What to watch: MCX IPO, Greek deal, Crude price

Moneycontrol Bureau

The MCX will be the first Indian exchange making a debut on the bourses today. With the issue price fixed at Rs 1032, analysts say the issue could get a range of Rs 1350 to Rs 1380. Will this lift sentiment in the primary market? How will the Nifty trade today? Here are the cues.

Pointers from international markets:

According to a Greek official, the participation rate at the debt swap is above 90%, meaning that Greece can now move forward with the biggest sovereign debt restructuring in history. This led European markets to log in 1-3% gains.

Yet another cue for markets in Europe came from the Central Bank's policy meeting that concluded yesterday. As widely expected, the ECB left its key interest rate unchanged at 1%. However, it has cut its growth forecast and raised the red flag on inflation owing to rise in oil prices.

Meanwhile, Wall Street too ended higher on optimism over the Greek debt swap deal and ahead of the crucial jobs data report today. The CBOE volatility index in fact finished below 18. S&P was up 1% at 1365.9, Dow up by 0.6% at 12907.9 and Nasdaq up 1.1%.

Asian stocks have risen for a second day as Greece moved closer to completing the biggest sovereign-debt restructuring in history, easing concern the nation at the center of Europe