Share Market Live: SGX Nifty Hints At Gains; Bharti Airtel, Siemens, UPL, Vedanta In Focus

Star Health and Allied Insurance Co. will raise up to Rs 7,500 crore in its three-day initial public offering that will open on Nov. 30 and close on Dec. 2, according to terms of the deal obtained by Bloomberg.

The offer comprises of a fresh issue of Rs 2,000 crore and Rs 5,500 crore-worth existing shares being sold.

The price band as been set at Rs 870-900.

Asian stocks were steady on Wednesday and Treasury yields held a climb as traders weighed the prospect of tighter monetary policy to curb inflation.

Shares fell in Japan and fluctuated in South Korea and Australia. U.S. futures wavered after energy and financials helped the S&P 500 eke out a gain, while the Nasdaq 100 extended a drop.

India’s SGX Nifty 50 Index futures for November delivery rose 0.3% to 17,555.50, while MSCI Asia Pacific Index shed 0.5%. The NSE Nifty 50 Index gained 0.5% on Tuesday to 17,503.35.

The Treasury yield curve steepened overnight and the dollar ticked higher. Bond market inflation expectations have retreated from mid-November highs on bets the Federal Reserve will speed up the withdrawal of monetary stimulus.

Curbing inflation is now center-stage for policy makers, building up a test for markets as ultra-loose, pandemic-era monetary stimulus is scaled back. A deluge of U.S. data and the latest Fed minutes, all due Wednesday, will give investors a read on price pressures and the economic recovery.

Elsewhere, oil pared a rally sparked by a smaller-than-expected move from consumer nations to tap strategic reserves. Gold is being pressured by higher yields.

Back home, Siemens is scheduled to report Q4 earnings on Wednesday. Foreign investors sold net Rs 2,110 crore of stocks on Monday, according to NSDL website.