LIVE market updates: Benchmark indices look set to open higher ahead of the Reserve Bank of India’s monetary policy decision. At 8:15 AM, the SGX Nifty was at 17,326 compared with Nifty’s spot close of 17,177 on Tuesday.
That apart, positive news flow around market heavyweight Reliance Industries, along with firm global set-up may support the sentiment.
Primary market
Shriram Properties’ IPO will open for subscription today. The company plans to raise up to Rs 600 crore by way of public issue of equity shares in the price band of Rs 113 to Rs 118.
RateGainTravel Technologies IPO, meanwhile, got off to a slow start as the issue was subscribed only 41 per cent at the end of Day 1 of the issue on Tuesday. The retail portion was subscribed 2.23 times.
Global cues
The US stocks rallied for the second straight day on Tuesday as fears of Omicron continued to recede and investors bet on a Santa (December end) rally. Nasdaq zoomed 3 per cent led by frenzied buying in tech shares. The S&P 500 also surged 2 per cent and Dow Jones gained 1.4 per cent.
Meanwhile, Asian markets this morning were also supportive. The Nikkei and Kospi had jumped over a per cent each. Taiwan had added 0.8 per cent. Shanghai and Hang Seng were up 0.1 per cent each. Straits Times, however, was down 0.3 per cent.
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