Domestic equity market benchmarks are likely to open flat with a positive bias on Thursday, as suggested by trends in SGX Nifty.
According to the analysts, Indian share market is overvalued from the short- term perspective while at high levels, it is vulnerable to a correction.
Domestic equity market benchmarks are likely to open flat with a positive bias on Thursday, as suggested by trends in SGX Nifty. Nifty futures were seen trading 28 points up at 13,646.50 on Singaporean Exchange. In the previous session, S&P BSE Sensex jumped 437 points to close at 46,444 while the 50-stock NSE Nifty gained and breached the 13,600 levels. According to an analyst, the market is likely to be highly volatile till the concerns over new covid strain subside and the Christmas vacation gets over. “The monthly F&O expiry next week would further add to the volatility. Investors would track the Brexit deal for further cues which is expected to be finalized soon. The long term market structure remains positive,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
Mrs Bectors Food Specialities: Mrs Bectors is scheduled to make its stock market debut today with listing on both BSE and NSE. The Rs 540-crore IPO was subscribed a massive 197.36 times and became the most subscribed IPO of 2020.
Antony Waste: The Rs 300-crore Antony Waste Handling Cell initial public offer (IPO) was subscribed 15.04 times on the final day of the three-day bidding process. According to o the data available on the exchanges, investors had put in bids for 10.02 crore equity shares against offer size of 66.66 lakh equity shares.
RIL: Despite the coronavirus pandemic and the resultant ravaging of the global economy, the Deal Street managed to grow 7 per cent in 2020 over 2019 to about USD 80 billion across 1,268 transactions, thanks to a string of big-ticket deals by Reliance, according to a report. More than a third of the total deal came through Reliance — into Jio Platforms and Reliance Retail, PTI cited data collated by PwC India.
Bharti Airtel, Vodafone Idea: For the third month in a row, Bharti Airtel has added the maximum number of wireless subscribers at 3.67 million in October, followed by Reliance Jio which added 2.23 million customers. Vodafone Idea continues to lose customers with a decline of 2.65 million subscribers.
HDFC:Housing Development Finance Corporation on Wednesday signed a pact with the Indian Green Building Council (IGBC), said its green housing retail loan book has crossed the Rs 14,000-crore-mark across 310 certified green buildings.
DHFL: The committee of creditors (CoC) of Dewan Housing Finance Corporation (DHFL) will meet on Thursday to discuss bids submitted in the fourth round of bidding. The agenda of the meeting includes evaluation of the resolution plans, discussion on distribution mechanism, among others.