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Edelweiss expects the issue’s free float which will be considered by index providers to be at 3.5%, less than the 5% which the government intends to dilute because the global indices do not include the lock in shares in the IPO.

In the international market, gold was trading 0.24 per cent up at USD 1,857 per ounce. Silver was trading marginally up at USD 23.52 per ounce

Burger King is a beneficiary of the reopening theme. Its business is likely to see traction going ahead as vaccinations rates have surged and pandemic is making way for normalcy.

A 3 per cent decline in crude oil prices following the development also buoyed sentiment for the Indian currency, dealers said.

The Nifty Pharma index closed 0.51 per cent up at 13425.1.

A bearish candle on the daily scale and lack of follow-up buying at higher zones have sent mixed signals.

“We took about a 5% price hike last year and we did not take it all in one go and staggered price hikes for different products. But now I think we will have to take at least 5% price increase either in March or April. Hard luggage is the fastest growing because it is slightly cheaper than the upper end of the soft luggage.”

The Nifty Realty index was trading 1.95 per cent up at 459.5.

On the technical charts, the RSI of the stock stood at 50.06.

Market experts said that banning cryptocurrencies is not the right way forward, rather the easiest way out for now