Markets Poised for Slight Rebound, Sensex and Nifty Expected to Open Higher

28 Nov 2023 , 08:28 AM

The Sensex and Nifty indices are expected to open slightly higher on November 28, with the GIFT Nifty suggesting a positive start for the broader index, anticipating a gain of 11 points.

As of November 24, the BSE Sensex was down by 48 points at 65,970, while the Nifty50 had declined by 7 points to 19,795. The daily scale showed a small bearish candlestick pattern with minor upper and lower shadows.

In the Asia-Pacific region, markets are poised for a slight rebound after all major indexes ended the day in negative territory on Monday. Oil prices eased lower on Tuesday following Qatar’s announcement of a two-day extension to the truce between Israel and Hamas.

The primary market is expected to be busy in the truncated week starting from November 28, with seven companies set to list on the bourses. This includes five from the mainboard segment, and five IPOs will be opening for subscription.

Following the successful closing of awaited IPOs by Tata Technologies, Indian Renewable Energy Development Agency (IREDA), Gandhar Oil Refinery India, Fedbank Financial Services, and Flair Writing Industries last week, these companies are likely to make their debut on the BSE and NSE next week, following the T+3 timeline.