The benchmark indices hit fresh intraday low in mid-morning trade, dragged by IT and pharma stocks. However, auto and bank stocks bucked weak market trend. The Nifty held above 17,200 level.
At 11:15 IST, the barometer index, the S&P BSE Sensex, dropped 326.16 points or 0.56% at 57,790.93. The Nifty 50 index lost 97.65 points or 0.56% at 17,227.25.
In the broader market, the S&P BSE Mid-Cap index fell 0.34% while the S&P BSE Small-Cap index rose 0.13%.
The market breadth was positive. On the BSE, 1,800 shares rose and 1,329 shares fell. A total of 131 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 763.18 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 425.43 crore in the Indian equity market on 14 December 2021, provisional data showed.
Economy:
India's merchandise exports jumped 27.16% to $30.04 billion in November 2021 on the back of good performance by sectors like petroleum products, engineering goods and electronic items, official data showed on Tuesday. The exports stood at $23.62 billion in November 2020. Imports in November 2021 were at $52.94 billion, recording an increase of 56.58% over inbound shipments of $33.81 billion in November 2020.
Primary Market:
The initial public offer (IPO) of MedPlus Health Services received bids for over 2.28 crore shares as against 1.25 crore shares on offer, according to stock exchange data at 10:48 IST on Wednesday (15 December 2021). The issue was subscribed 1.82 times.
The issue opened for bidding on 13 December 2021 and it will close on 15 December 2021. The price band of the IPO is fixed at Rs 780-796. An investor can bid for a minimum of 18 equity shares and in multiples thereof. The IPO of equity shares comprises of a fresh issue upto Rs 600 crore and an offer for sale of up to Rs 798.29 crore (including anchor portion of 52,51,111 equity shares).
The IPO of Data Patterns (India) received bids for over 3.02 crore shares as against 70.97 lakh shares on offer, according to stock exchange data at 10:48 IST on Wednesday (15 December 2021). The issue was subscribed 4.26 times.
The issue opened for bidding on 14 December 2021 and it will close on 16 December 2021. The price band of the IPO is fixed at Rs 555-585. An investor can bid for a minimum of 25 equity shares and in multiples thereof. The initial public offer comprises of fresh issue component of up to Rs 240 crore and an offer for sale up to 59,52,550 equity shares (including anchor portion of 30,16,533 equity shares).
The IPO of HP Adhesives received bids for over 31.49 lakh shares as against 25.28 lakh shares on offer, according to stock exchange data at 10:48 IST on Wednesday (15 December 2021). The issue was subscribed 1.25 times.
The issue opened for bidding on 15 December 2021 and it will close on 17 December 2021. The price band of the IPO is fixed at Rs 262-274. An investor can bid for a minimum of 50 equity shares and in multiples thereof. The Initial Public Offer (IPO) comprises up to 45,97,200 equity shares (including anchor portion of 20,68,700 equity shares).
Buzzing Index:
The Nifty Pharma index lost 1.10% to 13,426.70. The index rose 1.06% in the past trading session.
Pfizer (down 2.97%), Lupin (down 1.82%), Divi's Laboratories (down 1.77%), Glenmark Pharmaceuticals (down 1.73%) and Sun Pharmaceutical Industries (down 1.31%) were the top losers in the Pharma segment.
Stocks in Spotlight:
Anupam Rasayan India rose 1.64% after the company received a supply order from Japanese multinational customer. The scope of the order is to supply an existing life science related speciality chemical. The company earlier signed letter of intent for the product with same customer and now it has entered into a long-term contract for next four years. The contract is worth Rs 135 crore.
Ashoka Buildcon gained 1.98% after the company said it received letter of award for a construction project in Goa. Ashoka Buildcon said it has received letter of award from the Ministry of Road Transport & Highways (MoRTH) in respect of the project, which entails construction of six lane link road (NH-166S) with paved shoulder configuration to Mopa Airport in Goa on EPC mode.
Global Markets:
Most Asian stocks declined on Wednesday, 15 December 2021, as the world waited to hear from the US Federal Reserve on when it would stop buying assets and start raising interest rates. The Fed will conclude its two-day policy meeting later on Wednesday, and central bank Chair Jerome Powell is set to speak at a press conference.
U.S. stocks fell on Tuesday as some large tech stocks moved lower and new inflation data continued to show a sharp rise in producer prices.
China released a slew of key economic data on Wednesday. Its industrial output for November was up 3.8% year-on-year, more than the 3.5% increase in October. Data also showed that retail sales in November rose 3.9% year-on-year, less than October's 4.9% increase.
Meanwhile, Pfizer announced that its drug aimed at treating patients with the virus proved effective in a final analysis, including against the new omicron variant. However, the World Health Organization (WHO) warned on Tuesday that the new variant appeared to be spreading faster than previous versions of the virus.
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