Stock Market Today LIVE: Gift Nifty Signals Weak Start For Sensex, Nifty 50 Ahead Of RBI Policy Outcome
Global market cues remain mixed as Asian markets traded mostly lower, while the US stock market ended higher overnight, with the S&P 500 and the Nasdaq posting record closing highs.
Stock Market Today LIVE: The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open lower on Wednesday, tracking mixed global market cues. Investor sentiment is likely to remain cautious ahead of the Reserve Bank of India's (RBI) monetary policy decision, with focus shifting to the central bank's policy stance and forward guidance.
The trends on Gift Nifty also point to a negative start for the Indian benchmark indices. Gift Nifty was trading around 22,670, indicating a discount of nearly 125 points to the previous close of Nifty futures.
The RBI is widely expected to raise the repo rate by 25 basis points (bps) to 5.50%, amid concerns over rising inflation, elevated global bond yields, higher crude oil prices, a weakening rupee and a broader global shift towards tighter monetary policy.
If delivered, the rate hike would be the RBI's first since February 2023 and would take the repo rate up from 5.25%, where it has remained for nearly 10 months.
While the rate hike has been largely priced in by markets, there is less clarity over whether the RBI will also alter its policy stance.
On the global front, Asian markets traded mixed, while the US stock market ended higher overnight, with the S&P 500 and the Nasdaq posting record closing highs.
Stay tuned to this segment for live updates on the Indian stock market today.
Stock Market Today LIVE: HCL Tech, Ola Electric, Mahindra Lifespace, Godrej Consumer, Among Stocks To Watch Today
Shares of HCL Technologies Ltd., Ola Electric Mobility Ltd., Godrej Consumer Ltd., Mahindra Lifespace Developers Ltd. and Blue Dart Express Ltd. will be in focus on Wednesday.
Stock Market Today LIVE: Nifty May Face Resistance At 22,800
The level of 22,800 remains the immediate resistance zone for Nifty 50.
“A sustained breakout and close above this level could strengthen the recovery momentum and pave the way for a move towards the crucial 23,000 mark. The 23,000 level is likely to remain a significant hurdle, and a decisive breakout above it would be important for the broader trend to turn more positive,” said Ponmudi R, CEO of Enrich Money.
On the downside, 22,600 remains the immediate support, followed by 22,400. A decisive break below 22,600 could weaken the ongoing recovery and bring the lower support levels back into focus, he added.
“Momentum indicators have also shown a marginal improvement, suggesting some easing in the recent downside pressure. The near-term technical outlook has improved to cautiously positive, although the broader trend remains under pressure. Sustained trading above 22,800, followed by a decisive breakout above 23,000, would be crucial to confirm a stronger and more sustainable recovery,” he said.
Stock Market Today LIVE: Nifty Finds Hurdle At 22,930 To Extend Pullback Rally Amid Easing Crude Oil Prices
The Nifty is now approaching the 22,900-22,930 zone, which is expected to act as an important hurdle for the index. A sustained move above 22,930 could extend the ongoing pullback rally towards the 23,100 mark, analysts said.
Stock Market Today LIVE: Gold Prices Hold Gains, Silver Steady
Gold prices held gains amid a decline in bond yields eased pressure on the US Federal Reserve to hike interest rates this month. Spot gold price was flat at $4,167.05 an ounce, while silver price was steady at $61.34.
Stock Market Today LIVE: RBI Likely To Hike Repo Rate By 25 Bps
The Reserve Bank of India (RBI) will announce its fourth bi-monthly monetary policy for FY27 today. Analysts expect the RBI Governor Sanjay Malhotra-led Monetary Policy Committee (MPC) to raise the benchmark repo rate by 25 basis points to 5.50% from 5.25%, where it has remained for nearly 10 months. However, Street is divided on the stance.
Stock Market Today LIVE: Wall Street Gains; S&P, Nasdaq Post Record Closing Highs
US stock market ended higher on Tuesday, with the S&P 500 and Nasdaq posting all-time closing highs, supported by steady crude oil prices and easing Treasury yields.
The Dow Jones Industrial Average gained 253.14 points, or 0.49%, to 51,521.04, while the S&P 500 rallied 45.00 points, or 0.58%, to 7,818.95. The Nasdaq Composite closed 122.48 points, or 0.45%, higher at 27,599.79.
Stock Market Today LIVE: Asian Markets Mixed; Nikkei Falls, Kospi Rises
Asian markets traded mixed on Wednesday. Japan’s Nikkei 225 eased 0.12%, while the Topix rose 0.12%. South Korea’s Kospi gained 0.44% and the Kosdaq slipped 1.21%. Mainland China markets remain closed for a holiday.
Stock Market Today LIVE: Gift Nifty Hints Weak Start For Nifty 50, Sensex
The trends on Gift Nifty also point to a negative start for the Indian benchmark indices. Gift Nifty was trading around 22,670, indicating a discount of nearly 125 points to the previous close of Nifty futures.
Stock Market Today LIVE: Sensex, Nifty 50 Likely To Open Lower
The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open lower on Wednesday, tracking mixed global market cues. Investor sentiment is likely to remain cautious ahead of the Reserve Bank of India’s (RBI) monetary policy decision, with focus shifting to the central bank’s policy stance and forward guidance.
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