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MARKET LIVE: Indices to hit record highs at open; Bajaj Auto, RIL in focus

Stock market LIVE updates: A third IPO for this week by Home First Finance would open for subscription today

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MARKET LIVE | Markets | Reliance Industries

SI Reporter  | New Delhi 

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EVENT HIGHLIGHTS

MARKET LIVE:Sensex,Nifty,markets today,RIL,Axis Bank,sbi card,bajaj auto
Stock market LIVE updates: The market bulls will make a dash for the 50,000 mark on Sensex, and in the backdrop of strong cues from global peers and solid Q3 earnings numbers so far, the feat seems achievable. SGX Nifty was trading over 60 points higher at 14,706 around 7.10 am, indicating a firm start for benchmark indices. However, volatility is expected to be high ahead of the weekly F&O expiry.

Asian Paints, Bajaj Auto, MCX India, SBI Cards and Payment Services, Bandhan Bank and Biocon are among 57 firms set to post their December quarter numbers today.

IPO update

A third IPO for this week by Home First Finance would open for subscription today. The firm on Wednesday raised a little over Rs 346 crore from anchor investors. The company has fixed a price band of Rs 517-518 a share for its initial share-sale.

That apart, IPO by IRFC closed on Wednesday and garnered 3.49 times subscription while Indigo Paints was subscribed 1.90 times on Day 1 of the issue.

Global cues

In overnight session, US stocks closed at record highs as investors grew optimistic that recent federal spending will revive growth and bolster corporate earnings. Meanwhile, Joe Biden was sworn in as the 46th president of the United States.

The Dow Jones Industrial Average rose 0.83%, the S&P 500 gained 1.39% and the Nasdaq Composite added 1.97%.

Tracking gains in US peers, Asian stocks rose for the third straight session. Japan’s Topix index climbed 1%, South Korea’s Kospi added 0.9% and Australia’s S&P/ASX 200 Index rose 0.8%.

(With inputs from Reuters)

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