Indices
Nifty Outlook: Nifty likely to remain under pressure as the broader market structure continues to remain bearish due to elevated crude oil prices and rising U.S. Treasury yields, amid persistent geopolitical tensions.
Nifty could further move downside with the next support at 23,250. While on the upside the 23,550–23,600 zone now represents the immediate resistance area. A sustained move above 23,600 could provide some stability and trigger a recovery toward the 23,800 zone.
Commodities
Brent crude prices is at$100.9/barrel due to escalations in West Asia.
Gold: Gold price stands at ₹1,58,155 for 10 gram for 24 karat gold (99.9% purity)
Silver: The price of silver in Mumbai today is ₹255 per gram and ₹2,55,000 per kilogram.
FII/DII Data
FII/FPI: -583 crore
DII: +1509 crore
Global Markets
GIFT Nifty: Gift Nifty hints a muted start at 23,494
US Markets: U.S. major stock indexes closed lower on September 09, marking their third consecutive day of losses as oil prices topped $101 a barrel and Treasury yields climbed.
Asian Markets: Asian stock markets are trading lower indicating weak start.
News & Events
- Cabinet has approved 10,783 crore rail expansion projects, aiming to ease congestions.
- Small Banks turn to Fintechs for Merchant Payments.
- Ola’s 229 crore bet on three-wheelers faces delay.
- BirlaNu bets on construction chemicals, pipes with 500cr capex plan.
- NSE cuts IPO price range at 1700-1785 from earlier market range of 2000-2100.