nifty 50 Futures in Singapore are trading up less than 0.1% pointing to a flat opening.

Market analysts have said that there are no signs of weakness or reduced sentiment in the market but Nifty took to take a breather near 17,200 levels.

All eyes will be on the two IPOs that are scheduled to launch today: Specialty chemical maker Ami Organics and healthcare chain Vijaya Diagnostics. August was not a good month for IPOs with over 70% of the companies that listed still trading below their issue prices. Markets have seen relentless buying for a week. Will the positive sentiment help these IPOs?

The last two trading days in August saw foreign institutional investors (FIIs) reverse their selling strategies and start buying Indian equities but FIIs still ended up net sellers in June to the tune of Rs 2,568.52 crore.

Asian markets are trading mixed as of this report with Nikkei 225 up 1.27% while KOSPI 50 and the Shanghai Composite are up less than 0.1%.

Wall Street ended slightly lower on Tuesday. Dow Jones futures are up 0.26% while S&P 500 futures are up 0.25% and Nasdaq 100 Futures are up 0.15%.

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  • Rakesh Prasad @Rakesh Prasad
    I am unable to invest as market is too high to buy.
    Like 0
  • Abhiseka Mohapatra @Abhiseka Mohapatra
    India will surge today also
    Like 5

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