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Market Ahead Podcast, Nov 10: Top factors that could guide markets today

Domestic equities may continue to trade sideways in today's trading session as lack of major domestic and global triggers may keep investors on the sidelines

Market Ahead

BS Web Team  |  Kolkata 

Domestic equities may continue to trade sideways in today’s trading session as lack of major domestic and global triggers may keep investors on the sidelines.

Around 270 mid, and small-cap companies are set to report their September quarter earnings today including Zomato, Krishna Institute of Medical Sciences, Oil India, and Nuvoco Vistas.

In the primary market, Latent View Analytics will open its three-day initial share sale today.

The company has fixed a price band of Rs 190 - Rs197 per share and is looking to raise Rs 600-crore at the upper end of the price band.

Further, the IPO comprises fresh issue of equity shares worth Rs 474 crore and an offer-for-sale of equity shares worth Rs 126 crore by the promoter and existing shareholders.

Most analysts suggest subscribing to the issue given the vast cross-selling opportunities, strong inorganic growth outlook, attractive valuations, and robust financial position.

Meanwhile, the 3-day public offer of Sapphire Foods, the owner of Pizza Hut and KFC chain of stores, will enter its second day today. So far, the issue has been subscribed nearly 50 per cent.

Also, today is the last day to apply for India’s biggest IPO offered by Paytm. The issue, too, has reached the half-way mark by the end of day 2.

Shares of Nykaa will also debut on the bourses today, a day ahead of the previously scheduled listing. The counter is commanding a strong grey market premium, suggesting a solid listing pop.

On the global front, investors will eye October inflation data for China and the US, slated to be announced later today.

That apart, foreign fund flow, oil price movement, and the rupee’s trajectory will also sway the indices.

On Tuesday, the BSE Sensex ended 112 points lower at 60,433 while the NSE Nifty settled with a marginal loss of 25 points at 18,044.

The broader indices, however, finished in the positive zone. The BSE Midcap index advanced 0.8 per cent to 26,520, and the Smallcap index added 0.7 per cent to 29,321.

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First Published: Wed, November 10 2021. 07:45 IST