Stock Market Live Updates: GIFT Nifty Hints At Lower Opening; ICICI Lombard, Tata Elxsi, Paytm Shares In Focus

Spot silver breaks over the $90 level, marking a fresh high.

The brokerage firm believes the removal of the 10-minute benchmark from quick-commerce apps is net neutral to positive for Swiggy and Eternal.

Elara Capital believes metro demand for quick-commerce has already been entrenched, thus ruling out any significant impact of the move.

Perhaps more importantly, the firm notes that the ten-minute delivery threshold was largely optics-driven rather than a fundamental business guarantee.

Read the whole story here.

Silver hit a record high and gold rose as weaker-than-expected US inflation data supported the case for more interest rate cuts, while the geopolitical situation remained tense.

The white metal advanced as much as 2.5% to touch $89.1644 an ounce, while gold traded neared an all-time peak.

(Source: Bloomberg)

Brent crude has been gaining for 4 consecutive sessions.

From low of $60/bbl, prices moved up to $65/bbl.

But, price still 20% lower compared to 52-week high and 12% lower compared to last 6-month high prices

Why Price Uptrend?

• Geo-political issues on Iran.

• Recently, Trump cancelled meetings with Iran officials.

• With the Iranian uprising and 25% tariff threat, the outcome remains unknown.

• Iran currently accounts for 3.5% of the global crude oil production.

• Iranian oil exports are currently under US embargo.

• Note: India has stopped importing Iranian oil since 2020.

• Nifty January futures down by 0.37% to 25,780 at a premium of 48 points.

• Nifty January futures open interest up by 1.27%.

• Nifty Options on Jan 20: Maximum Call open interest at 26,000 and Maximum Put open interest at 24,500.  

• Securities in ban period: SAIL, Samman Capital