Indian stock market: Nifty 50 is above the 24,400 level. Can it rise further this week?
Stock market today: Indian benchmark stock indices rose slightly on Monday, ending six weeks of losses. However, overall sentiment may remain weak due to uncertainty about potential U.S. tariffs on Indian exports.
As of 9:44 am, the BSE Sensex increased by 54 points, or 0.07 percent, to 79,912, while the Nifty50 was up 15 points, or 0.06 percent, at 24,378.
Last week, both the Nifty and Sensex fell by nearly 1%, marking their longest weekly losing streak in five years. Concerns over U.S. tariffs and disappointing corporate earnings affected market sentiment.
U.S. President Donald Trump announced a 50% tariff on Indian imports. Half of this has already been implemented. The remaining 25%, which serves as a penalty for India’s purchase of Russian oil, is set to take effect on August 28.
Market participants are now focusing on the August 15 meeting in Alaska between Trump and Russian President Vladimir Putin. Discussions are expected to focus on finding a possible resolution to the war in Ukraine.
Indian equity indices ended the week poorly, responding to global uncertainties and continued foreign fund outflows. The Nifty 50 fell below the significant 24,400 mark, closing at 24,363.30, down 232.85 points or 0.95%. The Sensex dropped 765.47 points or 0.95% to settle at 79,857.79. Concerns about high global interest rates, weak global market signals, and ongoing profit-taking in major sectors weighed on investor sentiment throughout the week, according to Mandar Bhojane, Senior Technical & Derivative Analyst - Research at Choice Equity Broking Private Limited.
Key technicals to watch this week -
Nifty 50
Bhojane noted that the Nifty has formed six consecutive red candles on the weekly chart, which is a rare pattern showing sustained selling pressure.
The index is nearing a critical support zone of 24,200–24,000, aligning with the 100-day EMA on the daily chart. Any reversal near this zone may present a strong buying opportunity. On the upside, immediate resistance is at 24,590. A decisive close above this level could lead towards 25,000 and 25,250 in the short term. A breakout in either direction will likely determine the next significant move for the index, Bhojane said.
Bank Nifty
Last week, banking stocks followed the overall market downtrend and ended the week lower, with the Bank Nifty falling below the crucial 55,000 level. The index closed at 54,904.90, down 612.70 points or 1.10%.
Ongoing selling in major private sector banks, along with weak global signals, impacted investor sentiment. After a strong performance period, the Bank Nifty is now showing early signs of weakness near its recent highs.
From a technical perspective, the index is receiving support at the 20-EMA and is currently retesting the important 54,900–55,000 zone. On the daily chart, it is also holding above the 100 EMA, which is near 54,935, making it a crucial support level. A sustained move above this zone could spark new buying momentum with potential gains toward 55,600–56,000. The next directional move will depend on how the index reacts around these key levels, he added.
Parth Electricals IPO listing: Shares opened at a 2% premium at ₹174, hitting the 5% upper circuit.
Parth Electricals IPO listing: Shares of Parth Electricals & Engineering had a modest debut on Monday, August 11, opening at ₹174. This was a 2.4 per cent increase from its issue price of ₹170. Shortly after the start, the stock reached its 5 per cent upper circuit limit of ₹182.70.
The listing of this SME stock mostly met expectations. According to grey market sources, it was predicted to list at around ₹176.
Parth Electricals & Engineering began as a service company before transitioning to manufacturing electrical equipment.
Their products include medium-voltage (MV) switchgear panels, vacuum circuit breaker (VCB) panels, earth link boxes, control and relay panels (CRP), and compact substations (CSS).
The company serves a range of clients, including Aditya Birla, Ultratech Cement, L&T, RIL, Adani, Tata Power, Schneider Electric, BHEL, Tata Steel, Siemens, GFL, Jindal Steel & Power, among others.
Parth Electricals IPO details
The ₹49.72 crore SME IPO was a new issue of 29.25 lakh shares. Parth Electricals' IPO price was ₹170 per share.
The issue saw a strong subscription of 23.77 times. The retail portion was booked 20.28 times, while the section for non-institutional investors (NIIs) was subscribed 43.93 times. Qualified institutional buyers accounted for a total subscription of 17.65 per cent.
Jyoti Global Plast shares listed slightly lower at ₹65.90 on the NSE SME: Hit 5% lower circuit
Jyoti Global Plast shares debuted slightly down at ₹65.90 on the NSE SME on Monday. The shares then hit their 5% lower circuit.
Jyoti Global Plast share price movement
On Monday, Jyoti Global Plast's shares opened at ₹65.90, which was slightly below the issue price of ₹60 on the NSE SME. The shares then fell further to ₹62.60, reaching the lower price band. This locked Jyoti Global Plast's share price into the 5% lower circuit.
The Jyoti Global Plast IPO received strong interest. It was subscribed 8.45 times overall. By August 6, 2025, the public offer had been subscribed 9.54 times by individual investors, 1.86 times by qualified institutional buyers, and 14.70 times by non-institutional investors.
Jyoti Global Plast shares had low listing expectations. The grey market premium (GMP) for Jyoti Global Plast shares was at zero, according to investorgain.com. This suggested that Jyoti Global Plast's share price was trading without a premium in the grey market, pegged at the upper band of the issue price of ₹66.
This also indicated that the grey market estimated the listing price of the Jyoti Global Plast IPO around the upper band of the issue price of ₹66 per share.
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