Nifty to Have Muted Opening; Experts Say Markets Will Consolidate

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Nifty to Have Muted Opening; Experts Say Markets Will Consolidate

By Aditya Raghunath -- Big bang announcements from Reliance Industries Ltd (NS: RELI ) at its Annual General Meeting (AGM) yesterday failed to enthuse investors as the most-weighted stock on Indian indices closed 2.61% lower. Will that change today? Unlikely.

Nifty 50 and the BSE Sensex 30 are set for a muted opening today. Nifty 50 Futures in Singapore are trading 0.01% lower indicating a flat start for the markets. Market experts have said that Nifty will likely move into a consolidation phase, trading between the ranges of 15,600-15,900. Any further upward movement will be dependent on Nifty closing strong over 15,900.

In the middle of the RIL hoopla, two stocks made their debuts on the exchanges yesterday. Shyam Metalics and Energy Ltd (NS: SHYE ) closed at Rs 376.15, up 23% from its issue price of Rs 306. Sona Blw Precision Forgings Ltd (BO: SONB ) closed at Rs 361.2, up 24% from its issue price.

Asian markets are all trading strongly in the green today, following a record close for Nasdaq 100 and S&P 500 in the US yesterday. Nikkei 225 , KOSPI 50 , and the Shanghai Composite are up 0.75%, 0.72%, and 0.41% respectively at the time of this report.

Stock futures in the US are trading mixed with Dow Jones 30 Futures up 0.4%, S&P 500 Futures up 0.12%, and Nasdaq 100 Futures flat as of this report.

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  • Rocky Khyriem @Rocky Khyriem
    Who dafuq is this Aditya??? Batai stad
    Like 0

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