Stock Market Live: The Indian market was trading lower on Thursday following losses in global markets after the policy-making committee of the US Federal Reserve indicated that the overnight interest rate could remain close to zero for years to reach its 2 percent inflation target. Losses in national indices were led by banking and IT stocks.
Oil holds steady as demand concerns revive, crews return to US Gulf rigs.
Oil prices mixed in early trading Thursday, clinging to overnight gains as concerns over weak fuel demand were back in frame after Hurricane Sally slammed into the Gulf of Mexico. toward the southeastern United States. US West Texas Intermediate (WTI) crude futures were flat at $ 40.16 a barrel at 0118 GMT, after rising 4.9 percent on Wednesday. Brent crude futures rose 5 cents, or 0.1 percent, to $ 42.27 a barrel, after rising 4.2 percent on Wednesday. Prices were mostly in negative territory in early trading after a larger-than-expected rise in stocks of U.S. distillates, which include diesel and heating oil, raised alarm over demand for fuel in the US. largest economy in the world.
CAMS IPO will open on September 21, the price band was set at Rs 1,229-1,230 / share
Computer Age Management Services (CAMS) plans to raise around Rs 1.5 billion from the general public through the initial public offering (IPO), which will open for subscription from September 21-23. The price band is set at Rs 1,229-1,230 per share. Like Chemcon Specialty Chemicals, the anchor investor tender will take place on September 18. The Chennai-based company seeks to raise Rs 2,240-2,242 crore from the market. The IPO consists of an offering to sell 1.82,46,600 equity shares of Great Terrain Investment, NSE Investments, Acsys Investments, HDFC and HDB Employees Welfare Trust, according to preliminary documents filed with Sebi. CAMS is the largest mutual fund registrar and transfer agent with an aggregate market share of approximately 70 percent based on average mutual fund assets under management. More here
Take a look at how markets are performing elsewhere.
Happier minds to list on exchanges today
IT services firm Happiest Minds Technologies, which concluded its initial public offering last week on a notable note, will make its debut on the stock market on Thursday. Happiest Minds Technologies IPO of Rs 702 crore, promoted by Ashok Soota, garnered a massive response from investors as it was subscribed a whopping 151 times. The offering price band, which was closed for subscription last Wednesday, was set at Rs 165-166 per share.
