Asian markets were trading in the green during the early hours of trade. Hang Seng was up 1.70%, followed by Nikkei 225, TOPIX, and KOSPI.
(Image: REUTERS)Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity markets ended at record closing highs on Monday, getting the week started on the right foot. S&P BSE Sensex closed at 52,154 points while 50-stock NSE Nifty ended at 15,314, helped by banking stocks. On Tuesday morning, SGX Nifty was up 16 points, hinting at a flat to positive start for equities. Asian markets were trading in the green during the early hours of trade. Hang Seng was up 1.70%, followed by Nikkei 225, TOPIX, and KOSPI. KOSDAQ was down in the red. Wall Street and Chinese stock markets were closed for trading.
Today, Indian stock markets will witness the listing of the third Real Estate Investment Trust on the bourses. Brookfield India REIT, the Rs 3,800 crore public issue that closed with a 7.94 times subscription earlier this month will begin trading today. Analysts are expecting a premium listing of the REIT after units were sold at a price band of Rs 274-275 apiece. Prior to Brookfield India REIT, Embassy Office Parks REIT and Mindspace Business Parks REIT already trade on BSE and NSE. REITs, unlike shares, have a minimum lot size and purchases can only be made in multiples of that.
Highlights
In the unlisted space, Brookfield India REIT is not witnessing any strong movement. Sandip Ginodia, CEO, Abhishek Securities, told Financial Express Online that there were hardly any enquiries about Brookfield REIT in the grey market. Based on this, Ginodia expects marginal listing day gains.
SGX Nifty was trading marginally higher on Tuesday morning hinting at a flat opening for domestic equity markets.
Brookfield India’s Real Estate Investment Trust (REIT) will make its stock market debut on Tuesday, 15 February 2021. The REIT was subscribed 7.94 times by investors during the three-day bidding period earlier this month. Of this, qualified institutional buyers (QIB) bid for 4.78 times their portion while non-institutional investors (NII) had bid for 11.52 times their quota. Seeing the current market sentiment, analysts expect Brookfield India REIT to open at a premium to its issue price of Rs 274-275 per share. This will make it the third REIT to successfully list on Dalal Street, after Embassy Office Parks REIT and Mindspace Business Parks REIT.
Read full story