Share markets in India are presently trading marginally higher.

The BSE Sensex is trading up by 155 points, up 0.3%, at 53,034 levels.

Meanwhile, the NSE Nifty is trading up by 55 points.

UltraTech Cement and Shree Cement are among the top gainers today. Tech Mahindra and TCS are among the top losers today.

The BSE Mid Cap index is trading up by 0.9%.

The BSE Small Cap index is trading up by 0.7%.

On the sectoral front, stocks from the basic materials and banking sector, are witnessing most of the buying interest.

On the other hand, stocks from the software sector, are witnessing most of the selling pressure.

US stock futures are trading mixed today.

Nasdaq Futures are trading down by 15 points (down 0.1%) while Dow Futures are trading up by 29 points (up 0.1%).

The rupee is trading at 74.32 against the US$.

Gold prices are trading up by 0.7% at Rs 47,648 per 10 grams.

In global markets gold prices were steady today and edged towards US$ 1,800, boosted by a subdued dollar. Spot gold was steady near a two-week high of US$ 1,792.3 per ounce.

Supported by positive global cues, gold prices edged higher in Indian markets. On MCX, gold futures were up 0.3% to near a two-week high of Rs 47,445 per 10 grams in early trade. In the previous session, gold had edged up 0.1%.

Moving on to stock-specific news...

Among the buzzing stocks, today is NMDC.

The Government of India will sell about 7.5% of its stake in NMDC through an offer for sale (OFS) which will help it collect over Rs 36.2 bn in divestment receipts.

The government will sell a 4% stake or 117.2 m shares in the iron ore producer at a floor price of Rs 165 each. The floor price has been set at a nearly 6% discount to the stock's closing price on 6 July 2021.

The OFS also includes a greenshoe option to sell an additional 3.5% shareholding or 102.2 m shares of the public sector undertaking (PSU).

The entire 7.5% stake sale is likely to fetch the government about Rs 36.2 bn and will reduce its shareholding in the company to 60.8%.

The OFS will open for institutional investors on 6 July and will get an option to carry forward their unallocated bids to the next day for allocation from the unsubscribed portion for retail investors.

The issue will open for retail investors on 7 July.

NMDC is a government-owned mineral producer. It is under the administrative control of the Ministry of Steel, Government of India.

It is involved in the exploration of iron ore, copper, limestone, gypsum, etc.

We will keep you posted on more updates from this space. Stay tuned.

At the time of writing, NMDC shares were trading down by 1.5% on the BSE.

Speaking of public sector undertakings (PSU), have a look at the chart below which shows the performance of the BSE PSU index compared to BSE Sensex over the past few years.

As can be seen from the chart above, over the last decade, Rs 100 invested in the BSE-PSU index would have eroded to Rs 80, compared to almost 3x gains for the Sensex.

Moving on to news from the IPO space...

Clean Science and Technology IPO Opens Tomorrow

Clean Science and Technology's (CSTL) Rs 15.5 bn initial public offering (IPO) opens for subscription tomorrow, 7 July.

Investors can bid for the IPO in the price band of Rs 880-900 per share of face value Rs 1.

The issue is entirely an offer for sale (OFS) by existing investors, including promoters of the company and does not involve a fresh issue.

Post-IPO, the promoter and promoter group shareholding will drop to 78.5% from 94.7%. On the other hand, public shareholding in the firm will increase to 21.5% from 5.4%.

The subscription window for investors will remain open from tomorrow till the end of the week.

Clean Science and Technology manufactures specialty chemicals such as performance chemicals, pharmaceutical intermediates, and FMCG chemicals. The company is the leading manufacturer in several of its products.

Currently, shares of the company are quoting a premium of Rs 480 per share in the grey market. This translates to a strong 53% premium over the higher end of the price band of the issue price.

How the IPO sails through remains to be seen. Meanwhile, stay tuned for more updates from this space.