The Dow Jones Industrial Average rose 74.01 points, or 0.21 per cent, at the open to 35,102.66.

The IPO consists of a fresh issue of up to Rs 1,100 crore by the company, which will be used as growth capital

The revenue of the company also rose 19.2 per cent year-on-year to $284.1 million from $238.4 million in the year-ago quarter

Sequentially, the net profit is seen rising around 12 per cent. In July-September, the insurer had reported a 17.71 per cent year-on-year (YoY) fall in net profit at Rs 246.62 crore compared with Rs 299.73 crore in the same quarter last year.

In the international market, gold was trading with gains at $1,841 per ounce and silver was flat at $24.13 per ounce.

The Nifty Pharma index closed 1.66 per cent down at 13454.9.

Ajit Mishra, VP - Research, Religare Broking, said, "Markets remained under pressure for the third successive session and lost nearly a per cent. The tone was negative from the beginning, tracking weak global cues which further deteriorated as the day progressed. However, a rebound in the final hour trimmed some losses."

The brokerage does not expect any inclusion or exclusion in the forthcoming quarterly review

Nagaraj Shetti of HDFC Securities believes the 17,600-500 levels would hold up well and that any fall towards that level, as seen on Thursday, would attract buying in Nifty50.

“As stated in Governor’s statement of December 8, 2021, the Reserve Bank has been rebalancing the surplus liquidity in the system by shifting it out of the fixed-rate overnight reverse repo window into the variable rate reverse repo (VRRR) auctions of longer maturity. Overall, this rebalancing has proceeded on a pre-announced glide path and has evolved satisfactorily,” the RBI said through a press release on its website.