Nykaa makes market debut on November 10
Banker-turned-businesswoman Falguni Nayar-promoted FSN E-Commerce Ventures is expected to see a bumper listing of 50-70 percent over the final issue price of Rs 1,125 given the stellar initial public offering (IPO) subscription, growth plans of the company, a strong and profitable business model, and healthy market share in the beauty and personal care segment, experts feel.
The Nykaa and Nykaa Fashion chain operator closed its public issue on November 1, with great subscription numbers of 81.78 times. The offer received bids for 216.59 crore equity shares against the IPO size of 2.64 crore equity shares with support from all investor classes.
Oil climbs on surprise U.S. crude stocks decline
Oil prices rose on Wednesday, extending strong gains in the previous session, after industry data showed U.S. crude stocks unexpectedly fell last week just as near term travel demand picked up with pandemic curbs easing.
U.S. West Texas Intermediate (WTI) crude futures rose 23 cents, or 0.3%, to $84.38 a barrel at 0132 GMT, adding to a 2.7% gain on Tuesday.
Brent crude futures jumped 36 cents, or 0.4%, to $85.14 a barrel, after rising 1.6% on Tuesday.
Dollar Updates:
The dollar held a three-day loss against major peers and traded near a one-month low to the yen on Wednesday, with highly anticipated U.S. inflation data looming that could guide the timing of a Federal Reserve interest rate increase.
China will also release readings on consumer and producer prices on Wednesday, which could sway the direction of policy there as property sector woes threaten the broader economy.
The dollar index, which measures the greenback against six rivals, was little changed at 93.970 after retreating gradually from a more than one-year peak at 94.634 reached Friday.
The currency was steady at 112.915 yen after dipping to 112.73 on Tuesday for the first time since Oct. 11.
Asian Markets trade lower
Wall Street ends lower:
Wall Street closed lower on Tuesday, ending a multi-day rally of consecutive record closing highs as profit-taking and worries over ongoing inflation fueled a broad sell-off.
The Dow Jones Industrial Average fell 112.24 points, or 0.31%, to 36,319.98, the S&P 500 lost 16.45 points, or 0.35%, to 4,685.25 and the Nasdaq Composite dropped 95.81 points, or 0.6%, to 15,886.54.
PharmEasy parent API Holdings files DRHP for IPO
API Holdings, the parent company of pharmacy platform PharmEasy, has filed draft red herring prospectus (DRHP) for an IPO with the SEBI.
The company seeks to raise Rs 6,250 crore via fresh equity issuance.
API Holdings is also exploring the option of a pre-IPO fundraise via private placement to the tune of Rs 1,250 crore. If Pre-IPO round is done, it will reduce the amount from the IPO issue size. Click to Read More
SGX Nifty: Trends on SGX Nifty indicate a negative start for the broader index in India, with a gain of 107 points or 0.59 percent. The Nifty futures were trading around 17,973 level on the Singaporean Exchange at 7:30 IST.
Market on Tuesday:
After two days of gains, the market saw profit-booking on November 9 with both benchmark indices closing with losses on dull global cues.
The Sensex was down 112.16 points, or 0.19 percent, at 60,433.45 and the Nifty ended 24.20 points, or 0.13 percent, down at 18,044.30.
After a quiet start, the market witnessed volatility but narrowed losses in the final hour of trading supported by auto, oil & gas and capital goods stocks.
The BSE midcap index was up 0.8 percent and smallcap index rose 0.67 percent.
M&M, Tata Motors, Hero MotoCorp, ONGC and SBI were among the major Nifty gainers. Losers included Britannia Industries, HDFC Bank, Maruti Suzuki, JSW Steel and Power Grid.
Among sectors, the Nifty Auto index rose a percent, while selling was seen in metal and banking names.
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