The domestic equity barometers traded with decent gains in morning trade. Realty, metals and auto shares were in demand. At 10:25 IST, the barometer index, the S&P BSE Sensex, was up 263.50 points or 0.57% to 46,526.67. The Nifty 50 index was up 74.55 points or 0.55% at 13,642.40.
In the broader market, the S&P BSE Mid-Cap index gained 0.60% while the S&P BSE Small-Cap index rose 0.78%.
The market breadth was strong. On the BSE, 1723 shares rose and 756 shares fell. A total of 136 shares were unchanged.
Farmers' Protest:
Farmers' protest against new farm laws continues at various borders of Delhi. Security has been enhanced at the border areas including at Singhu border and Jaisinghpur-Khera at Rajasthan-Haryana border with multi-layered barricades. Rapid Action Force & additional forces have also been deployed at Singhu between Delhi-Haryana.
Prime Minister Narendra Modi reiterated that the central government is committed to the welfare of farmers and it will keep assuring the farmers and addressing their concerns.
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Meanwhile, agriculture minster Narendra Singh Tomar said that the government is willing to continue dialogue with genuine farmers unions and find a solution with an open mind. He asserted that MSP is an administrative decision and will continue as it is.
Coronavirus Update:
Total COVID-19 confirmed cases worldwide stood at 73,434,930 with 1,634,339 deaths. India reported 332,002 active cases of COVID-19 infection and 144,096 deaths while 9,456,449 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Primary Market:
The initial public offer (IPO) of Mrs. Bectors Food Specialities received bids for 5.41 crore shares as against 1.32 crore shares on offer on Wednesday (16 December 2020), according to the stock exchange data at 10:15 IST. The issue was subscribed 4.09 times.
The issue opened for subscription on Wednesday (15 December 2020) and it will close on Thursday (17 December 2020). The price band for the IPO is set at Rs 286-288 per share.
Buzzing Index:
The Nifty Realty index jumped 4.41% to 301.75. The index declined 1.20% in the past two sessions.
Indiabulls Real Estate (up 12.31%), Godrej Properties (up 8.25%), Oberoi Realty (up 5.01%), DLF (up 3.61%), Sobha Developers (up 3.49%), Sunteck Realty (up 2.64%), Brigade Enterprises (up 1.27%), Prestige Estates (up 1.01%) and Omaxe (up 0.99%) advanced while The Phoenix Mills (down 0.24%) declined.
Stocks in Spotlight:
Punjab National Bank (PNB) tumbled 4.69% to Rs 38.65. The capital raising committee of the bank, at its meeting held on 15 December 2020, authorised the opening of the QIP issue and approved the floor price of Rs 37.35 per equity share, the bank said in a regulatory filing. The floor price is at a 7.89% discount to Tuesday's closing price of Rs 40.55 per share. The capital raising committee of the bank will meet on Friday, 18 December 2020 to determine the QIP issue price.
"Our bank intends to utilize the net proceeds towards augmenting our bank's tier I capital to meet the basel III and to support growth plans and to enhance the business of our bank; and for general corporate requirements or any other purposes, PNB said in its draft placement document filed with the bourses.
H.G. Infra Engineering jumped 4.60% to Rs 232.90 after the company was declared as lowest bidder by IRCON International for a contract with bid price of Rs 784.99 crore. The scope of the order includes civil works like Earthwork for railway formation, blanketing work, minor bridges, major bridges, robs, rubs, fobs, track linking works (including supply of ballast but excluding supply of rails and sleepers), station building and other service buildings, staff quarters, platform work.
The project also includes general electrical works between Gevra Road to Sendurgarh double line and Urga to Kusmunda single line in the state of Chhattisgarh. HG Infra said the completion period is 30 months including monsoon period.
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