The outlook is a weak start as indices brace for the F&O expiry. Nifty rollovers are lower at 50 per cent as on Wednesday. Global cues remain subdued with Asian markets mostly in the red. US indices shed some weight. Economic news from China remains a cause for concern. Meanwhile, premium values of select Bank Nifty options have jumped almost 10 times in the last two days suggesting heightened uncertainty, says a report. The rupee is set to remain weak for most part of the day.
NTPC's tax-free bond sales saw overwhelming response perhaps indicating that interest rates could move southwards. The issue was oversubscribed more than 10 times on its opening on Wednesday, as it received Rs 4,417 crore subscription against Rs 400 crore. The issue is likely to close today.
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