Radiant Cash Management Services is set to make its debut on the bourses on Wednesday. Trend in the grey market indicates that the stock could list at a marginal premium to the issue price of Rs 99. In the unofficial market, the stock was trading at a premium of Rs 7.
Domestic equities will continue to follow global markets for direction, but stock-specific action will be seen in the broader market, as companies release their provisional business updates for the December quarter. Positioning in the options of Nifty 50 suggests a narrow trading range of 18000-18300 for the Nifty 50.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
SGX Nifty signals a negative start Nifty futures on the Singapore Exchange traded 53.5 points, or 0.29 per cent, lower at 18,252.50, signaling that Dalal Street was headed for a negative start on Wednesday.
- Tech View: The Nifty formed a bullish candle on the daily charts on Tuesday. It has to continue to hold above 18181 level, for an upmove towards 18350 and then 18442 levels, whereas supports are placed at 18150 and 18081 levels.
- India VIX: The volatility gauge fell further on Tuesday amid the thin trade in markets. The index ended 2% down at 14.3850 points.
Asian stocks mixedShares in Asia were mixed Wednesday after a decline in US stocks and the price of oil signaled unease about the dimming outlook for the global economy. Treasuries, the dollar and the yen all stabilized after rallying Tuesday.
MSCI's broadest index of Asia-Pacif...