RIYADH: Indian shares edged higher on Wednesday — led by the consumer goods and banking sectors — while losses in tech stocks kept gains in check as traders looked ahead to US inflation data for clues on the pace of rate hikes from the Federal Reserve.
The NSE Nifty 50 index was up 0.07 percent at 17,538.10, as of 0357 GMT, and the S&P BSE Sensex rose 0.09 percent to 58,904.24, having hit a near four-month high in the previous trading session. Indian markets were closed on Tuesday for a holiday.
Nifty’s private bank index was up 0.38 percent and the fast-moving consumer goods index advanced 0.34 percent.
India’s Bajaj Housing Finance to issue 3-year bonds
India’s Bajaj Housing Finance Ltd. plans to raise at least 100 million rupees ($1.26 million) through a sale of bonds maturing in three years, three merchant bankers said on Wednesday.
The housing finance company has invited bids from bankers and investors for the same on Thursday, they said.
The notes are rated AAA by CRISIL and the issue will close for subscription on Friday.
The issue has a greenshoe option to retain an additional 9.90 billion rupees and will mature on Aug. 12, 2025.
DLF Cyber City to issue 2-year bonds
India’s DLF Cyber City Developers Ltd. plans to raise 5 billion rupees ($62.86 million) through the sale of bonds maturing in two years, three merchant bankers said on Wednesday.
The real-estate company will pay a coupon of 7.80 percent on this issue and has invited commitment bids from bankers and investors for the same on Thursday, they said.
The notes are rated ‘AA’ by CRISIL and the issue has a call option at the end of one year and nine months.
The issue will close for subscription on Friday and will mature on Aug. 12, 2024.
(With input from Reuters)