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The market action may remain subdued as investors await the November jobs report in the US due later today.
Meanwhile, oil prices will also be monitored amid reports that the European Commission has asked the bloc’s 27 member states to approve a price cap of $60 a barrel on Russian oil in an attempt to squeeze Russia’s revenues.
Primary market
The IPO of Uniparts India was subscribed 2 times on the second day of subscription on Thursday. The category for non-institutional investors was subscribed 3.41 times, the portion for retail investors got 2 times subscription and that of qualified institutional buyers (QIBs) attracted 97 per cent subscription.
In the secondary market, PB Fintech will be in focus as Softbank is said to sell 22.8 million shares (5 per cent stake) in the company via a block deal today.
Global cues
Overnight in the US, the Dow slid 0.56 per cent. The S&P 500 closed down 0.09 per cent lower, while the Nasdaq gained 0.13 per cent.
In Asia this morning, most indices declined even as China signaled to ease some Covid-19 restrictions. Nikkei was down 1.7 per cent, Strait times and Kospi fell up to 0.7 per cent. Hang Seng was flat.
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