Indices
Nifty Outlook: Nifty likely to remain cautious today and stay range bound amid uncertainties.
On the downside, 23,100 remains a strong support/buying zone and any move below that could trigger panic selling and accelerate Nifty towards 23,000-22,800 levels.
On the upside, 23,400 is a resistance and a sustained momentum above it could take it towards 23,600 levels.
Commodities
Brent crude: Brent crude is at ~108/barrel, an increase of almost 15-18% in September.
Gold: Gold price stands at ₹1,55,345 for 10 gram for 24 karat gold (99.9% purity)
Silver: The price of silver in Mumbai today is ₹244.90 per gram and ₹2,44,900 per kilogram.
FII/DII Data
FII/FPI: -2978 crore
DII: +2686 crore
Global Markets
GIFT Nifty: GIFT Nifty is signaling a flat and muted start for the Indian stock market today,as its trading at 23,250, up just 47 points or 0.20%
US Markets: US markets closed lower on Tuesday as rising bond yields and climbing oil prices pressured investor sentiment
Asian Markets: Asian markets are trading with a mixed and cautious tone today, staying relatively flat.
News & Events
- UPI Payments over 2,000 on Person-to-Merchant transactions to attract fees.
- Current account deficit widens to $7 billion in July, imports increased to $76.8 billion dollars and exports rose to $45.1 billion dollars.
- Hero Motors IPO is open for subscription from September 16- September 18, though note that this is for auto-component maker Hero Motors and not the listed two-wheeler giant Hero MotoCorp.
- AI leaders are calling for a slowdown but Wall Street keeps on buying.