Sensex today | Live stock market updates: Sensex, Nifty set to open higher; Gift Nifty Green Trading

In the second week of November, investors will closely monitor the impact of various factors on the stock market, including second-quarter results, both domestic and global macroeconomic data, foreign capital inflows, and global market indicators. Last Friday, a report from the United States indicated easing inflationary pressures, as it revealed that employers had hired fewer workers than expected. Analysts viewed this jobs report as encouraging for the Federal Reserve.

Oil prices experienced an uptick on Monday following the announcement from leading oil exporters Saudi Arabia and Russia that they would continue with voluntary oil output cuts until the end of the year. This decision aims to maintain tight supplies. Additionally, investors are keeping an eye on the possibility of stricter U.S. sanctions on Iranian oil.

Sensex Today Live: Cello World IPO Listing Date Today

Today marks the debut of Cello World on the market. Analysts anticipate that the company’s shares may be listed at a premium of 22-25% on November 6. Given the favorable response from major investors, experts predict the stock’s initial trading range to be between ₹790 and ₹810, surpassing the offer price of ₹648.

Moreover, in the gray market, the stock is currently trading with a 24% premium. The gray market serves as an informal trading platform where shares are traded before their IPO allocation and leading up to the listing day.

Sensex Today Live | Stock Market Update: Wall Street Closes Best Week of the Year with More Gains

Wall Street wrapped up a strong week with significant gains, making it the best week in nearly a year.

The S&P 500 index recorded an increase of 40.56 points, or 0.9%, reaching 4,358.34 and maintaining an upward trajectory throughout the week. The Dow Jones Industrial Average also rose by 222.24 points, equivalent to 0.7%, closing at 34,061.32, while the Nasdaq composite surged by 184.09 points, or 1.4%, reaching 13,478.28.

This week’s stock rally was primarily driven by growing optimism that the Federal Reserve has completed its interest rate hikes, suggesting that inflation is under control. A report on Friday indicated a reduction in inflationary pressures due to lower-than-expected job additions by employers.

This performance signifies a remarkable turnaround from just a week ago when Wall Street was recovering from a 10% decline below its yearly high, placing the main index in a “correction” phase. Strong earnings reports have played a pivotal role in driving certain stocks to higher gains. Generac, a backup generator manufacturer, witnessed a nearly 28% increase, marking its best week since its stock debut in 2010. Expedia Group’s stock also surged by nearly 22%, supported by a stronger-than-expected report, marking its best week since the market’s turmoil during the early days of the coronavirus pandemic.