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Live: Can Nifty reclaim 20k in October? Vedanta in focus on 6-way split| Auto Sales, JSW Infra listing

Indian markets staged a smart recovery a day after clocking a 1 percent cut on September 28. Key indices managed to close the week only 0.2 percent lower. The Nifty settled 0.18 percent down at 19,638 and the Sensex was down 0.27 percent at 65,828 for the week. Within sectors, Nifty Realty and Nifty Pharma were the top gainers while IT and Consumer Durables were the top losers. Meanwhile, the broader markets remained buoyant with Nifty Midcap 100 and Nifty Smallcap 100 gaining 1 percent and 2.18 percent for the week, respectively. With the onset of October, market experts believe that the ‘sell on rally’ market construct is likely to change, pushing Nifty back towards the psychological 20,000 mark. This morning global cues are mixed with both Wall Street futures and Asian markets trading sideways to higher. The GIFT Nifty is hinting at open below 19,600. Meanwhile, today the market will react to September auto sales numbers and Vedanta’s announcement of a demerger into 6 listed entities. Also in focus will be RK Forgings after board approval to raise funds via QIP. 2 new listings to wath out for today – JSW Infra and Vaibhav Jewellers. Catch Nandita Khemka in conversation with Rakesh Arora, Managing Partner - Go India Advisors and Sacchitanand Uttekar, Tradebulls Securities.

first published: Oct 3, 2023 08:36 am