The benchmark indices traded with deep losses in morning trade, as auto, FMCG and metal stocks dragged. At 10:30 IST, the barometer index, the S&P BSE Sensex, tumbled 533.38 points or 0.92% at 57,367.76. The Nifty 50 index lost 169.35 points or 0.98% at 17,079.05.
In the broader market, the S&P BSE Mid-Cap index fell 1.75% while the S&P BSE Small-Cap index shed 1.61%.
The market breadth was weak. On the BSE, 824 shares rose and 2,237 shares fell. A total of 114 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,468.71 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,533.15 crore in the Indian equity market on 16 December 2021, provisional data showed.
Sebi Framework:
The Securities and Exchange Board of India (Sebi) on Thursday, 16 December 2021 came out with a framework pertaining to cut-off time for generation of last risk parameter file used for collecting margins from commodities traders. The capital markets regulator modified the framework prescribed for enabling verification of upfront collection of margins from clients in commodity derivatives segment. The new framework will be effective from 15 January 2022, it said in a circular.
New Listing:
Shares of Rategain Travel Technologies were currently trading at Rs 373.70 on the BSE, at a discount of 12.07% as against the issue price of Rs 425. The scrip was listed at Rs 364.80, representing a discount of 14.16% to the initial public offer (IPO) price. So far, the scrip has hit a high of 382 and a low of 342.30. Over 2.67 lakh shares of the company have changed hands in the counter till now.
The IPO of Rategain Travel Technologies was subscribed 17.41 times. The issue opened for bidding on 7 December 2021 and it closed on 9 December 2021. The price band of the IPO was fixed at Rs 405-425. The offer comprised of a fresh issue up to Rs 375 crore and an offer for sale of up to 2,26,05,530 equity shares.
Buzzing Index:
The Nifty Auto index declined 2.43% to 10,679.90. The index fell 3.13% in two trading sessions.
Tata Motors (down 3.99%), TVS Motor Company (down 3.24%), Ashok Leyland (down 2.46%), Bosch (down 2.21%) and Maruti Suzuki India (down 2.20%) were the top losers in the Auto segment.
Stocks in Spotlight:
Mazagon Dock Shipbuilders fell 1.34%. The company said that its board will meet on Tuesday, 28 December 2021, to consider declaration of interim dividend for financial year 2021-22. The company has fixed Friday, 7 January 2022, as the record date for the same.
Home First Finance Company India lost 0.49%. The firm, on Friday, announced that it has entered into a strategic co-lending partnership with Union Bank of India for providing home loans to customers at competitive interest rates. The partnership aims at leveraging the strengths of both entities to provide a seamless experience to retail home loan customers in the priority sector. The tie up will also enable the company to expand its product offerings to customers in the geographies it operates, while continuing to leverage its technology led customer-first approach.
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