The frontline indices managed to pare some losses in afternoon trade. Domestic sentiments were dented amid negative global cues. The Nifty traded above the 18,000 level. All the sectoral indices on the NSE were in red with consumer durables, FMCG and realty stocks falling the most. Trading could be volatile on account of monthly options expiry.
At 13:28 IST, the barometer index, the S&P BSE Sensex, was down 252.02 points or 0.41% to 60,658.26. The Nifty 50 index lost 80.70 points or 0.45% to 18,041.80.
In the broader market, the S&P BSE Mid-Cap index declined 0.82% while the S&P BSE Small-Cap index fell 0.22%.
The market breadth was negative. On the BSE, 1,476 shares rose, and 1,907 shares fell. A total of 158 shares were unchanged.
New Listing:
Shares of KFin Technologies were currently trading at Rs 366.15 at 13:21 IST on the BSE, representing a premium of 0.04% compared with the issue price of Rs 366.
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The scrip was listed at a price of Rs 369, at a premium of 0.82% as compared to the issue price.
So far, the stock has hit a high of 372.40 and a low of 351.10. On the BSE, over 3.70 lakh shares of the company were traded in the counter so far.
Gainers & Losers:
State Bank of India (SBI) (up 1.07%), Bharti Airtel (up 0.98%), SBI Life Insurace Company (up 0.61%), ONGC (up 0.49%) and Tata Steel (up 0.36%) were top Nifty gainers.
UltraTech Cement (down 1.89%), Tata Consumer Products (down 1.89%), Tata Motors (down 1.76%), Hindalco Industries (down 1.66%) and Apollo Hospitals Enterprise (down 1.63%) were major Nifty losers.
State Bank of India (SBI) rose 1.07%. The state-run lender board on 3 January 2023 will seek approval for raising infrastructure bonds upto an amount of Rs 10,000 crore through a public issue or private placement, during FY23.
Tata Steel shed 0.36%. The steel maker has acquired 1.15 crore equity shares at an issue price of Rs 12.81 per share of Tata Steel Advanced Materials (TSAML), for an amount aggregating to approximately Rs 14.80 crore. On completion of the acquisition, TSAML will continue to be a wholly owned subsidiary of the company.
Stocks in Spotlight:
Tata Power declined 1.30%. Tata Power Renewable Energy (TPREL), a subsidiary of Tata Power has received the letter of award (LoA) from Tata Power Delhi Distribution (Tata Power -DDL), a joint venture of Tata Power and the Govt. of NCT of Delhi, for setting up a 255 MW hybrid (wind and solar) power project in Karnataka. The project will be commissioned within 24 months from the PPA execution date.
JSW Energy rose 1.73%. The company announced it has completed the acquisition of Ind-Barath Energy (Utkal) for a resolution amount of Rs 1,047.60 crore.
NTPC shed 0.75%. The state-run power major said that it declared commercial operation of second part capacity of 50 megawatt (MW) out of 300 MW Nokhra Solar PV project at Bikaner, Rajasthan.
Global Markets:
Markets in Asia declined across the board on Thursday, taking lead from Wall Street's overnight losses as investors looked to the year ahead.
US stocks ended weaker on Wednesday, as investors grappled with mixed economic data, rising COVID cases in China, and geopolitical tensions heading into 2023.
The U.S. government announced it will require airline passengers arriving from China, Hong Kong and Macau to show a negative Covid test starting January 5 regardless of nationality of vaccination status.
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