MARKETS: Muted start likely; RBL Bank, HP Adhesives listing in focus

LIVE market updates: With no clear global market cues and rising worries over Omicron, the benchmark indices are likely to open tepidly on Monday. Investor sentiment may remain weak as several states such as Delhi, Karnataka, Maharashtra enforce new restrictions in view of rising Covid-19 cases. Financial stocks are likely to be in limelight, after the RBI accepted the recommendation of an internal working group (IWG) to allow non-promoters to hold up to 15 per cent in private sector banks.

New listing

HP Adhesives is set to make its market debut today. The Grey Market Premium indicates a listing gain in the range of 20-25 per cent for the stock. In the primary market, Travel services provider TBO Tek Ltd has filed preliminary prospectus with capital markets regulator Sebi to raise Rs 2,100 crore through an initial public offering.

The public issue comprises fresh issue of equity shares of up to Rs 900 crore and an offer for sale worth up to Rs 1,200 crore by promoters and existing investors.

Global cues

Cues from the Asian markets were mixed this morning. China’s Shanghai Composite and Taiwan were up 0.2 per cent and 0.3 per cent, respectively, while Nikkei and Kospi were down 0.2 per cent each. The Straits Times was flat.

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