Domestic equity markets began trading with gains on Tuesday morning. S&P BSE Sensex was above 52,400 while the broader 50-stock NSE Nifty breached 15,400 for the first time ever. Kotak Mahindra Bank, IndusInd Bank, and ONGC were among the top gainers on Sensex. Down in the red were Axis Bank, Bajaj Finance, and Bajaj Finserv. Broader markets were following the benchmarks as they moved higher. India VIX or the volatility gauge moved lower while Nifty Pharma was the only sectoral index to trade with losses.
Today, Indian stock markets will witness the listing of the third Real Estate Investment Trust on the bourses. Brookfield India REIT, the Rs 3,800 crore public issue that closed with a 7.94 times subscription earlier this month will begin trading today. Analysts are expecting a premium listing of the REIT after units were sold at a price band of Rs 274-275 apiece. Prior to Brookfield India REIT, Embassy Office Parks REIT and Mindspace Business Parks REIT already trade on BSE and NSE. REITs, unlike shares, have a minimum lot size and purchases can only be made in multiples of that.