Stock Market Today: Tuesday’s opening of the BSE Sensex and NSE Nifty50 Indian stock benchmarks is anticipated to be lower due to unfavourable market signals from outside. Prior to the start of Dalal Street trading, the SGX Nifty, a leading indicator of the Nifty index, dropped as high as 81.5 points or 0.4 percent to 18141.5.
Tuesday’s top brokerage calls
Reliance Industries’ stock got a “buy” call from UBS with a target price of Rs 3,250. The brokerage thinks the business has excellent segment performance to support year-over-year (YoY) and quarter-over-quarter (QoQ) EBITDA growth.
Piramal Pharma’s stock got a “buy” call from Jefferies with a target price of Rs 150. According to the brokerage, challenges that Contract Development and Manufacturing Organizations (CDMO) had over the previous 12 to 18 months are finally being overcome.
Stock Market Today: BankNifty
With tight support seen in the 43400-43500 zone and BankNifty likewise moving sideways for the past two to three sessions, a significant breakout above these levels is required to establish a clear upward trend in the days to come. Once more, unless greater clarity and confidence are developed, the general bias and emotion are maintained with a cautiously upbeat approach.
What GMP signals?
All eyes are now focused on the Radiant Cash Management Services IPO’s stock market debut as the share allocation has been finalised. On Tuesday, December 27, 2022, the final day of subscriptions for Radiant Cash Management Services’ first public offering (IPO), 53% of the shares had been purchased.
According to market watchers, shares of Radiant Cash Management are currently trading at a premium (GMP) of Rs. 7 on the black market. On Wednesday, January 4, 2023, the company’s shares are anticipated to list on the BSE and NSE.
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