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At 7:30 am, the SGX Nifty futures were around 12 points lower at 17,680.
Brent crude prices rose by $3 in the previous session, and were nearly flat in early trades on Tuesday at around $95 per barrel.
This comes after the Organization of the Petroleum Exporting Countries (OPEC) and its partners said they have decided to cut crude oil production by 100,000 barrels per day (bpd) from October onwards.
That apart, among stocks, Syngene International will be in focus. As per reports, Biocon will sell 5.1 per cent stake or 2.18 crore shares in the company. The block deal size is around Rs 1,250 crores.
Tamilnad Mercantile Bank’s three-day IPO was subscribed 83 per cent on Monday. Retail investors bought shares 1.53 times the portion set aside for them, while qualified institutional investors put in bids for 73 percent of shares reserved for them.
DreamFolks Services is set to make its debut today. The IPO was subscribed 56.68 times, and the issue price is fixed at Rs 326. As per IPO Watch, DreamFolks could list upto 30 per cent higher over the issue price.
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