Marketbuzz Podcast with Ekta Batra: Nifty 50, Sensex set to open at a new record high, Tata Motors, Wipro in focus
Episode 1152, Dec 11, 2023, 03:15 AM
Indian benchmark indices, Sensex and Nifty 50, are likely to open at fresh all-time highs on December 11, following the biggest weekly gain in more than a year the previous week. All of the front line indices hit record highs on December 8. The Nifty 50 hit 21,000 for the first time ever.
India's GIFT Nifty was down 0.02% from its overnight close at 21,073 as of 8:12 am this morning, indicating that the Nifty 50 will open higher than the December 8 close of 20,969.40.
The ongoing rally is supported by strong macroeconomic data, a drop in crude oil prices, favourable global interest rate outlook, return of foreign inflows and sustained inflows from domestic mutual fund investors.
Meanwhile, the Indian IPO landscape is gearing up for a busy week ahead with three companies, including Doms Industries, India Shelter Finance, and Inox India, set to launch in the primary market.
Globally, Wall Street equities and US Treasury yields rose on December 8 after data showed that jobs growth accelerated in November. Chinese inflation data, on the other hand, was a bit disappointing.
The European Central Bank, Bank of England, Norges Bank and the Swiss National Bank will also announce their monetary policy decision this week.
Asian markets opened lower, dragged by data from China indicating deflationary pressure in the world's second largest economy.
Stocks to track: Zomato, Tata Motors, Wipro, SpiceJet
Tune in to Marketbuzz Podcast for more cues
India's GIFT Nifty was down 0.02% from its overnight close at 21,073 as of 8:12 am this morning, indicating that the Nifty 50 will open higher than the December 8 close of 20,969.40.
The ongoing rally is supported by strong macroeconomic data, a drop in crude oil prices, favourable global interest rate outlook, return of foreign inflows and sustained inflows from domestic mutual fund investors.
Meanwhile, the Indian IPO landscape is gearing up for a busy week ahead with three companies, including Doms Industries, India Shelter Finance, and Inox India, set to launch in the primary market.
Globally, Wall Street equities and US Treasury yields rose on December 8 after data showed that jobs growth accelerated in November. Chinese inflation data, on the other hand, was a bit disappointing.
The European Central Bank, Bank of England, Norges Bank and the Swiss National Bank will also announce their monetary policy decision this week.
Asian markets opened lower, dragged by data from China indicating deflationary pressure in the world's second largest economy.
Stocks to track: Zomato, Tata Motors, Wipro, SpiceJet
Tune in to Marketbuzz Podcast for more cues