As per provisional closing, the barometer index, the S&P BSE Sensex, rallied 234.12 points or 0.30% to 78,199.11. The Nifty 50 index added 91.85 points or 0.39% to 23,707.90.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.77% and the S&P BSE Small-Cap index advanced 1.74%.
The market breadth was strong. On the BSE, 2,625 shares rose and 1,354 shares fell. A total of 107 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tumbled 6.32% to 14.66.
Buzzing Index:
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The Nifty Oil & Gas index advanced 1.64% to 10,902.80. The index slipped 2.75% in the past trading session.
Aegis Logistics (up 13.9%), Oil & Natural Gas Corporation (up 3.59%), Oil India (up 3.42%), Reliance Industries (up 1.88%), Indraprastha Gas (IGL) (up 1.5%), Indian Oil Corporation (up 1.37%), GAIL (India) (up 0.75%), Petronet LNG (up 0.62%) and Castrol India (up 0.23%) advanced.
On the other hand, Mahanagar Gas (down 2.67%), Bharat Petroleum Corporation (BPCL) (down 0.72%) and Hindustan Petroleum Corporation (down 0.71%) edged lower.
BPCL's board gave in-principle approval for the initial public offering (IPO) of Maharashtra Natural Gas (MNGL) for over Rs 1,000 crore, subject to regulatory and other approvals. MNGL is a joint venture of BPCL, GAIL (India) and IGL.
IPO Update:
The initial public offer (IPO) of Standard Glass Lining Technology received bids for 63,95,29,905 shares as against 2,08,29,567 shares on offer, according to stock exchange data at 15:27 IST on 7 January 2025. The issue was subscribed to 30.70 times.
The issue opened for bidding on 6 January 2025, and it will close on 8 January 2025. The price band of the IPO is fixed between Rs 133 and Rs 140 per share. An investor can bid for a minimum of 107 equity shares and in multiples thereof.
The initial public offer (IPO) of Quadrant Future Tek received bids for 7,25,11,400 shares as against 57,99,999 shares on offer, according to stock exchange data at 15:27 IST on 7 January 2025. The issue was subscribed to 12.50 times.
The issue opened for bidding on 7 January 2025, and it will close on 9 January 2025. The price band of the IPO is fixed between Rs 275 and Rs 290 per share. An investor can bid for a minimum of 50 equity shares and in multiples thereof.
The initial public offer (IPO) of Capital Infra Trust received bids for 1,02,55,650 shares as against 8,83,83,750 shares on offer, according to stock exchange data at 15:31 IST on 7 January 2025. The issue was subscribed to 0.12 times.
The issue opened for bidding on 7 January 2025, and it will close on 9 January 2025. The price band of the IPO is fixed between Rs 99 and Rs 100 per share. An investor can bid for a minimum of 150 equity shares and in multiples thereof.
New Listing:
Shares of Indo Farm Equipment closed at Rs 275.55 on the BSE, representing a premium of 28.16% as compared with the issue price of Rs 215.
The scrip was listed at Rs 258.40, exhibiting a premium of 20.19% to the issue price.
The stock has hit a high of 286.50 and a low of 257.95. On the BSE, over 14.85 lakh shares of the company traded in the counter.
Stocks in Spotlight:
Equinox India Developments hit an upper limit of 20% after the National Company Law Appellate Tribunal (NCLAT) approved the merger with Embassy Group.
One Mobikwik Systems jumped 8.78%. The company reported consolidated net loss of Rs 3.59 crore in Q2 FY25 as compared with net profit of Rs 5.22 crore posted in Q2 FY24.
GM Breweries shed 0.74%.The breweries & distilleries companys net profit declined 2.97% to Rs 21.97 crore in Q3 FY25 as against Rs 22.60 crore posted in the similar quarter previous year.
Shyam Metalics and Energy advanced 2.61% after the company announced that its stainless steel production surged 59% YoY to 7,889 MT in December 2024 as compared with 4,960 MT produced in December 2023.
S H Kelkar & Company tumbled 8.19% after the company said that gross margins were under pressure during the Q3 FY25 quarter, primarily due to supply constraints for strategic raw materials.
Paras Defence and Space Technologies jumped 10% after the company announced the grant of license under the Arms Act, 1959.
Mahindra & Mahindra shed 0.24%.The company said that its total production rose 19.93% to 53,361 units in the month of December 2024 as compared with 44,495 units produced in the same period last year.
Bajaj Finserv shed 0.38%. The company said that its subsidiary, Bajaj Allianz General Insurance Company recorded gross direct premium underwritten for December 2024 of Rs 1,330.9 crore, marking a 6.61% decrease compared to the same period last year (YoY).
Kalyan Jewellers India declined 3%. The company concluded the quarter by recording a consolidated revenue growth of approximately 39% when compared to the same period in the previous financial year.
Zydus Lifesciences rallied 4.34% after the companys wholly-owned subsidiary, Sentynl Therapeutics, and Fortress Biotech received U.S. Food and Drug Administration approval for filing and priority review of new drug application (NDA) for CUTX-101.
Info Edge (India) fell 4.31%.The company announced that its standalone billings jumped 15.84% to Rs 668.3 crore in Q3 FY25 compared with Rs 576.9 crore in Q3 FY24.
Global Markets:
The Dow Jones index futures were up 40 points, signaling a flat-to-positive opening for U.S. stocks today, with focus remaining on key nonfarm payroll data due later in the week.
Most European and Asian stocks advanced, mirroring overnight gains in U.S. technology shares.
The Euro area annual inflation came at 2.4% in December 2024, up from 2.2% in November 2024. Looking at the main components of euro area inflation, services is expected to have the highest annual rate in December (4%, compared with 3.9% in November), followed by food, alcohol & tobacco (2.7%, stable compared with November), non-energy industrial goods (0.5%, compared with 0.6% in November) and energy (0.1%, compared with -2.0% in November).
Regional markets drew positive momentum from a robust Wall Street session, where technology stocks rebounded from a sluggish start to the year. NVIDIA Corporation, an AI leader, surged to a record high ahead of CEO Jensen Huang's keynote address at the Consumer Electronics Show in Las Vegas.
The S&P 500 advanced 0.55% on Monday, while the NASDAQ Composite soared 1.24%. The Dow Jones Industrial Average underperformed, edging down 0.06%. Despite these gains, Wall Street indices remain under pressure due to concerns over a potential slowdown in interest rate cuts in 2025, driven by persistent inflation and a robust labor market.
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