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Warburg Pincus, through its affiliate Cloverdell Investment, is likely to sell 1.3% stake in the private sector lender, and the floor price for the same has been set at Rs 85.7 a share. The floor price is at a discount of up to 5.2% to the current market price.

The Dow Jones Industrial Average rose 59.17 points, or 0.16% at the open, to 36,183.73.

Shares of Adani Ports rallied over 23% in the last five days after the group received a shot in the arm on a Bloomberg report that quoted unnamed officials in the US International Development Finance Corporation (DFC) as saying that the allegations by Hindenburg Research were not relevant.

Data on Tuesday showed U.S. job openings fell to a more than 2-1/2-year low in October, signalling that aggressive rate hikes have started to flow through the economy.

The euro was down 0.2% against the dollar at a three-week low of $1.0773, as markets adjust rate expectations lower following soft data and dovish central bank commentary.

Sectorally, buying was seen in utilities, power, oil & gas, IT and capital goods while healthcare, telecom, banks, and realty sector saw some selling pressure.

The government will offload about 3.76 crore shares, which represents 4% stake through the OFS, and in the case of oversubscription, an additional 4% stake will be under sale

Under the proposed merger scheme, shareholders of TV18 Broadcast will get 100 shares of Network18 Media for every 172 shares held in the former. Shareholders of E18 will receive 19 shares of Network18 Media for every 1 share held in the former.

"The short-term trend of Nifty continues to be positive. Having moved up sharply in the last few sessions and the placement of hurdle around 20,910 levels (61.8% Fibonacci extension), there is a possibility of consolidation or minor correction from near 21,000 levels in the short term. Immediate support is placed at 20,800 levels," said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

The support for the index lies at 20,850, below which the market may witness a healthy correction in the short term, he said. On the other hand, a move above 21,000 might trigger a resumption of the bullish trend.