Indian markets opened on a positive note today. Notably, Tega Industries IPO is opening for subscription today. The markets are expected to react to GDP numbers. Also, auto companies are likely to be in focus as they will release November sales data. Meanwhile, Asian stocks were mixed Wednesday as traders weighed Federal Reserve Chair Jerome Powell’s comments that officials should consider a faster removal of monetary stimulus amid high inflation. On Monday, the Indian share markets traded on a volatile note with the BSE Sensex down 195 points, while the Nifty dipped 70 points.
Markets opening view: -Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
While the index has opened with a gap, traders should not be hasty to jump on the long side. The markets have stiff resistance levels on the upside. On the contrary short positions can be strategically timed with strict stops. Since the market has opened with a gap, the risk-reward ratio would be favorable. If the Nifty does not hold 16900, we could drop to 16500.
Most sectoral indices in the green
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26 of 30 Sensex stocks in green
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Anand Rathi IPO: GMP jumps ahead of opening date. Should you subscribe?
Anand Rathi IPO (Initial Public Offering) will open for subscription on 2nd December 2021 and it will remain open for bidding till 4th December 2021. India’s leading non-banking wealth solutions firm plans to raise ₹660 crore from its public issue and it has fixed price band of the issue at ₹530 to ₹550 per equity share. Ahead of subscription opening date, grey market has started to give positive signal in regard to Anand Rathi IPO. As per the market observers, shares of Anand Rathi Wealth are available at a premium of ₹125 in the grey market today.
Reliance Jio new prepaid plans start today
Reliance Jio new prepaid tariff plans start today, and if you wonder it would be any different from Bharati Airtel or Vodafone Idea pepaid packs then you must read this story. The Mukesh Ambani-owned telecom company has decided to increase the prepaid plans rate starting December 1, 2021. It came after two of its competitors, Airtel and Vodafone Idea did so to generate more revenue. The entire prepaid rates have been revised by nearly 20 per cent.
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Nifty opens…
Read More: Sensex 500 pts up, Nifty at 17.1k; Most sectoral indices in green