Marketbuzz Podcast with Vivek Iyer: Sensex, Nifty 50 set to open flat ahead of August inflation data
Episode 1095, Sep 12, 2023, 03:25 AM
Indian benchmark indices — Sensex and Nifty 50 — were set to open little changed on September 12, a day after Nifty 50 hit a record high in the previous session, ahead of retail inflation data for August.
India's GIFT Nifty on the NSE International Exchange was up 0.06 percent at 20,130.50 at 8:07 am.
Nifty 50 and the S&P BSE Sensex rose in the last seven sessions, adding 3.86 percent and 3.54 percent, respectively, after data showed that India's economy expanded at the fastest pace in a year in the June quarter. The Nifty 50 breached the 20,000 mark for the first time ever on Monday, hitting a fresh record. The Sensex settled 500 points away from the record high hit on July 20.
Yesterday was a very good day for equity markets worldwide with all of the US indices ending higher with NASDAQ gaining over a percent. Oil prices yesterday were largely flat with futures trending closer to the $87 a barrel mark. While Brent futures now continue to hover slightly about the $90 a barrel mark in the trading session.
Meanwhile, July industrial production data and CPI data will come out today. Also, the IPO of TPG Capital-backed RR Kabel is also set to open for subscription today.
It remains to be seen how much further the markets move higher and whether 20,000 can be maintained on a sustainable basis.
Tune in to Marketbuzz Podcast for more news and cues ahead of today’s session
India's GIFT Nifty on the NSE International Exchange was up 0.06 percent at 20,130.50 at 8:07 am.
Nifty 50 and the S&P BSE Sensex rose in the last seven sessions, adding 3.86 percent and 3.54 percent, respectively, after data showed that India's economy expanded at the fastest pace in a year in the June quarter. The Nifty 50 breached the 20,000 mark for the first time ever on Monday, hitting a fresh record. The Sensex settled 500 points away from the record high hit on July 20.
Yesterday was a very good day for equity markets worldwide with all of the US indices ending higher with NASDAQ gaining over a percent. Oil prices yesterday were largely flat with futures trending closer to the $87 a barrel mark. While Brent futures now continue to hover slightly about the $90 a barrel mark in the trading session.
Meanwhile, July industrial production data and CPI data will come out today. Also, the IPO of TPG Capital-backed RR Kabel is also set to open for subscription today.
It remains to be seen how much further the markets move higher and whether 20,000 can be maintained on a sustainable basis.
Tune in to Marketbuzz Podcast for more news and cues ahead of today’s session