Stock Market Today: SGX Nifty sheds 13 points; Asian markets off to weak start, tracking overnight fall in US stocks

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Sapphire Foods to make market debut today

KFC and Pizza Hut operator Sapphire Foods will make market debut on Thursday. The initial public offer was subscribed 6.62 times. The Rs 2,073-crore IPO received bids for 6,39,45,000 shares against 96,63,468 shares on offer, according to BSE data. The portion for Qualified Institutional Buyers (QIBs) was subscribed 7.50 times, while that of Retail Individual Investors (RIIs) 8.70 times and non institutional investors 3.46 times.

Paytm IPO listing today

Indian digital payments company Paytm is set to make its stock market debut on Thursday, after its $2.5 billion initial public offering (IPO), India’s largest, was oversubscribed last week. Paytm, which counts China’s Ant Group and SoftBank among its backers, raised $1.1 billion from institutional investors and last week received $2.64 billion worth of bids for the remaining shares on offer, or 1.89 times.

SGX Nifty signals a tepid start

Nifty futures on the Singapore Exchange traded 13 point, or 0.07 per cent, lower at 17,870.50, signaling that Dalal Street was headed for a tepid start on Thursday.

Tech View: Nifty charts signal more weakness

The minor positive pattern like higher highs and higher lows on the daily chart remain intact. But, the market is now close to the edge of negating this positive sequence, said analysts adding a move below 17,800 is likely to negate this pattern and could open more weakness.

Hong Kong shares open well down

Tokyo stocks opened lower on Thursday with investors disheartened by Wall Street falls on profit-taking and their focus shifting to the expected announcement this week of new stimulus in Japan. The benchmark Nikkei 225 index was down 0.29 percent or 85.12 points at 29,603.21 in early trade, while the broader Topix index lost 0.23 percent or 4.65 points to 2,033.69.

Japan stocks open lower after US falls

Tokyo stocks opened lower on Thursday with investors disheartened by Wall Street falls on profit-taking and their focus shifting to the expected announcement this week of new stimulus in Japan. The benchmark Nikkei 225 index was down 0.29 percent or 85.12 points at 29,603.21 in early trade, while the broader Topix index lost 0.23 percent or 4.65 points to 2,033.69.

Wall Street ends lower as retailers stoke inflation fears

Wall Street benchmarks ended Wednesday lower on inflation fears and supply chain concerns stemming from retailers’ earnings, with investors betting the Federal Reserve will raise interest rates sooner than expected to tame rising prices. The Dow Jones Industrial Average fell 211.17 points, or 0.58%, to 35,931.05, the S&P 500 lost 12.23 points, or 0.26%, to 4,688.67 and the Nasdaq Composite dropped 52.28 points, or 0.33%, to 15,921.57.

Rupee advances 9 paise to 74.28 as crude cools off

The rupee pared initial losses to settle 9 paise higher at 74.28 against the US dollar on Wednesday on lower crude oil prices. A strong dollar in overseas markets and losses in equity markets capped gains in the local currency. At the interbank forex market, the local unit opened on a weak note at 74.51 against the greenback. The unit rebounded from the lows later to settle at 74.28, higher by 9 paise over its previous close of 74.37.

Sensex, NIfty on Wednesday

Key stock indices declined by more than half a per cent for a second straight day on Wednesday due to profit booking in banking, oil and pharma stocks amid lingering worries over inflation. The 30-share index ended 314.04 points or 0.52 per cent lower at 60,008.33 as 20 of its components ended with losses. The broader Nifty of the National Stock Exchange declined by 100.55 points or 0.56 per cent to close at 17,898.65.

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