MARKET LIVE: Positive start likely for Sensex, Nifty on firm global cues

are likely to start Friday’s session with minor gains as global cues remained positive overnight. At 7:45 am, the SGX

futures were quoting 17,312 levels, up 50-odd points from their previous close. 

Investors will continue to track the geo-political developments and the rise in Covid-19 cases in India and overseas. 

Some big corporate earnings are also slated to be announced today, including that of Maruti Suzuki, Wipro, IndusInd Bank and Ultratech Cement. 

Among individual stocks, the Street will react to the likes of Axis Bank, Vedanta, Biocon, and Ambuja Cements, among others that announced their Q4 numbers after market hours on Thursday.

In the primary market, Rainbow Children’s Medicare IPO continued to receive slow response and was subscribed 55 per cent at the end of day 2 of the subscription period.

Meanwhile, Campus Activewear IPO was subscribed 51.75 times on the final day, with institutional portion subscribed 152 times, wealthy investors and retail categories being subscribed 22.3 times and up to 7.7 times, respectively. 

Global cues

Overnight, the US rallied strongly after robust earnings from Meta Platforms (Facebook parent) lifted beaten down tech shares. Dow Jones jumped 1.9 per cent, the S&P 500 surged 2.5 per cent and Nasdaq soared 3.1 per cent.

In Asia this morning, Straits Times and Taiwan were up over a per cent each, while Kospi gained 0.8 per cent. China’s Shanghai Composite was up 0.3 per cent.

Meanwhile, oil prices bounced back as Russia continued its onslaught on Ukraine. futures rose 2.2 per cent to $107.59 a barrel, and WTI oil was up 3.3 per cent at $105.36 a barrel.

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