A rise in futures open interest indicates an increase in the number of active, unexpired futures contracts in a security.
The strong grey market sentiment comes on the back of overwhelming investor demand for the public issue. The IPO was subscribed 90.59 times overall, with the retail portion booked 20.51 times. The non-institutional investor (NII) category saw subscription of 87.74 times, while the qualified institutional buyer (QIB) portion was subscribed a staggering 215.37 times.
The Rs 550 crore public issue was priced at Rs 676 per share. The offering comprised a fresh issue of 11.83 lakh shares worth Rs 80 crore and an offer for sale (OFS) of 62.13 lakh shares aggregating to Rs 420 crore.
Glass Wall Systems is set to debut on the NSE and BSE on September 16, with its shares commanding a 23% grey market premium over the IPO price. The Rs 427.89 crore issue was subscribed 81.65 times overall.
Four Nifty 500 stocks closed more than 2.5% below their respective VWAPs on September 15, according to StockEdge’s technical scan data, indicating that their closing prices were below their volume-weighted average traded prices.
With smallcaps also trading at significantly higher valuations than in previous cycles, the key question for investors is whether the current gains are backed by sustainable business prospects—or simply momentum feeding on momentum.
MSCI’s Asian equities index advanced 0.1%. Contracts for Wall Street gauges also nudged up in early trading as OpenAI weighed a new funding round at a $1.2 trillion valuation. The S&P 500 and Nasdaq 100 slipped Tuesday, while a gauge of chipmakers eked out an increase.
Sebi proposes reducing mandatory disaster recovery drills for market infrastructure institutions. These drills will now require at least four hours on a non-working day. The regulator also plans to strengthen operational resilience through comprehensive stress testing. MIIs must regularly test fault tolerance and proactively monitor system limits. Public comments on these proposals are due by October 5.
Indian equity markets closed lower on Tuesday, extending their monthly decline. Nifty50 reached a key support level, indicating a potential technical bounce. Several companies, including Yes Bank and Vedanta, are expected to be in focus. Bharat Forge and BHEL announced significant collaborations and joint ventures. Other firms reported regulatory updates and investment plans for future growth.
US stocks fell as rising oil prices and Treasury yields added pressure to markets ahead of the Federal Reserve’s expected rate hike. Brent crude climbed to $109.35 a barrel, while the 10-year Treasury yield crossed 5%, raising concerns over inflation, borrowing costs and stretched stock valuations.
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