3 weeks ago
GIFT Nifty Hints Negative Start; Brent Crude Above $83.50
The stock market is a big scoreboard that shows what companies are worth.
This story is about the Indian stock market and two of its famous scoreboards, the Sensex and the Nifty.
Before the trading day began, a signal called GIFT Nifty suggested that prices might start a little lower.
The price of crude oil, the stuff that becomes petrol, went up a bit overnight, which can worry some investors.
The Sensex stayed above 24,500 points, and market experts think it is building a strong base.
If the base holds, they expect it to rise to 24,800 points and then possibly to record highs.
The Nifty rose on six of the last seven trading days, and it needs to close above 24,383 points for the bulls to end the week with gains.
Bulls are investors who think prices will go up.
India's biggest bank, the State Bank of India, is sharing its quarterly results today, so everyone is watching banks closely.
Some Tata Group companies are also in focus because of reports that Tata Sons might be listed on the stock market.
GIFT Nifty hinted at a negative start for Indian markets, while Brent crude rose above $80 a barrel overnight, with the headline citing levels above $83.50.
The Sensex held the 24,500 level on the downside, which analysts see as a base for a move towards 24,800 and eventually record levels.
The Nifty has gained in six of the last seven trading sessions and needs a close above 24,383 for the bulls to end the week with gains.
State Bank of India (SBI) is reporting its results today, keeping the entire PSU bank basket in focus.
Tata Group companies are on watch over reports of a potential Tata Sons listing, along with PG Electroplast, Hero Moto, and Titan.
- Who
- Bulls and analysts tracking Indian equity markets, State Bank of India (SBI) reporting results, and Tata Group companies in focus.
- What
- Live stock market update: GIFT Nifty hints at a negative start, the Sensex holds 24,500 as a base, Brent crude rebounds above $80, and the Nifty needs a close above 24,383 for weekly gains.
- Where
- Indian stock markets, tracked via Sensex, Nifty, and GIFT Nifty.
- When
- Today, during the live trading session, in a week where the Nifty has gained in six of the last seven sessions.
- Why
- Analysts see the index forming a base for a move towards 24,800 and record levels, while SBI results and news of a potential Tata Sons listing drive stock-specific action.
Key facts
- GIFT Nifty
- Hints at a negative start
- Brent crude
- Above $80 a barrel overnight; headline cites above $83.50
- Sensex downside support
- 24,500
- Analyst upside target
- 24,800, then record levels
- Nifty level needed for weekly gain
- Close above 24,383
- Nifty recent trend
- Gained in six of the last seven trading sessions
- SBI results
- Reporting today; PSU bank basket in focus
- Stocks to watch
- PG Electroplast, Hero Moto, Titan; Tata Group on reports of a potential Tata Sons listing
Sources
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