Key equity indices continued to trade with decent gains in morning trade. At 10:22 IST, the barometer index, the S&P BSE Sensex, was up 100.16 points or 0.21% to 46,766.62. The Nifty 50 index added 26.75 points or 0.20% at 13,709.45.
Investor sentiment received a boost after the US Federal Reserve strengthened its commitment to supporting the recovery in the world's largest economy, and the U.S. lawmakers continued to make progress in getting a fiscal stimulus deal over the line.
In the broader market, the S&P BSE Mid-Cap index gained 0.51% while the S&P BSE Small-Cap index rose 0.52%.
The market breadth was strong. On the BSE, 1542 shares rose and 950 shares fell. A total of 144 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,981.77 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,718.45 crore in the Indian equity market on 16 December, provisional data showed.
Coronavirus Update:
Total COVID-19 confirmed cases worldwide stood at 74,167,013 with 1,648,091 deaths. India reported 322,366 active cases of COVID-19 infection and 144,451 deaths while 9,489,740 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Primary Market:
The initial public offer (IPO) of Mrs. Bectors Food Specialities received bids for 15.90 crore shares as against 1.32 crore shares on offer on Thursday (17 December 2020), according to the stock exchange data at 10:15 IST. The issue was subscribed 12.01 times.
The issue opened for subscription on Wednesday (15 December 2020) and it will close today (17 December 2020). The price band for the IPO is set at Rs 286-288 per share.
Buzzing Index:
The Nifty Pharma index rose 1.11% to 12,686.15. The index has added 2.04% in two sessions.
In the past one moth, the index has gained 9.24% while the benchmark Nifty 50 index has risen 5.96% during the same period.
Among pharma stocks, Divi's Labs (up 2.47%), Cadila Healthcare (up 1.76%), Dr. Reddy's Labs (up 1.45%), Biocon (up 0.97%), Alkem Laboratories (up 0.83%), Sun Pharma (up 0.78%) and Aurobindo Pharma (up 0.72%) advanced.
Stocks in Spotlight:
Jubilant FoodWorks (JFL) jumped 5.74% to Rs 2828.80. The company said it has forayed into the biryani segment with a new brand 'Ekdum!' as part of its portfolio expansion. Ekdum! will offer a selection of twenty different biryanis curated from various parts of India. It will also offer an extensive range of kebabs, curries, breads, desserts and beverages. Ekdum! starts with three restaurants in Gurgaon for delivery, takeaway and dine-in, with more restaurants planned to open in NCR over the next few months.
Computer Age Management Services (CAMS) rose 0.16% to Rs 1512. CAMS has been considered eligible for selection and further grant of registration as a central record keeping agency under the NPS under the Pension Fund Regulatory and Development Authority (Central Recordkeeping Agency) Regulations, 2015. The selection is subject to certain fulfilment of certain conditions including the de-registration of the company as a Point of Presence under the Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018.
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