Sensex ends choppy day 49 pts down; DreamFolks rallies 42%; pvt banks weak
DreamFolks Services made a strong stock market debut as its shares got listed at Rs 508.70, a 56 per cent premium over its issue price of Rs 326 per share on the National Stock Exchange (NSE)
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CLOSING BELL
Stock market highlights: After swinging wildly in trade in the first half of the session, benchmark indices held muted gains during the second half. By close, the S&P BSE Sensex and the Nifty50 mildly below the flat line, down up to 0.08 per cent.
In absolute terms, the 30-pack index settled 49 points lower at 59,197, while the 50-share index dipped 20 points to end at 17,656.
Bharti Airtel, NTPC, Apollo Hospitals, Cipla, SBI Life, RIL were the top gainers, rising over 1 per cent each. On the flipside, Tata Consumer Products, Bajaj twins, UPL, Britannia, Kotak Bank, and M&M were the laggards, down up to 2.4 per cent.
In the broader market, the BSE MidCap index edged 0.5 per cent higher, and the BSE SmallCap index adde 0.1 per cent. Shriram Transport Finance, Adani Power, Crompton Greaves Consumer Electricals, Tata Power, Rossell India, and GRM Ovrseas were some of the notable gainers in the space.
Among sectors, the Nifty Private Bank and FMCG indices were worst hit, down 0.5 per cent each. On the contrary, the Nifty Metal index climbed over 1 per cent.
Primary market
Stock market highlights: After swinging wildly in trade in the first half of the session, benchmark indices held muted gains during the second half. By close, the S&P BSE Sensex and the Nifty50 mildly below the flat line, down up to 0.08 per cent.
In absolute terms, the 30-pack index settled 49 points lower at 59,197, while the 50-share index dipped 20 points to end at 17,656.
Bharti Airtel, NTPC, Apollo Hospitals, Cipla, SBI Life, RIL were the top gainers, rising over 1 per cent each. On the flipside, Tata Consumer Products, Bajaj twins, UPL, Britannia, Kotak Bank, and M&M were the laggards, down up to 2.4 per cent.
In the broader market, the BSE MidCap index edged 0.5 per cent higher, and the BSE SmallCap index adde 0.1 per cent. Shriram Transport Finance, Adani Power, Crompton Greaves Consumer Electricals, Tata Power, Rossell India, and GRM Ovrseas were some of the notable gainers in the space.
Among sectors, the Nifty Private Bank and FMCG indices were worst hit, down 0.5 per cent each. On the contrary, the Nifty Metal index climbed over 1 per cent.
Primary market
DreamFolks Services made a strong stock market debut as its shares got listed at Rs 508.70, a 56 per cent premium over its issue price of Rs 326 per share on the National Stock Exchange (NSE) on Tuesday. On the BSE, the stock opened at Rs 505, a 55 per cent premium over its issue price. The stock hit a high of Rs 550 on the BSE, and ended at Rs 463 per share, up 42 per cent higher against the issue price.
Meanwhile, the three-day issue of Tamilnad Mercantile Bank sailed through on the second day of the offer, backed by retail investors. The issue was subscribed 1.25 times by 3:30 PM, with retail portion seeing a subscription of 3 times; QIB 0.7 times; and NII 1.06 times.
Meanwhile, the three-day issue of Tamilnad Mercantile Bank sailed through on the second day of the offer, backed by retail investors. The issue was subscribed 1.25 times by 3:30 PM, with retail portion seeing a subscription of 3 times; QIB 0.7 times; and NII 1.06 times.
4:04 PM
MARKET COMMENT :: A fresh round of selling is possible after the dismissal of 17,550
As US markets were closed on Monday, local markets mostly witnessed a range-bound trend after see-sawing in early trades.Profit taking in banking & FMCG stocks saw indices finally end with marginal losses.
Technically, the Nifty opened firm but once again witnessed profit booking near its important resistance level of 17,750. Currently, the index is consolidating near the 20-day SMA (Simple Moving Average) and taking support near 17,550.
As long as the index is holding the 17,550 level, it could retest the level of 17,750-17,850. On the flip side, a fresh round of selling is possible after the dismissal of 17,550 and on further decline, it could slip till 17,500-17,400.
Views by: Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd
Technically, the Nifty opened firm but once again witnessed profit booking near its important resistance level of 17,750. Currently, the index is consolidating near the 20-day SMA (Simple Moving Average) and taking support near 17,550.
As long as the index is holding the 17,550 level, it could retest the level of 17,750-17,850. On the flip side, a fresh round of selling is possible after the dismissal of 17,550 and on further decline, it could slip till 17,500-17,400.
Views by: Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd
3:58 PM
MARKET COMMENT :: Global cues dictating trend
Domestic indices wiped out its early gains to close flat, tracking mixed global cues. While the energy crisis and ECB interest rate decision later in the week pressurized European markets. Chinese policymakers’ renewed efforts to strengthen its economy boded well for the Chinese bourses. In an effort to stabilize declining oil prices, OPEC+ opted to cut back on the output given the faltering global growth outlook
Views by: Vinod Nair, Head of Research at Geojit Financial Services
Views by: Vinod Nair, Head of Research at Geojit Financial Services
3:57 PM
Currency Check :: Rupee closes unchanged at 79.84/$
3:56 PM
IPO Update :: Tamilnad Mercantile Bank sees 1.4x subscription till 3:40 PM on day 2
3:54 PM
PNB, too, sees large trade; stock up 4%
>> 8.5 million shares change hands on BSE
3:53 PM
Tata Power rises over 4.5% post large trade
>> Around 2.8 million shares changed hands on the BSE
3:50 PM
Syngene International falls 2% after block deal
>> Biocon likely offloaded partial stake
3:48 PM
DreamFolks Services soars 42% on debut
3:45 PM
Broader Market Check :: BSE SmallCap index eke out muted gains; rise 0.1%
3:44 PM
Broader Market Check :: BSE MidCap index up 0.5%; VBL, Crompton Greaves top gainers
3:43 PM
Sensex Contributors :: Kotak bank, HUL, HDFC Bank top draggers
3:43 PM
Sector check :: Most indices see profit booking; Metals shine
3:40 PM
Sensex Heatmap :: NTPC, Airtel charge ahead; 20 stocks fall
3:36 PM
CLOSING BELL :: D-Street ends flat
>> In absolute terms, the 30-pack index settled 49 points lower at 59,197, while the 50-share index dipped 20 points to end at 17,656.
3:31 PM
ALERT
Topics : IPO Markets MARKET LIVE stock markets S&P BSE Sensex Nifty50 BSE NSE DreamFolks Services listing Dalal Street Oil Prices Shapoorji Pallonji group Crude Oil Price
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First Published: Sep 06 2022 | 8:21 AM IST
