Indices
Nifty Outlook: Nifty is expected to remain under pressure today as a sharp rise in crude oil prices continues to weigh on investor sentiment. WTI crude is trading in the $103–104 per-barrel range after rising around ~ +7.5% in the previous session, while Brent has moved toward the $108 mark.
On the upside, the 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.
On the downside, a sustained break below 23,400 could trigger further selling pressure and drag the index toward the 23,200 zone.
Commodities
Brent crude prices are now nearing $107.9/barrel, a 7-8% increase from previous day price, due to escalations in West Asia yet again.
Gold: Gold price in Mumbai stands at ₹158,495 / 10 gram for 24 karat gold (99.9% purity)
Silver: The price of silver in Mumbai today is ₹255.10 per gram and ₹2,55,100 per kilogram.
FII/DII Data
FII/FPI: -438 crore
DII: +1026 crore
Global Markets
GIFT Nifty: Gift Nifty signals gap down start; currently trading at 23,339.
US Markets: U.S. stock indexes fell for a fourth straight day on Thursday as surging oil prices and rising Treasury yields heightened inflation worries.
Asian Markets: Asian Markets fell sharply amid rising oil prices and global uncertain conditions.
News & Events
- SEBI chief says India’s CAS liquidity concerns are not unique, wherever CAS was introduced liquidity remained a problem and it builds up over a period of time.
- Varun Beverages subsidiary Kiva Spirits and Co ltd eyes acquisition of Alcobrew, building its presence in the alcoholic beverages market
- Chinese President Xi to visit India for 18th BRICS summit.