Stock Market Today: Dalal Street is expected to have a successful start on Friday as the GIFT Nifty on the NSE IX trading 15 points, or 0.08 percent, higher at 19,782.50. On the daily chart, the Nifty closed 116 points higher today after surmounting the immediate resistance of 19650 levels. According to Nagaraj Shetti of HDFC Securities, the overall chart pattern is showing a greater upward breakout of the broader consolidation/triangle pattern of the last 5 weeks, which is opening a potential upside objective for Nifty around 20,000-20200 levels over the coming few weeks.
Rupee falls; Tokyo stocks opened lower
In the midst of a strong US dollar and outflows of foreign money, the rupee fell against the US dollar for the fourth straight day, ending the day 10 paise weaker at its all-time low of 83.23. On Friday, Tokyo equities began lower as US tech companies, headed by Apple, fell due to concerns about China.Early trading saw a loss of 0.57 percent, or 187.69 points, for the benchmark Nikkei 225 index at 32,803.39 and a loss of 0.35 percent, or 8.28 points, for the wider Topix index at 2,373.67.
Stock Market Today: Jupiter Life Line Hospitals IPO remained high
On the second day of the auction, interest in Jupiter Life Line Hospitals IPO remained high. In contrast to the 84.97 lakh shares that were offered, investors purchased 2.8 crore equity shares, resulting in a 3.3-fold oversubscription of the IPO, which was primarily supported by HNIs and retail. The good subscription numbers are mostly due to the fair values, the likelihood of being debt-free after the issue, and strong financial performance with healthy ratios, according to experts. The 15% of the overall issue size intended for high net worth persons has been booked 6.63 times, and the 35% of the offer reserved for retail investors has been booked 3.08 times.
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