For Friday, January 2, 2025, markets are likely to start the day flat, taking cues from the global markets and key economic updates. The GIFT Nifty tanked into the red, down below 23,885 around 6:40 am. Investors will keenly await India’s Manufacturing PMI and global indicators, including China’s Caixin PMI and U.S. jobless claims. Adding to the action would be Nifty’s weekly F&O expiry, which is set to keep the traders on their toes.
In IPO news, IndoFarm Equipment Ltd IPO GMP is ₹90-exhibiting a strong premium of 42% over its ₹215 price band. The IPO, subscribed 54.5 times in two days, will conclude its bidding today, reflecting strong interest by investors. Meanwhile, the SME IPO space sees Technichem Organics nearing closure with a 38.5x subscription. Leo Dry Fruits continues its second day of bidding, while Davin Sons Retail and Parmeshwar Metal are open for fresh bids.
Market sentiments appear to be divided. Australia’s S&P/ASX 200 inched up 0.17%, while South Korea’s Kospi slipped 0.3% into the red. Nikkei remains closed for the New Year holiday.
Analysts said the Nifty faces resistance near 24,000. Immediate support was placed at 23,550. “A breach above 24,000 can take it towards 24,500 levels.” Similarly, Bank Nifty too looks strong and is moving in a range of 50,500–52,000.
IndoFarm Equipment Ltd IPO GMP ripples across markets
Additionally, IndoFarm Equipment Ltd IPO GMP excitement could ripple across markets as retail investors eye listing gains. The company’s strong GMP reflects confidence in its fundamentals. In contrast, the fertilizer sector may gain traction after the government extends subsidies for DAP fertilizer.
On the regulatory front, simplified disclosure norms by SEBI, effective this quarter, promise listed firms easier compliance. Against this backdrop, GST collections for December grew 3.3% YoY to ₹1.54 trillion, maintaining fiscal momentum.
Watch the unfolding market dynamics with mixed signals and vibrant IPO activity.
Also, see: Maruti Suzuki India decides to raise 4% price from January 2025