Marketbuzz Podcast with Vivek Iyer: Sensex, Nifty 50 likely to make muted start

Indian benchmark indices — Sensex and Nifty 50 — are seen opening marginally higher on June 27 after trading in a narrow range in the previous session, as investors look for new triggers, while interest rate worries are likely to keep investors on edge.

There is also a slightly mute clip of a handover from the global markets, especially the US market. While most of the US markets ended in the red, the NASDAQ was a cause of worry as the tech-heavy index fell by over a percent.

As the tech sell-off continued, Tesla went down over six percent as Goldman Sachs downgraded this stock and NV shares too fell over 3.5 percent in the trading session yesterday.

Meanwhile, back home, the Nifty 50 now needs to hold on to its 20-day exponential moving average which is around the 18,650 level. Resistance is being seen where the Nifty is trying to breach the higher level.

While the overall markets were quite muted, there was significant action in the primary markets where the ideaForge Technology IPO got fully subscribed within two hours of opening for subscription already. It is subscribed over 3.5 times.

The shares of Cyient will be in focus as one of the company’s subsidiaries Cyient DLM will be opening its IPO for subscription today.