Live: Nifty stuck in a range; OMCs in focus after LPG price cut | Softbank to sell Zomato stake


Indian equity benchmarks gained for a second consecutive session amid volatility in expiry week. The Nifty continued to face strong resistance at 19,350-19,400 area. Experts say a breakout above this zone decisively can lift the index towards 19,500-19,600 levels, whereas the support is expected to remain at 19,250 levels. The BSE Sensex rose 79 points to 65,076, while the Nifty50 climbed 37 points to 19,343. This morning the global cues are very positive with Wall Street clocking a third straight day of gains. The Nvidia fuelled rally sparked a near 2% upmove on Nasdaq. Meanwhile, Asian markets are in fine fettle with Nikkei and Kospi gaining in early trade and the GIFT Nifty hinting at a start above 19,400 for the Nifty. Lots of stocks in focus including Zomato, Lupin and Ami Organics. Meanwhile OMCs will also be in focus after Govt cuts LPG price by Rs 200/cylinder in major relief for consumers ahead of festive season. The IPO of energy efficiency solutions company Rishabh Instruments is the first from the mainboard segment opening for subscription this week. The bidding for the offer starts today, August 30. The book-built issue will close on September 1. The price band for the maiden public issue has been fixed at Rs 418-441 per share. Catch Nandita Khemka in conversation with Aamar Deo Singh, Sr Vice President, Angelone and Ashish Shanker – Managing Director & CEO – Motilal Oswal Private Wealth