All Eyes on India's Booming IPO Market as Investors Focus on Lenskart Listing

Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at:

Good morning, this is Ashutosh Joshi, an equities reporter in Mumbai. Indian markets will be hoping to benefit from the positive mood in Asia this morning, fueled by hopes that the US government shutdown may end soon. November has been tough so far, with the benchmark Nifty index capping its second straight weekly drop on Friday. Attention today is firmly on eyewear maker Lenskart Solutions, which is set to make its debut following a 72.8-billion rupee ($821 million) IPO that’s sparked a social media debate on the rich valuations for some local startups. The earnings season, meanwhile, continues to be a mixed bag — the wave of downgrades seems to be slowing but valuations remain stretched, keeping sentiment cautious. This week, all eyes will be on numbers from ONGC, Bajaj Finance, Bajaj Finserv, Asian Paints, and Tata Steel.