At 11:30 IST, the barometer index, the S&P BSE Sensex, was up 250.14 points or 0.32% to 78,791.09. The Nifty 50 index added 78.35 points or 0.33% to 23,832.30.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.41% and the S&P BSE Small-Cap index rose 0.53%.
The market breadth was strong. On the BSE, 2,292 shares rose and 1,463 shares fell. A total of 141 shares were unchanged.
IPO Update:
The initial public offer (IPO) of Unimech Aerospace and Manufacturing received bids for 2,61,12,365 shares as against 47,04,028 shares on offer, according to stock exchange data at 11:15 IST on 24 December 2024. The issue was subscribed 5.57 times.
The issue opened for bidding on 20 December 2024 and it will close on 24 December 2024. The price band of the IPO is fixed between Rs 610 and Rs 643 per share. An investor can bid for a minimum of 23 equity shares and in multiples thereof.
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The initial public offer (IPO) of Ventive Hospitality received bids for 2,64,88,387 shares as against 1,44,34,453 shares on offer, according to stock exchange data at 11:15 IST on 24 December 2024. The issue was subscribed 1.84 times.
The issue opened for bidding on 20 December 2024 and it will close on 24 December 2024. The price band of the IPO is fixed between Rs 610 and Rs 643 per share. An investor can bid for a minimum of 23 equity shares and in multiples thereof.
The initial public offer (IPO) of Senores Pharmaceuticals received bids for 16,87,32,692 shares as against 85,34,681 shares on offer, according to stock exchange data at 11:15 IST on 24 December 2024. The issue was subscribed 19.77 times.
The issue opened for bidding on 20 December 2024 and it will close on 24 December 2024. The price band of the IPO is fixed between Rs 372 and Rs 391 per share. An investor can bid for a minimum of 38 equity shares and in multiples thereof.
The initial public offer (IPO) of Carraro India received bids for 36,69,645 shares as against 1,30,98,803 shares on offer, according to stock exchange data at 11:15 IST on 24 December 2024. The issue was subscribed 0.28 times.
The issue opened for bidding on 20 December 2024 and it will close on 24 December 2024. The price band of the IPO is fixed between Rs 668 and Rs 704 per share. An investor can bid for a minimum of 21 equity shares and in multiples thereof.
Buzzing Index:
The Nifty Auto index rose 0.98% to 22,779.05. The index tumbled 4.25% in the past five consecutive trading sessions.
Tata Motors (up 2.74%), Bharat Forge (up 1.26%), Ashok Leyland (up 1.15%), Eicher Motors (up 1.05%) and Mahindra & Mahindra (up 0.92%), TVS Motor Company (up 0.82%), Exide Industries (up 0.74%), Samvardhana Motherson International (up 0.63%), Apollo Tyres (up 0.58%) and Maruti Suzuki India (up 0.49%) added.
On the other hand, Balkrishna Industries (down 0.37%), Bosch (down 0.35%) edged lower.
Stocks in Spotlight:
Mahanagar Telephone Nigam (MTNL) rose 2.14% after the company said that its board approved a Voluntary Retirement Scheme (VRS) for its employees.
H.G. Infra Engineering added 2.72% after the company announced its acquisition of 28,40,000 equity shares in its subsidiary, H.G. Jetpur Solar Project, for Rs 2.84 crore via a rights issue.
Global Markets:
Asian stocks advanced on Tuesday, buoyed by gains in technology shares that mirrored their U.S. counterparts. However, trading volumes remained thin ahead of the Christmas holiday.
Markets awaited further clarity on Beijing's plans for stimulus measures in the upcoming year. Recent reports indicated that China will increase fiscal spending to bolster economic growth.
Regional markets drew positive signals from Wall Street, which closed higher on Monday as technology stocks partially recovered from last week's steep declines.
On Monday, the S&P 500 gained 0.7% to 5,974.07 points, the Dow Jones Industrial Average rose 0.2% to 42,906.65, and the NASDAQ Composite climbed 1% to 19,764.89 points.
Broadcom Inc surged 5.5% as investors continued to acquire shares of the chipmaker following its strong quarterly results and optimistic guidance released earlier this month. Qualcomm Inc stock rose more than 3% after a jury ruled that its central processors are properly licensed under an agreement with UK-based Arm Holdings.
Wall Street will have a shortened trading session on Tuesday, as will most Asian markets.
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