Indian stock market witnessed Nifty rebounding from 24,400, yet facing resistance near 25,000. Analysts suggest stock-specific strategies due to expected volatility. A breakout above 25,000 could propel Nifty towards 25,500, while support lies at 24,400. Metal and consumption stocks show promise, IT and financial stocks are currently under selling pressure.
LG Electronics is set to launch its Indian arm's IPO in October, aiming to raise 15,000 crore. The offering, approved by Sebi, involves selling 15% of the local unit. This move follows a postponement due to market volatility and seeks to capitalize on the current bullish primary market momentum, making it potentially the largest IPO of 2025.
Foreign investors heavily sold Indian equities in August, withdrawing over 80,000 crore in July and August combined. Financial services faced the brunt, with 9,817 crore offloaded in the second half of August, following 13,471 crore earlier. IT stocks also experienced sustained pressure, with FPIs selling 4,905 crore in the latter half after an earlier sell-off.
"Russia appears to be escalating with the largest attack of the war hitting offices of the UKR Cabinet in Kyiv," Keith Kellogg wrote on X, adding, "The attack was not a signal that Russia wants to diplomatically end this war."
