Indian Stock Market Expected to Open on Negative Note Amid Global Market Volatility
The Indian stock market is expected to open on a negative note, according to the GIFT Nifty index. The index has indicated that the Nifty50 may decline by 24 points at the opening bell, as traders await the speech of US Federal Reserve Chair Kevin Warsh at the Jackson Hole Symposium.
Asia-Pacific markets are trading mixed, with Japan's Nikkei 225 rising 0.82% and South Korea's Kospi falling 1.14%. The Dow Jones Industrial Average and S&P 500 settled 0.2% and 0.72% higher overnight, while the Nasdaq Composite ended 1.57% higher.
The Jackson Hole event is in focus, with gold and silver futures trading down 0.75% and 1.21%, respectively. Oil prices are also declining, despite simmering US-Iran tension, with September futures trading 0.35% down at $88.20 per barrel on the Intercontinental Exchange.
In the Indian IPO space, Priority Jewels and ESDS Software Solutions' initial public offers will open for subscription today. Tempsens Instruments (India) will debut on the exchanges today, with a Grey Market Premium of ₹330 indicating a listing price of ₹630, a premium of 110% above the issue price of ₹300.