Nifty to Open Up Ahead of US Inflation Data; Two Companies to List Today

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Nifty to Open Up Ahead of US Inflation Data; Two Companies to List Today

By Aditya Raghunath

Investing.com -- Nifty 50 Futures  in Singapore are trading up 0.26% as of this report indicating a gap up opening for Nifty 50 and the BSE Sensex 30 today.

Nifty closed at 17,355 on September 13, and markets experts say that sentiment is uncertain. A fall below 17,250 could indicate further weakness in the market while bulls say that Nifty is expected to consolidate between 17,400 – 17,500.

Retail inflation in August softened to 5.3%, the lowest it has been in four months according to data from the National Statistical Office.

The true gauge of sentiment today will be visible in the listing prices of two debutant companies: Ami Organics and Vijaya Diagnostic.

Foreign institutional investors (FIIs) were net buyers to the tune of Rs 1,419.31 crore on September 13.

Asian markets are trading mixed with Nikkei 225 up 0.58%, KOSPI 50 up 0.91% and the Shanghai Composite is down 0.12% as of this report.

Investors now await US inflation data for clues about the US Federal Reserve’s timetable to begin asset tapering. The data will give direction to the market on Wednesday.

US stocks closed higher after losing for five straight sessions. Dow Jones 30 Futures are up 0.17% while S&P 500 Futures are up 0.16% and Nasdaq 100 Futures are up 0.11% as of this report.

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