Stock exchange LIVE: Nifty and Sensex could open higher; GIFT Nifty rises 190 points | Market news

— Nifty faces a possible uptrend as bulls try to capitalize on positive momentum on Wall Street

–Traders are likely to adopt a more risk-on stance, driven by strong signals from Wall Street, expectations of a Federal Reserve rate cut in September and robust U.S. retail sales that have eased recession worries.

— US consumer price index data for July further boosted confidence that inflation will return to the Fed’s 2% target.

–Risk appetite is only likely to improve significantly above the Nifty mark of 24,497.

— In Wednesday’s session, FIIs sold a net Rs 2,595 crore while DIIs bought Rs 2,236 crore.

— Nifty options data suggests a trading range of 24,000-25,000 with 25,000 acting as a key resistance level.

— Key stocks to watch include Aurobindo Pharma, Bajaj Auto, Naukri and TVS Motors with Aurobindo Pharma having a bullish outlook for the month.

Pre-Market Views by: Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd

M&Ms: Mahindra & Mahindra (M&M) unveiled its SUV ‘Thar Roxx’ on Independence Day, August 15, 2024, at a starting price of Rs 12.99 lakh. READ MORE

In the first quarter (Q1) of the financial year 2024-25 (FY25), the capital goods, pharmaceuticals and automobile sectors led the way with impressive growth rates of 25-34 percent. Metals, banking, insurance, information technology (IT) services and defence companies also performed well. In contrast, oil and gas, fast-moving consumer goods (FMCG) and cement companies lagged behind. READ MORE

In the US, stocks rose sharply overnight as more positive economic data boosted bets on a September rate cut. A day after the consumer price index posted its smallest year-on-year increase in three years, retail sales beat Wall Street expectations, growing 1 percent in July versus 0.4 percent expected. READ MORE