INDIA STOCKS — Indian shares set to inch higher as oil eases; IPO rush to cap upside
Sept 18 (Reuters) — Indian shares are likely to open marginally higher on Friday, aided by a pullback in crude oil prices, although persistent geopolitical risks in the Middle East and heavy demand for domestic initial public offerings may cap upside. India's Tata group stocks will also be in focus after Tata Sons reappointed N. Chandrasekaran as chairman and said it would consider a public listing, while shareholder Shapoorji Pallonji Group has proposed selling part of its stake. GIFT Nifty futures were trading around 23,329.5 points, as of 8:30 a.m. IST, indicating a positive start for the benchmark Nifty 50 index, which closed at 23,270.60 on Thursday. Brent crude was down 0.8% at $104 a barrel as hopes that alternative routes could keep Middle Eastern barrels flowing to global markets outweighed concerns over renewed strikes involving Saudi Arabia and Yemen's Houthi forces. O/R Still, Brent remained elevated above $100 a barrel, fuelling inflation concerns for major oil importers such as India. Higher energy costs could weigh on corporate margins, worsen the current-account outlook and complicate the Reserve Bank of India's inflation management. Five Indian IPOs are currently o
Sept 18 (Reuters) — Indian shares are likely to open marginally higher on Friday, aided by a pullback in crude oil prices, although persistent geopolitical risks in the Middle East and heavy demand for domestic initial public offerings may cap upside. India's Tata group stocks will also be in focus after Tata Sons reappointed N. Chandrasekaran as chairman and said it would consider a public listing, while shareholder Shapoorji Pallonji Group has proposed selling part of its stake. m.
60 on Thursday. 8% at $104 a barrel as hopes that alternative routes could keep Middle Eastern barrels flowing to global markets outweighed concerns over renewed strikes involving Saudi Arabia and Yemen's Houthi forces. O/R Still, Brent remained elevated above $100 a barrel, fuelling inflation concerns for major oil importers such as India. Higher energy costs could weigh on corporate margins, worsen the current-account outlook and complicate the Reserve Bank of India's inflation management.
43 times on the first day of bidding. Traders said the rush of new offerings could divert liquidity away from secondary-market stocks and keep broader market gains contained. 6%, respectively, so far this week, on course for a sixth consecutive weekly decline. 09 billion rupees on Thursday.
18 billion rupees, according to provisional NSE data. com; +91 9769003463;)