At 11:32 IST, the barometer index, the S&P BSE Sensex, was down 167.62 points or 0.23% to 71,427.87. The Nifty 50 index lost 75.50 points or 0.35% to 21,707.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 1.55% and the S&P BSE Small-Cap index slipped 1.66%.
The market breadth was weak. On the BSE, 1,091 shares rose and 2,716 shares fell. A total of 164 shares were unchanged.
IPO Update:
The initial public offer (IPO) of Entero Healthcare Solutions received bids for 10,02,595 shares as against 71,50,100 shares on offer, according to stock exchange data at 11:33 IST on Monday (12 February 2024). The issue was subscribed 0.14 times.
The issue opened for bidding on Friday (9 February 2024) and it will close on Tuesday (13 February 2024). The price band of the IPO is fixed at Rs 1,195-1,258 per share. An investor can bid for a minimum of 10 equity shares and in multiples thereof.
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Buzzing Index:
The Nifty Oil & Gas index slipped 2.10% to 11,299.60. The index declined 3.46% in two trading sessions.
Oil India (down 5.68%), Bharat Petroleum Corporation (down 4.03%), Indian Oil Corporation (down 3.89%), Petronet LNG (down 3.76%), Gujarat State Petronet (down 3.52%), Hindustan Petroleum Corporation (down 3.39%), Gujarat Gas (down 2.99%), Oil & Natural Gas Corpn (down 2.75%), Indraprastha Gas (down 1.9%) and Castrol India (down 1.86%) declined.
Stocks in Spotlight:
Aurobindo Pharma added 0.50% after the companys consolidated net profit surged 90.6% to Rs 936 crore in Q3 FY24 as compared with Rs 491 crore in Q3 FY23. Revenue from operations jumped 14.7% YoY to Rs 7,352 crore in Q3 FY24.
Advanced Enzyme Technologies rose 2.90% after the company reported 52% jump in consolidated net profit to Rs 42.5 crore on a 13% rise in income from operations to Rs 160.9 crore in Q3 FY24 as compared with Q3 FY23.
Easy Trip Planners rose 0.81%. The companys board has in-principally approved a proposal to open a five-star hotel in Ayodhya, which would be located less then one kilometer away from 'Shree Ram Mandir'.
Global Markets:
Asia markets advanced on Monday to start a holiday-shortened week for most markets, while China remains shut for the week. Many major stock markets in Asia-Pacific were closed Monday including Hong Kong, Taiwan and South Korea.
Wall Street ended higher on Friday after Decembers revised inflation reading came in lower than first reported. The benchmark S&P 500 closed above the key 5,000 level for the first time ever.
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