Stock Market Live Updates, Indian Share Market News Today: After a strong rally on Dalal Street in the previous session, the positive momentum is expected to continue, with benchmark equity indices poised to test fresh record highs amid supportive global cues.
The GIFT Nifty was trading 45 points, or 0.17 per cent, higher at 26,427 as of 7:25 AM. The Nifty is now just 70 points away from its all-time high, while the 30-share Sensex is 368 points short of its record peak.
Across Asian markets, equity benchmarks were trading firmly in the green, led by gains in Japan’s Nikkei and South Korea’s Kospi. According to Bloomberg, global equities are close to wiping out their losses for November, with the MSCI All Country World Index rising for a fifth consecutive session.
Overnight, Wall Street extended its winning streak as optimism around potential interest rate cuts continued to fuel buying interest. The S&P 500 advanced 0.69 per cent, while the technology-heavy Nasdaq gained 0.82 per cent.
Back home, a key development emerged from the foreign exchange market, with the International Monetary Fund reclassifying the rupee’s exchange rate regime from ‘floating’ to ‘crawl-like’, citing a moderation in the central bank’s forex interventions in recent times. A crawl-like arrangement refers to small, gradual adjustments in the currency to reflect inflation differentials between a country and its trading partners.
Nifty levels to watch
A sustained 15-minute close above 26,277 could trigger fresh upward momentum towards the 26,350–26,500 zone, with a potential short-term extension towards 27,000, said Ponmudi R, CEO of Enrich Money. “On the downside, immediate support is seen at 26,100–26,000, while a stronger safety buffer lies around 25,850 in the event of a sharper pullback. Momentum indicators remain supportive,” he added.
IPOs today
There is no activity in the mainboard IPO segment today. In the SME space, the IPO of SSMD Agrotech India Ltd. will close for subscription, while the issues of K K Silk Mills Ltd. and Mother Nutri Foods Ltd. will enter their second day of bidding.
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