Stock Market News Live: GIFT Nifty Signals Muted Start To Indian Equities, Asian Stocks Rise
The GIFT Nifty was trading near 24,900 early Friday. The futures contract based on the benchmark Nifty 50 was up 1.38% at 24,950 as of 6:19 a.m., indicating a positive start for the Indian markets. The benchmark indices on Wednesday snapped their eight-day losing streak and ended in the green.
US Technology Shares Rally
US technology shares rallied, defying weakness in other parts of the stock market, after an OpenAI share sale valued the artificial intelligence company at $500 billion. The Nasdaq 100 rose 0.4% in its fourth consecutive day of gains. The S&P 500 gained 0.1% while Dow Jones Industrial Average up 0.2%.
Avenir Investment RSC to Purchase Stake in Sammaan Capital
Avenir Investment RSC, an affiliate of Abu Dhabi-based International Holding Company, has agreed to purchase a 43.46% stake in Sammaan Capital for nearly $1 billion (Rs 8,850 crore), the non-banking financial company said in a regulatory filing to the stock exchanges on Thursday, Oct. 2. The NBFC, formerly known as Indiabulls Housing Finance, will be raising the capital by issuing preferential shares to Avenir after getting requisite approval. The investment will see IHC emerge as the new promoter of Sammaan Capital. Jefferies was the sole advisor to Sammaan Capital.
Indian Equity Markets Live Coverage
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GIFT Nifty Trading Update
The GIFT Nifty was trading little changed at 24,945.50 early Friday as of 6:50 a.m., indicating a positive start for the Indian markets.
Benchmark Indices Update
The benchmark indices on Wednesday snapped their eight-day losing streak and ended in green. At close, Sensex rose 715.69 points, or 0.89%, to 80,983.31, while Nifty was up 225.20 points, or 0.92%, to 24,836.30. Nifty rose as much as 1.04% during the day to 24,867.95, while Sensex was also up 1% at 81,068.43.
What to Expect Today
As the Indian markets open, all eyes will be on the GIFT Nifty and the benchmark indices. The positive start to the day is expected to continue, with the Nifty and Sensex expected to trade higher. However, the markets are expected to be volatile, with investors keeping a close eye on global cues and domestic economic data.
Top Stocks in Focus
Some of the top stocks in focus today include Sammaan Capital, after Avenir Investment RSC agreed to purchase a 43.46% stake in the company. Other stocks in focus include those from the technology sector, after US technology shares rallied overnight.
Investor Sentiment
Investor sentiment is expected to be positive today, after the benchmark indices snapped their eight-day losing streak and ended in green on Wednesday. However, investors are advised to exercise caution, as the markets are expected to be volatile.
Conclusion
In conclusion, the Indian stock market is expected to open positive today, with the GIFT Nifty and benchmark indices expected to trade higher. However, investors are advised to keep a close eye on global cues and domestic economic data, as the markets are expected to be volatile. Stay tuned for more updates and analysis from the Indian equity markets.
