Markets
Stock market today: Jio IPO opens, Eternal and Adani Green results, Nifty 22,800 in focus
Markets reopen after Dussehra with a positive GIFT Nifty, India's biggest IPO and a busy results day.
Indian markets reopen today after Tuesday's Dussehra holiday. On Monday the Sensex fell 876 points (1.17%) to 73,852.90 and the Nifty 50 fell 257 points (1.11%) to 22,888.95. GIFT Nifty at 23,012.50 this morning suggests a firmer start, helped by the Dow's 530-point rally.
The big event is the Jio Platforms IPO, which opens today and closes on Friday. An IPO (initial public offering) is when a company sells shares to the public for the first time. The price band is ₹1,065–1,119, one lot is 12 shares (₹13,428), and the ₹30,213 crore issue is India's largest. Its anchor book, the portion sold to big institutions a day early, drew bids of over ₹2.5 lakh crore. Watch the day-wise subscription figures, which show how many times the shares on offer have been applied for.
Quarterly results due today include food-delivery company Eternal (which owns Zomato and Blinkit), Adani Green Energy and Mahindra & Mahindra Financial Services. On Thursday, HPCL, Havells, Swiggy and Colgate report. For the Nifty, Kotak Neo's analysts see support near 22,800 and resistance at 23,000–23,200. Support is a level where buyers have tended to step in; resistance is where sellers have tended to appear.
Key takeaway: today's mood will depend on whether foreign funds keep selling, how oil behaves near $110 and the early demand for Jio's IPO.
The Jio IPO will set a valuation marker for Reliance and telecom stocks, while results from Eternal and Adani Green will guide sentiment in new-age tech and renewable energy shares.
Why it mattersA huge IPO absorbs cash: investors may sell other shares to apply, which can weigh on the wider market during the subscription days.
Sources
Written with AI assistance by TotalMarket. Based on the sources linked in this article; key facts and data should be checked against the original sources. This article is for information only and is not investment advice.
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