MARKETS: Nifty may start above 17,000; Rate Gain IPO to open today

LIVE market updates: Indian equities may stage some recovery from Monday’s sell-off and open higher on Tuesday. At 8:07 AM, SGX Nifty was at 17,053 compared with Nifty’s spot close of 16,912 yesterday.

Supportive global cues and stock-specific action will guide the today.

Stocks across Asia-Pacific jumped on Tuesday, bouncing back from Monday losses as Wall Street rallied on optimism that the omicron variant risk might not be as bad as feared.

Hong Kong’s Hang Seng was up 1.29 per cent, Shanghai composite added 0.38 per cent, and Australia’s ASX200 rose 0.6 per cent. Further, Japan’s Nikkei 225 jumped 1.39 per cent, while the Topix was up 1.21 per cent. South Korea’s Kospi edged up 0.11 per cent. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.64 per cent.

Overnight, the Dow Jones Industrial Average soared 1.87 per cent. The Nasdaq Composite climbed out of negative territory and ended 0.9 per cent higher. The S&P 500 rose 1.1 per cent.

Primary market

RateGain Travel Technologies Ltd is open its three-day initial public offer today. The company has fixed a price band of Rs 405-425 per share and hopes to garner close to Rs 1,336 crore at the upper price band of the offer.

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