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Ajit Mishra of Religare Broking said that 24,000-24,200 zone has emerged as the next major support for Nifty. He also said that Indian Bank, PB Fintech and Shriram Finance are showing a bullish setup.
The RBI has proposed a common framework for loan pricing, including benchmark-linked rates, board-approved pricing policies and tighter rules on loan spreads. The draft also proposes APR caps for small-value and microfinance loans.
Nirmala Sitharaman confirmed that RBI’s proposal to introduce ₹10 and ₹20 plastic bank notes have been approved by the government. Here’s what she said about the timeline of the launch.
Gift Nifty was trading around the 24,423.50 level, down nearly 50 points from the Nifty futures’ previous close, indicating a flat start for the Indian stock market indices.
Indian stock market indices, Sensex and Nifty 50, are predicted to open lower amid mixed global cues. The Nifty 50 closed below 24,500, with analysts highlighting key resistance and support levels amidst ongoing market volatility and concerns over rising crude oil prices.
US-Iran war: Brent crude futures had fallen $1.29, or 1.5%, to $87.69 a barrel, while US West Texas Intermediate (WTI) crude declined $1.30, or 1.6%, to $81.97 a barrel.
Buy or sell: Vaishali Parekh recommends three intraday stocks to buy today —Rain Industries, Indus Towers, and SBI
The Indian stock market is expected to open lower on August 13 due to mixed global cues and concerns over high crude oil prices. The Nifty 50 finished below 24,500, highlighting ongoing investor caution amid geopolitical tensions affecting oil supply and market sentiment.
IRFC delivered its strongest-ever quarter, but a shrinking loan book, falling margins, government stake sales and a still-premium valuation are weighing on the stock.
Stock market today: Gift Nifty was trading near the 24,446.5 mark, down over 24 points from the previous close of Nifty futures.