MARKET LIVE: SGX Nifty up 60 points; India Pesticides IPO opens today

Investors will, on Wednesday, largely track the global markets for direction, although the volatility witnessed in the recent sessions may continue, especially ahead of the monthly expiry of futures options (F&O) contracts tomorrow.

Besides, stock-specific developments corporate results may trigger moves in individual stocks.

Results today

A total of 64 companies, including Apollo Hospitals Enterprise, Mcleod Russel India, Allcargo Logistics, HCC are scheduled to release their quarterly earnings today.

The action in the primary market continues with India Pesticides’ Rs 800 crore initial public offer (IPO) opening for subscription on Wednesday. The IPO is priced in the range of Rs 290-296 per share. Analysts have largely assigned ‘Subscribe’ rating to the issue on the back of positive growth prospects, strong financials, reasonable valuations. READ MORE

Global cues

Powell’s remarks helped Wall Street rebound on Tuesday, with the Nasdaq closing at another record high. Overall, the Dow rose 0.2 per cent, the S&P 500 gained 0.51 per cent, the Nasdaq Composite added 0.79 per cent.

Most Asian indices tracked the gains in Wall Street were trading higher in Wednesday’s early deals. Hong Kong’s Hang Seng rose 0.8 per cent, while Japan’s Nikkei Korea’s Kospi were up 0.2 per cent, each.

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