Stock Market LIVE: Nifty, Sensex may see higher opening; GIFT Nifty rises 190 points | News on Markets

— Nifty is poised for a potential uptick as bulls look to capitalise on positive momentum from Wall Street

 

–Traders are likely to adopt a risk-on approach, driven by strong cues from Wall Street, the expectation of a rate cut by the Federal Reserve in September, and robust US retail sales figures, which have eased recession concerns. 

 

–The July US CPI data further boosts confidence that inflation will return to the Fed’s 2% target. 

 

–Risk appetite is expected to improve significantly only above the Nifty 24,497 mark. 

 

–In Wednesday’s session, FIIs were net sellers by Rs 2,595 crore, while DIIs bought Rs 2,236 crore. 

 

–Nifty options data suggests a trading range of 24,000-25,000, with 25,000 acting as a key resistance level. 

 

–Key stocks to watch include Aurobindo Pharma, Bajaj Auto, Naukri, and TVS Motors, with a bullish outlook on Aurobindo Pharma for the month.

 

Pre-market views by: Prashanth Tapse, senior VP (research) at Mehta Equities Ltd

 

M&M: Mahindra & Mahindra (M&M) unveiled its ‘Thar Roxx’ SUV on Independence Day, August 15, 2024, at a starting price of Rs 12.99 lakh. READ MORE

In the first quarter (Q1) of 2024-25 (FY25), the capital goods, pharmaceutical, and automotive sectors achieved impressive growth rates of 25-34 per cent, leading the way. Metals, banking, insurance, information technology (IT) services, and defence manufacturers also performed well. In contrast, oil and gas, fast-moving consumer goods (FMCG), and cement companies lagged behind. READ MORE

Overnight in the US, stocks rallied sharply after bets on US rate cut in September rose on further positive economic data. Day after the Consumer Price Index posted its lowest year-over-year increase in 3 years, retail sales superseded Wall Street expectations with 1 per cent growth in July as against an expectation of 0.4 per cent. READ MORE