After making a positive start to open above the 20100 level, the benchmark Indian equity index Nifty 50 lost the northward momentum and has been range-bound around 20050 on Thursday.
“The market is starting the day with a subdued yet cautious tone following yesterday’s impressive trading session. As we approach today’s expiry, there’s an anticipation that the Nifty’s positive momentum will persist, propelling it towards the 20,250 levels. Notably, the 20,000 Put strike on the downside holds substantial Open Interest (OI), expected to serve as a limiting factor against potential declines,” said Shrey Jain, Founder and CEO SAS Online.
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The Bank Nifty index started today’s session at 44,711.20, up 144.75 points from the previous close. However, it shed as much as 235.50 points during intra-day trade on Thu…
Global coal prices, which were trading at a lower range in the first half of the current financial year, are likely to see a spurt in the second half, likely having an impact on domestic e-auction prices of the fuel as well.
However, Coal India may still not revise the prices up through the year, analysts said. The state-run company may come under greater pressure to scale up output to mitigate the effect of higher prices of imported coal on the power companies and electricity tariffs to the consumers.
Domestic prices are currently at a discount of 40-50% to international markets, experts say.
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