The benchmark indices were trading with decent gains in early afternoon trade. At 12:20 IST, the barometer index, the S&P BSE Sensex, rose 86.59 points or 0.14% at 60,773.28. The Nifty 50 index gained 23.85 points or 0.13% at 18,126.60.
In the broader market, the S&P BSE Mid-Cap index added 0.24% while the S&P BSE Small-Cap index slipped 0.24%.
The market breadth was weak. On the BSE, 1,274 shares rose and 2,026 shares fell. A total of 152 shares were unchanged.
Economy:
India's inflation based on wholesale price index (WPI) stood at 12.54% in October 2021 compared with 1.31% in October 2020.
"The high rate of inflation in October 2021 is primarily due to rise in prices of mineral oils, basic metals, food products, crude petroleum & natural gas, chemicals and chemical products etc. as compared the corresponding month of the previous year," the Ministry of Commerce & Industry said in a statement today.
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WPI grew 10.66% in September 2021, while the figure for August was 11.64%.
India's retail inflation rose marginally to 4.48% in the month of October from 4.35% in September, data released by the government showed on Friday.
Further, India's industrial production for the month of September grew by 3.1% as compared to 1% in the same month last year, according to the data released by ministry of statistics and programme implementation (MoSPI). IIP surged 11.9% in the month of August.
New Listing:
Shares of PB Fintech (Policybazaar) were currently trading at Rs 1,241.25 at 12:25 IST on the BSE, a premium of 26.66% compared with the issue price of Rs 980. The scrip was listed at Rs 1,150, a premium of 17.35% to the issue price. So far, the scrip has hit a high of 1,249 and a low of 1,145 in the trading session. Over 10.66 lakh shares of the company changed hands in the counter on the BSE.
The initial public offer (IPO) of PB Fintech received was subscribed 16.58 times. PB Fintech, owner of Policybazaar and Paisabazaar platforms, is India's largest online platform for insurance and lending products leveraging the power of technology, data, and innovation.
Shares of SJS Enterprises were currently trading at Rs 535 at 12:27 IST on the BSE, a discount of 1.29% compared with the issue price of Rs 542. The scrip was listed at Rs 540, a discount of 0.37% to the issue price. So far, the scrip has hit a high of 551 and a low of 508.75 in the trading session. Over 1.72 lakh shares of the company changed hands in the counter on the BSE.
The IPO of SJS Enterprises was subscribed 1.59 times. SJS enterprises is a "design-to-delivery" aesthetics solutions provider with the ability to design, develop and manufacture a diverse product portfolio for a wide range of customers primarily in the automotive and consumer appliance industries.
Shares of Sigachi Industries were currently trading at Rs 603.75 at 12:28 IST on the BSE, a premium of 270.40% compared with the issue price of Rs 163. The scrip was listed at Rs 575, a premium of 252.76% to the issue price. The stock was currently frozen at the upper circuit of 5% at Rs 603.75. It hit the day's low of 570.45 in early trade. Over 5.28 lakh shares of the company changed hands in the counter on the BSE.
The IPO of Sigachi Industries was subscribed 101.91 times. Sigachi Industries manufactures microcrystalline cellulose (MCC) of various grades ranging from 15 microns to 250 microns. The MCC has varied applications in the pharmaceutical, food, nutraceuticals, and the cosmetic industries.
Derivatives:
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, jumped 3.43% to 15.74. The Nifty 25 November 2021 futures were trading at 18,115.35, at a discount of 11.25 points as compared with the spot at 18,126.60.
The Nifty option chain for 25 November 2021 expiry showed maximum Call OI of 24.5 lakh contracts at the 18,500 strike price. Maximum Put OI of 24.8 lakh contracts was seen at 17,500 strike price.
Buzzing Index:
The Nifty Healthcare index rose 1.73% to 8,812.55. The index added 2.52% in the two trading sessions.
Apollo Hospital Enterprise (up 9.11%), Metropolis Healthcare (up 6.58%), Laurus Labs (up 6.08%), Biocon (up 3.13%) and Glenmark Pharmaceuticals (up 2.41%) were the top gainers in the Healthcare segment.
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