The domestic equity benchmarks ended with decent gains on Thursday, extending their winning streak for third consecutive session. The Nifty closed above the 17,500 mark. FMCG, oil & gas and media stocks advanced while banks, autos and financial stocks corrected. The trading was volatile due to expiry of weekly index options on the NSE today.
As per provisional closing data, the barometer index, the S&P BSE Sensex, rose 157.45 points or 0.27% to 58,807.13. The Nifty 50 index added 47.65 points or 0.27% to 17,517.40. Both the indices have risen about 3.60% in three sessions.
The broader indices outperformed the benchmarks. The S&P BSE Mid-Cap index rose 0.38% while the S&P BSE Small-Cap index gained 0.80%.
The market breadth was strong. On the BSE, 2124 shares rose and 1157 shares fell. A total of 117 shares were unchanged.
The market undercurrent was strong after media reported that the omicron variant of the coronavirus may not disrupt economies as much as feared. A report from Pfizer and BioNTech indicated that a third dose of their COVID-19 vaccine neutralized omicron in laboratory tests, but that a two-dose regimen is less effective.
IPO Updates:
The initial public offer (IPO) of Rategain Travel Technologies received bids for over 25.51 crore shares as against 1.73 crore shares on offer, according to stock exchange data at 15:21 IST on Thursday (9 December 2021). The issue was subscribed 14.70 times.
The issue opened for bidding on Tuesday, 7 December 2021 and it will close today, 9 December 2021. The price band of the IPO is fixed at Rs 405-425. An investor can bid for a minimum of 35 equity shares and in multiples thereof. The offer comprises of a fresh issue up to Rs 375 crore and an offer for sale of up to 2,26,05,530 equity shares.
The IPO of Shriram Properties received bids for over 4.19 crore shares as against 2.93 crore shares on offer, according to stock exchange data at 15:21 IST on Thursday (9 December 2021). The issue was subscribed 1.43 times.
The issue opened for bidding on Wednesday, 8 December 2021 and it will close on 10 December 2021. The price band of the IPO is fixed at Rs 113-118. An investor can bid for a minimum of 125 equity shares and in multiples thereof. The offer comprises of the fresh issue of upto Rs 250 crore and offer for sale of upto Rs 350 crore.
The IPO of C.E. Info Systems (MapMyIndia) received bids for over 1.07 crore shares as against 70.44 lakh shares on offer, according to stock exchange data at 15:21 IST on Thursday (9 December 2021). The issue was subscribed 1.52 times.
The issue opened for bidding today, 9 December 2021 and it will close on 13 December 2021. The price band of the IPO is fixed at Rs 1,000-1,033. An investor can bid for a minimum of 14 equity shares and in multiples thereof. The offer comprises of issue of up to 1,00,63,945 equity shares (including anchor portion of 30,19,183 equity shares).
Buzzing Index:
The Nifty FMCG index rose 1.44% to 38,201.65. The index has added 3.75% in three sessions.
Godrej Consumer (up 2.91%), Britannia Industries (up 1.52%), United Spirits (up 1.51%), Procter & Gamble Hygiene (up 1.42%), United Breweries (up 1.06%), Dabur India (up 0.99%), Tata Consumer Products (up 0.77%) and Varun Beverages (up 0.22%) advanced.
Colgate-Palmolive India (down 1.01%), Nestle India (down 1%) and Emami (down 0.43%) declined.
ITC jumped 4.65% to Rs 235.40 after the FMCG company announced that it will hold its first analyst meet on 14 December 2021.
"the company will hold its 'Institutional Investors and Financial Analysts Day' on Tuesday, 14th December, 2021 from 10.30 am," the company informed in an exchange filing today.
Stocks in Spotlight:
Mahindra & Mahindra (M&M) rose 1.34% to Rs 851.90. Reliance BP Mobility (RBML), operating under the brand name Jio-bp and The Mahindra Group, announced a non-binding MoU for exploring creation of EV products and services, alongside identifying synergies in low-carbon and conventional fuels. The MoU also covers evaluating charging solutions by Jio-bp for Mahindra vehicles including electric 3 and 4 wheelers, quadricycles and e-SCV (small commercial vehicles - sub 4 ton).
Gland Pharma gained 1.44% to Rs 3581.30 after the company received a tentative approval from the United States Food and Drug Administration (US FDA) for Cangrelor for Injection, 50 mg/vial Single-Dose Vials.
Vedanta advanced 1.84% to Rs 348.15. The natural resources company said that its board, on 11 December 2021, will consider and approve second interim dividend on equity shares for the financial year 2021-22. The record date for the same is 18 December 2021.
RailTel Corporation of India added 3.44% to Rs 123.25. The company has received work order from Ircon International at a total cost of Rs. 210.77 crore (Inclusive of GST). The entire work is to be completed in a period of twelve months.
Dr Reddy's Laboratories rose 0.78% to Rs 4606.75. The drug company said that it has launched Valsartan Tablets, USP, a therapeutic equivalent generic version of Diovan (valsartan) Tablets approved by the U.S. Food and Drug Administration (USFDA) in the U.S. market. Valsartan oral tablet is used to lower blood pressure, treat heart failure, or increase chances of survival after a heart attack.
Meanwhile, Dr Reddy's Laboratories and Prestige BioPharma entered into a binding agreement for an exclusive partnership for the supply and commercialization of the latter's proposed Trastuzumab biosimilar in select countries in Latin America and Southeast Asia.
Indiabulls Housing Finance rose 1.08% to Rs 253.40. The housing financier announced the issue of secured, redeemable, non-convertible debentures of the face value of Rs 1,000 each. The issue opened today, 9 December 2021, and it will close on 20 December 2021, with an option of early closure.
The issue has a base issue size of Rs 200 crore with an option to retain oversubscription up to Rs 800 crore, aggregating up to Rs 1,000 crore. The NCDs have been rated 'CRISIL AA/Stable' by CRISIL Ratings and 'BWR AA+' by Brickworks Ratings India.
Global markets:
European shares declined while most Asian indices advanced on Thursday as investors continue to monitor developments around the omicron Covid variant and look ahead to key U.S. data.
Global markets have rallied in recent days as traders bet that the omicron Covid variant's economic impact won't be as severe as initially thought.
Investors will be keeping an eye on the latest weekly jobless claims data from the U.S. for a gauge of the country's economy; the data will be released on Thursday.
Meanwhile, the World Health Organization on Wednesday said the variant could change the course of the pandemic. Scientists worldwide are scrambling to determine just how contagious and lethal omicron is and how effective would existing vaccines be against the virus.
While preliminary evidence from South Africa, where the variant was first identified, may suggest that omicron is milder than the delta strain, WHO's technical lead on Covid-19 says it is "too early to conclude" that.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
