Domestic stocks are likely to open on a cautious note ahead of the outcome of the US Fed s two-day policy meeting, where the US central bank is likely to raise economic forecasts and repeat a pledge to remain accommodative for the foreseeable future.
Here s the breaking down the pre-market actions:
STATE OF THE MARKETS
Nifty futures on the Singapore Exchange traded 40.5 points, or 0.27 per cent, higher at 15,012.50 in signs that Dalal Street was headed for a positive start on Wednesday.
Tech View: Nifty support seen at 50-DMA
Nifty declined for the third straight session on Tuesday and formed a bearish candle on the daily chart. During the day, the index broke below its 20-day moving average. Analysts said the market is likely to see sideways action now, but any failure to stage a recovery from here on could potentially send the Nifty tumbling towards the 14,720 level, which is near Nifty s 50-day simple moving average.
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Laxmi Organic Industries Limited IPO to open on Monday, March 15, 2021
Posted On: 2021-03-09 08:59:47 (Time Zone: Arizona, USA)
Laxmi Organic Industries Limited ( Company or Laxmi Organic ), will open the Bid/Offer period in relation to its initial public offering of Equity Shares (the Offer / IPO ) on Monday, March 15, 2021 and close on Wednesday, March 17, 2021. The price band for the Offer has been decided at Rs. 129 - Rs. 130 per Equity Share. The Company may, in consultation with the book running lead managers (the BRLMs ), consider participation by anchor investors ( Anchor Investors ) which shall be one Working Day prior to the Bid/Offer Opening Date, i.e. Friday, March 12, 2021.