Global Markets Turn Cautious, IPO News & Cues to Watch Out Today

Wed, 30 Aug Pre-Open

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On Monday, the share markets in India finished in red, breaking a four day positive streak.

The BSE Sensex closed lower by 363 points to end at 31,388 while the broader NSE Nifty ended the day lower by 117 points to close at 9,796.

Among BSE sectoral indices, power stocks fell the most by 1.6%, followed by consumer durables stocks stocks 1.5%. NTPC and Sun Pharma were among the top losers.

Top Stocks in Action Today

HYPERLINK "https://www.equitymaster.com/share-price/NTPC/NTPC-532555/NTPC-Share-Price"

NTPC is set to be in focus today as the government opens its offer for sale (OFS) for retail investors today. The government is selling over 412 million shares or 5% of its stake in state-run power producer NTPC, with an option to retain oversubscription of similar amount. At the floor price of Rs 168 apiece, sale of 5% stake would fetch around Rs 70 billion to the exchequer.

Infosys share price is likely to be in focus today as the company's co-founder N.R. Narayana Murthy on Tuesday backed newly appointed chairman Nandan Nilekani to fix corporate governance lapses and also hailed last week's overhaul of the board that resulted in the exit of four members, including previous chairman R. Seshasayee. Last week, Infosys had named co-founder Nilekani non-executive chairman to help the company get back on track.

IPO Buzz

As per an article in Livemint, At least four companies are planning to go public to collectively raise upwards of Rs 20 billion in the month of September.

Reportedly, the companies that have firmed up initial share sale plans for the next month include online matchmaking company Matrimony.com Ltd, road developer Bharat Road Network Ltd (BRNL), electronics maker Dixon Technologies (India) Ltd and real estate services provider Capacit'e Infraprojects Ltd.

With so many new IPOs set to hit the market, it is prudent to be ready with a strategy to take advantage of the frenzy.

It's good to be very selective when investing in IPOs. Carefully analyse each company for its own merits and don't give in to the hype surrounding the public offering.

That's Ankit Shah's approach at Equitymaster Insider. He keeps a sharp eye on developments in the IPO space and keeps his readers up to date on the big-ticket IPOs.

Ankit and his team of researchers constantly reference this handbook on investing in IPOs. You can download a copy for yourself. It's free. Just click here.

Oil prices Continue Slide

Oil prices declined for a second session extending losses from the previous session to trade at their lowest levels in more than a month, as refinery outages in the wake of Hurricane Harvey continued to spark fears of diminished demand for U.S. oil. Flooding from Tropical Storm Harvey inundated refining centers along the Texas coast, shutting more than 10% of U.S. fuel-making capacity.

Global Markets Cautious After North Korea Missile Launch

Global equity prices slipped and investors flocked to safe-haven assets on Tuesday after North Korea fired a missile over northern Japan, fueling fresh tension between Washington and Pyongyang. The dollar fell to its lowest in more than 2.5 years against a basket of major currencies, benchmark 10-year Treasury yields fell and gold hit a more-than-nine-month peak. Stock markets across Asia lost ground, although the declines weren't as sharp as during previous North Korean provocations.

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