The key equity indices traded with moderate losses in morning trade. The Nifty traded below the 18,200 level. IT shares extended losses for the third consecutive trading session.
At 10:30 IST, the barometer index, the S&P BSE Sensex, was down 445.09 points or 0.72% to 61,218.39. The Nifty 50 index shed 132.80 points or 0.73% to 18,174.85.
In the broader market, the S&P BSE Mid-Cap index lost 0.16% while the S&P BSE Small-Cap index rose 0.14%.
The market breadth was negative. On the BSE, 1,422 shares rose, and 1,826 shares fell. A total of 179 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 751.20 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 890.45 crore in the Indian equity market on 18 November, provisional data showed.
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Shares of Archean Chemical Industries were currently trading at Rs 463.4 at 10:28 IST on the BSE, representing a premium of 13.86% compared with the issue price of Rs 407.
The scrip was listed at a price of Rs 449, at a premium of 10.32% as compared to the issue price.
So far, the stock has hit a high of 476.05 and a low of 442. On the BSE, over 7.36 lakh shares of the company were traded in the counter so far.
Shares of Five-Star Business Finance were currently trading at Rs 491.9 at 10:28 IST on the BSE, representing a premium of 3.78% as compared to the issue price of Rs 474.
The scrip was listed at a price of Rs 449.95, at a discount of 5.07% as compared to the issue price.
So far, the stock has hit a high of 494 and a low of 448.20. On the BSE, over 1.89 lakh shares of the company were traded in the counter so far.
Buzzing Index:
The Nifty IT index declined 1.31% to 29,280, extending losses for the third session. The index slipped 2.24% in the three trading sessions.
Persistent Systems (down 1.78%), L&T Technology Services (down 1.46%), Larsen & Toubro Infotech (down 1.43%), Tata Consultancy Services (down 1.3%), Infosys (down 1.13%), Tech Mahindra (down 1.13%), Wipro (down 0.98%), Coforge (down 0.85%), Mphasis (down 0.6%) and HCL Technologies (down 0.44%) edged lower.
Stocks in Spotlight:
Tata Motors shed 0.15% while Dr Reddy's Laboratories (DRL) fell 1.64%. Tata Motors will replace Dr Reddy's Laboratories in the 30-share benchmark S&P BSE Sensex effective Monday, 19 December 2022.
Easy Trip Planners jumped 9.97% ahead of the company's record date for the proposed 2-for-1 stock split and the 3:1 bonus shares. The record date for the proposed stock split and bonus share issue is set on Tuesday, 22 November 2022. Shareholders whose names appear in a company's record as on the record day will be entitled for the proposed stock split and bonus issue.
The company will split each existing equity share of face value of Rs 2 into two equity shares of face value of Re 1 fully paid- up. Further, it will issue three bonus equity shares of Re 1 each for each equity share of Re 1 each.
Aarti Industries gained 2.59% and Deepak Fertilisers & Petrochemicals Corporation rose 1.80% (DFPCL). Aarti Industries and DFPCL on 19 November 2022 announced that they have signed a binding term sheet for a 20-year period for offtake and supply of Nitric Acid. The parties plan to execute the formal agreement before the close of this calendar year. The supply arrangement comes into effect from 1st April 2023.
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