The benchmark indices were trading in a narrow range with modest gains in early afternoon trade. The Nifty was hovering a tad above 17,400 level.
At 12:20 IST, the barometer index, the S&P BSE Sensex, rose 175.63 points or 0.30% at 58,353.39. The Nifty 50 index gained 53.10 points or 0.31% at 17,408.40.
In the broader market, the S&P BSE Mid-Cap index added 1.16% while the S&P BSE Small-Cap index gained 0.65%.
The market breadth was strong. On the BSE, 1,996 shares rose and 1,054 shares fell. A total of 182 shares were unchanged.
Economy:
India's inflation based on wholesale price index (WPI) rose 11.39% YoY in August 2021 compared with 0.41% in August 2020. The high rate of inflation in August 2021 is primarily due to rise in prices of non-food articles, mineral oils; crude petroleum & natural gas; manufactured products like basic metals; food products; textiles; chemicals and chemical products etc as compared the corresponding month of the previous year.
WPI grew 11.16% in July 2021, while the WPI for June was 12.07%.
Meanwhile, India's Consumer Price Index-based Inflation (CPI) for August 2021 came in at 5.30%, compared with 5.59% in July 2021, as food prices cooled further, especially in the case of vegetable inflation, data released by the National Statistical Office (NSO) showed on 13 September 2021.
New Listings:
Shares of Ami Organics were currently trading at Rs 944.85 apiece at 12:11 on the BSE, at a premium of 54.92% as compared with the IPO price of Rs 610 per share. The scrip was listed at a price of Rs 902 per share, at a premium of 47.87% as compared with issue price. The stock has hit a high of 967.25 and a low of 841.20 so far in the trading session. Over 17.93 lakh shares of the company were traded in the counter till now.
The initial public offer (IPO) of Ami Organics received bids for 42.22 crore shares as against 65.42 lakh shares on offer, according to stock exchange data. The issue was subscribed 64.54 times. The issue opened for bidding on Wednesday (1 September 2021) and closed on Friday (3 September 2021). The price band of the IPO was fixed at Rs 603-610 per share.
Shares of Vijaya Diagnostic Centre were currently trading at Rs 628.80 per share at 12:14 on the BSE, at a premium of 18.41% as compared with the issue price of Rs 531 per share. The scrip was listed at a price of Rs 542.30 apiece, at a premium of 2.13% as compared with issue price. The stock has hit a high of 634.40 and a low of 533.65 so far in the trading session. More than 10.55 lakh shares of the company changed hands in the counter so far.
The initial public offer (IPO) of Vijaya Diagnostic Centre received bids for 11.36 crore shares as against 2.50 crore shares, according to stock exchange data. The issue was subscribed 4.54 times. The issue opened for bidding on Wednesday (1 September 2021) and closed on Friday (3 September 2021). The price band of the IPO was fixed at Rs 522-531 per share.
Coronavirus Update:
Total COVID-19 confirmed cases worldwide stood at 22,52,71,913 with 46,39,667 deaths. India reported 3,62,207 active cases of COVID-19 infection and 4,43,213 deaths while 3,24,84,159 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
In the last 24 hours, India recorded 25,404 new cases. Active cases accounted for 1.09% of total cases. The recovery rate currently stands at 97.58% with 37,127 recoveries in the last 24 hours taking the total recoveries to 3,24,84,159.
Derivatives:
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, declined 2.90% to 13.6175. The Nifty 30 September 2021 futures were trading at 17,421, at a premium of 12.60 points as compared with the spot at 17,408.40.
The Nifty option chain for 30 September 2021 expiry showed maximum Call OI of 17.6 lakh contracts at the 17,500 strike price. Maximum Put OI of 40.4 lakh contracts was seen at 17,000 strike price.
Buzzing Index:
The Nifty Realty index rose 0.74% to 423.40. The index has gained 1.38% in two sessions.
Hemisphere Properties (up 2.95%), Oberoi Realty (up 2%), Sunteck Realty (up 1.80%), DLF (up 1.27%) and Brigade Enterprises (up 1.09%) were the major gainers.
Stocks in Spotlight:
Infosys lost 0.08%. As per a regulatory filing on Monday, the IT major announced that the board will meet on 12 and 13 October to approve and take on record the audited consolidated financial results for the quarter and half year ending 30 September 2021. The firm also said that its board will consider declaration of interim dividend for second quarter ended September 2021 on the same day.
KNR Constructions advanced 2.57% after the company received letter of acceptance (LoA) for a road project in Hyderabad, Telangana. The company is in receipt of letter of acceptance for Hyderabad Growth Corridor (HGCL) for widening of existing service roads in Hyderabad, in the state of Telangana. The contract is worth Rs 312.79 crore. The project is to be completed within a period of 15 months from the date of signing of agreement.
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