MARKET LIVE: Indices set to start firm; Brookfield REIT IPO to open today

: Tracking the firm mood in global markets, Indian indices look set to extend the Budget-fuelled rally to the third day. At 7:30 AM, the

was trading 48 points up at 14,785.

However, prices at 12-month high don’t bode well for Indian and could cap gains.  That apart, investors will today track corporate results, the Services PMI data, and the Union cabinet meeting.

Earnings alert

A total of 88 companies, including Bharti Airtel, Adani Enterprises, Jubilant FoodWorks, and VIP Industries are slated to announce their quarterly earnings today.

Analysts expect to return to profit while revenues may grow in mid-teens on a year-on-year (YoY) basis, mainly on account of strong subscriber addition momentum. Besides, the company’s board will also consider financing strategies and fundraising plans via instruments like debentures, bonds, and loans. READ MORE

New listing

The shares of will make their market debut today. The company’s Rs 1,154-crore initial public offering, which ran from January 21 to 25, was subscribed 27 times. 

Global investment firm Brookfield’s Real Estate Investment Trust (REIT) public issue will hit the capital market on Wednesday at a price band of Rs 274 to Rs 275 to raise up to Rs 3,800 crore. The public issue will close on February 5.

rallied on Tuesday on renewed hopes for US President Joe Biden’ proposed $1.9 trillion Covid-19 aid bill as the Senate voted to start a process that would allow Democrats to pass Biden’s package without Republican support. The Dow Jones rose 1.57 per cent, the S&P 500 gained 1.39 per cent and the Nasdaq added 1.56 per cent.
Asian moved higher during Wednesday’s early trading. Japan’s Nikkei rose 0.6 per cent in early trade and Australian S&P/ASX 200 index added 1.15 per cent. Meanwhile, Hong Kong’s Hang Seng lost half a per cent.

(With inputs from Reuters)

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