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Indian shares muted as Fed, oil and IPO rush dent risk appetite
Indian shares were little changed on Thursday as a U.S. rate hike and hawkish Federal Reserve commentary, elevated oil prices and a crowded IPO market offset bargain buying that followed the recent selloff. The $2.3 billion IPO for India’s biggest bourse, National Stock Exchange — also set to be the country’s third-largest ever — opened for bidding on the day, with investors subscribing about 36% of the portion on offer by 3:30 p.m. IST. The Nifty 50 rose 0.23% to 23,270.6, while the BSE Sensex shed 0.03% to 74,314.59. They had risen as much as 0.6% and 0.5% in intraday trade. Ahead of the cl...
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