Street Signs: Navigating market rapids, IPO Street set to sparkle, and more

The grey market premiums (GMPs) for the three initial public offerings (IPOs) that open this week range between 20 per cent and 55 per cent

Navigating market rapids: Buckle up for Nifty’s wild ride

On two occasions in the past week, the benchmark National Stock Exchange Nifty fell sharply after registering new record highs. Market players expect this trend to continue as the 50-share blue-chip index faces tough resistance at around 22,700. On Friday, the index, after hitting a record high of 22,795, ended at 22,476 as Vix (volatility index) spiked 9 per cent to hit a two-month high of 14.62. “The sharp increase in the India Vix suggests caution among traders. Resistance is expected in the 22,750–22,900 zone in case of further upward movement.