Domestic equity market benchmarks BSE Sensex and Nifty 50 seem set to open in the positive territory after a gap of one day. Nifty futures were trading 151 points or 1.04% higher at 14,659 on Singaporean Exchange in early trade.
In the overnight session on Wall Street, major US stock indices ended sharply higher. The Dow Jones Industrial Average rose 434 points, the S&P 500 gained 50 points, and the Nasdaq Composite added 93 points.
Markets will also react to IIP, CPI data along with corporate results apart from these global cues.
PowerGrid Infrastructure Investment Trust (InvIT) IPO shares are scheduled to be listed on exchanges today. The company finalised the IPO share allotment earlier this week. The public issue was subscribed 4.83 times on the last day of the subscription. The Rs 7,735-crore issue received bids for 205 crore units against 42 crore units on offer. This is the first Infrastructure Investment Trust (InvIT) in the country to be floated by a public sector company.
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Recommendations by: Milan Vaishnav, Gemstone Equity Research and Advisory