The market has opened slightly higher on Monday. The Nifty is currently at 5818, up 55 points from the previous close. The Sensex is at 19,529, up 166 points. Reliance Energy is up 5%, on the news that the company has decided to make a Rs 8,000-crore preferential issue allotment of equity shares to its promoters and long-term institutional investors. IFCI is also up 4.5%.

After Rs 104-105, IFCI can go to Rs 111 and beyond that, to Rs 127-130, says Rajat Bose, technical analyst, on CNBC-TV18. It should not fall below Rs 92 now, he adds. The stock is up 5.6% today, on the news that the company is offering up to 20% to IFC, before the stake sale. International Finance Corporation (IFC) is the multilateral institution and the investment arm of World Bank.