The key equity barometers continued to trade near the flat line in mid morning trade. At 11:28 IST, the barometer index, the S&P BSE Sensex, was up 28.3 points or 0.05% to 60,350.67. The Nifty 50 index added 1.80 points or 0.01% to 18,001.
In the broader market, the S&P BSE Mid-Cap index rose 0.40% while the S&P BSE Small-Cap index gained 0.77%.
The market breadth was positive. On the BSE, 1775 shares rose and 1344 shares fell. A total of 147 shares were unchanged.
Primary Market:
The initial public offer (IPO) of Tarsons Products received bids for over 4.86 crore shares as against 1.08 crore shares on offer, according to stock exchange data at 11:15 IST on Wednesday (17 November 2021). The issue was subscribed 4.49 times.
The issue opened for bidding on 15 November 2021 and it will close on 17 November 2021. The price band of the IPO is fixed at Rs 635-662.
The initial public offer (IPO) of Go Fashion (India) received bids for over 62.62 lakh shares as against 80.79 lakh shares on offer, according to stock exchange data at 11:15 IST on Wednesday (17 November 2021). The issue was subscribed 0.78 times.
The issue opened for bidding on 17 November 2021 and it will close on 22 November 2021. The price band of the IPO is fixed at Rs 655-690.
Buzzing Index:
The Nifty Auto index rose 0.73% to 12,064.45, extending gains for second day. The index has added 3.22% in two sessions.
Tata Motors (up 2.82%), Maruti Suzuki (up 0.64%), Bharat Forge (up 0.61%), TVS Motor Company (up 0.59%) and Mahindra & Mahindra (up 0.48%) advanced while Eicher Motors (down 0.82%) and Ashok Leyland (down 0.68%) declined.
Stocks in Spotlight:
L&T Technology Services (LTTS) jumped 5.66% to Rs 5673.15. The company was selected as an engineering partner by Mavenir and NVIDIA, to accelerate adoption of the industry's first converged AI-on-5G.
White Organic Agro hit an upper circuit limit of 10% at Rs 12.99 after the company said it received a contract for supplying 2500 ton food grains. In FY22 the company supplied food grains worth Rs 15 crore to the same group company.
Global markets:
Asian stocks were trading mixed on Wednesday.
Japan's exports snapped seven months of double-digit growth and hit an eight-month low in October due to slowing car shipments, as global supply constraints hit the country's major manufacturers. Exports rose 9.4% year-on-year in October, Ministry of Finance data showed on Wednesday. It followed 13% growth in the prior month and was the weakest expansion since a decline in February. Car shipments fell 36.7%.
U.S. stocks gained on Tuesday after a strong October retail sales report and better-than-expected third-quarter results from Home Depot and Walmart signaled the U.S. consumer is still ramping up spending even in the face of rising prices.
The latest retail sales figures for October showed consumers were increasing their spending, with sales jumping 1.7%. That compares to a 0.8% increase in the prior month. The report showed broad strength in a number of categories from autos to sporting goods. Online sales were up 10.2% from a year ago. The gains came even as consumer prices surged 6.2% year-over-year last month, inflation not seen since the 1990s.
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