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Stock market live updates: The markets are headed for a likely subdued start on Wednesday amid concerns of a global economic slowdown that has dented investor confidence.
The benchmark Sensex and Nifty indices may open lower as hinted by the SGX Nifty futures, which were quoting 16,180 levels at 7:40 am, lower by 70-odd points.
In the primary market, logistics services giant Delhivery’s Rs 5,235 crore IPO, the largest in 2022 after LIC, will open for subscription today. The company has raised Rs 2,347 crore from investors including FPIs such as Tiger Global, Steadview, Fidelity, and GIC, among others.
Stainless steel pipes and tubes manufacturer Venus Pipes & Tubes’ IPO will also open for subscription today and close on Friday. It has raised Rs 49.62 crore from three anchor investors.
Among other stocks, SBI will be in focus as its board has approved long-term fundraising of $2 billion in single or multiple tranches for refinancing maturing liabilities and fresh lending in the current fiscal year.
Others that will be in focus ahead of their Q4 results today include Adani Ports, PNB, Butterfly Gandhimathi and Kalyan Jewellers. Read here
Global cues
In the US, sentiment improved but it was short-lived. The Dow dipped 0.26 per cent, the S&P 500 inched 0.25 per cent higher, and the Nasdaq gained 0.98 per cent.
Asian markets also exhibited volatility this morning. Hang Seng fell 0.15 per cent and Nikkei was flat. Strait Times and Kospi were down up to 0.5 per cent. Shanghai composite was flat, and Shenzhen component gained up to a per cent.
Brent crude and WTI crude rose over 1 per cent each to $103 and $101 a barrel.
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