Nifty Expected to Open Up; Four IPOs to Hit Markets

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Nifty Expected to Open Up; Four IPOs to Hit Markets
Credit: © Reuters.

By Aditya Raghunath -- Early cues indicate that Nifty 50 and the BSE Sensex 30 are expected to open up today. Nifty 50 Futures in Singapore are trading up 0.56% as of this report which indicates a gap-up opening for the markets.

Four IPOs are scheduled to open for subscription today: Devyani International, Krsnaa Diagnostics, Windlas Biotech and Exxaro Tiles.

Devyani International, the largest franchisee of Yum Brands, is one of the biggest QSR (quick service operators) in the country running brands like KFC and Pizza Hut. The company is the largest IPO out of the four, and is looking to raise Rs 1,838 crore from the markets.

Technical indicators for the markets indicate a bullish pattern and it is likely that Nifty could test 16,300 levels in the near term.

Foreign institutional investors finally turned net buyers of Indian equities for the first time since July 13, and bought shares worth Rs 2,116.6 crore yesterday.

Asian markets have opened mixed today. Nikkei 225 is down 0.14% while KOSPI 50 is up 0.96% and the Shanghai Composite is up 0.26% after opening in the red.

US futures are all trading in the red. Dow Jones 30 Futures and Nasdaq 100 Futures are down less than 0.1% each while S&P 500 Futures are down 0.1%

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  • Senthil Raju @Senthil Raju
    banknify gap down possible near expiry
    Like 0

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