In overnight trade on Wall Street, US stock indices ended lower. The Dow Jones Industrial Average fell 0.23 per centShare Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 are likely to open in the positive territory on Friday, as suggested by trends on SGX Nifty in early trade. Nifty futures were trading 33 points up at 13,558 on Singaporean Exchange. Asian stock markets were seen trading mixed in today’s session. South Korea’s Kospi index rose 1.21 per cent. In Japan, the Nikkei 225 declined 0.51 per cent while the Topix index traded marginally lower. In overnight trade on Wall Street, US stock indices ended lower. The Dow Jones Industrial Average fell 0.23 per cent, the S&P 500 lost 0.13 per cent. While the Nasdaq Composite added 0.54 per cent.
The offer-for-sale for the Indian Railway Catering and Tourism Corp (IRCTC) got a good response from non-retail investors as the issue was subscribed nearly two times on day one. Retail investors will get chance to bid for IRCTC offer-for-sale (OFS) on Friday, the last day for the issue, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said.
Highlights
The chart indicates a reversal formation in the Nifty 50 index that has been formed after hitting the lows of 13400. However, if the Nifty 50 index has to scale new highs it needs to sustain a move above 13530 levels. Meanwhile on an immediate basis, 13600 and 13660 would be barriers for the index. A break of 13380 would be negative for the market, which could see the Nifty 50 index revisit the 13250 levels. For the market to scale higher, Bank Nifty need to move above the 31000 levels and move beyond to 32613 levels, which is also its all-time high: Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities
Nifty futures were trading 15 points up at 13,534 on Singaporean Exchange, indicating a gap-up start for BSE Sensex and Nifty 50 on Friday. In the previous session, the markets took a pause as investors decided to book profits. The Nifty declined 50.8 points or 0.38 per cent to close at 13,478.3 while the Sensex declined by 143.62 points or 0.31 per cent to close at 45,959.88.
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The market’s rally is not just restricted to the benchmark indices. The Nifty Midcap 100 index is just 6.5% away from the all-time highs (21,731) that it witnessed in January 2018. The rally in the Nifty Midcap 100 stocks is mainly on the back of increased liquidity and retail participation in the market. In this backdrop, experts say that the Nifty Midcap 100 index could touch its all-time high by January 2021.
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Muthoot Finance on Thursday announced its plans to raise Rs 1,000 crore for lending activities by issuing secured redeemable non-convertible debentures (NCDs). The issue is with a base issue size of Rs 100 crore with an option to retain over-subscription of up to Rs 900 crore, aggregating the tranche limit of Rs 1,000 crore, the company said.
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Offer for Sale of Govt shares in IRCTC got great response on day one. Issue subscribed 1.98 times of base size at a clearing price above the floor price by non-retail investors. Govt has decided to exercise the green shoe option. Retail investors get chance to bid tomorrow, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said.
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