At 11:29 IST, the barometer index, the S&P BSE Sensex was up 163.07 points or 0.22% to 72,953.20. The Nifty 50 index added 41.90 points or 0.19% to 22,163.95.
In the broader market, The S&P BSE Mid-Cap index rose 0.34% and the S&P BSE Small-Cap index added 0.22%.
The market breadth was positive. On the BSE, 1,860 shares rose and 1,774 shares fell. A total of 148 shares were unchanged.
Economy:
All-India House Price Index (HPI) increased by 3.8% YoY in Q3:2023-24 compared to 3.5% growth in the previous quarter and 2.8% a year ago, the Reserve Bank of India reported Annual HPI growth varied widely across the cities - ranging from a high of 8.4% (Chennai) to a low of 0.6% (Kochi). On a sequential basis, all-India HPI increased by 1.6% in Q3:2023-24; among the ten cities, six (viz., Delhi, Mumbai, Chennai, Bengaluru, Ahmedabad and Kochi) recorded rise in house prices during the latest quarter. The Reserve Bank released its quarterly house price index (HPI)1 (base: 2010-11=100) for Q3:2023-24, based on transaction-level data received from the registration authorities in ten major cities.
IPO Update:
The initial public offer (IPO) of Platinum Industries received bids for 1,85,60,232 shares as against 96,32,988 shares on offer, according to stock exchange data at 11:30 IST on Tuesday (27 February 2024). The issue was subscribed 1.93 times.
The issue opened for bidding on Tuesday (27 February 2024) and it will close on Thursday (29 February 2024). The price band of the IPO is fixed at Rs 162 to 171 per share. An investor can bid for a minimum of 87 equity shares and in multiples thereof.
The initial public offer (IPO) of Exicom Telesystems received bids for 3,52,66,600 shares as against 1,82,23,540 shares on offer, according to stock exchange data at 11:30 IST on Tuesday (27 February 2024). The issue was subscribed 1.94 times.
The issue opened for bidding on Tuesday (27 February 2024) and it will close on Thursday (29 February 2024). The price band of the IPO is fixed at Rs 135 to 142 per share. An investor can bid for a minimum of 100 equity shares and in multiples thereof.
Buzzing Index:
The Nifty Consumer Durables rose 0.74% to 32,030.50. The index shed 0.89% in the past trading session.
Blue Star (up 3.47%), Havells India (up 2.24%), V-Guard Industries (up 1.96%), Crompton Greaves Consumer Electricals (up 1.7%), Titan Company (up 1.12%), Kajaria Ceramics (up 0.68%), Bata India (up 0.54%) and Relaxo Footwears (up 0.1%) advanced.
On the other hand, Whirlpool of India (down 2.45%), Dixon Technologies (India) (down 2.24%) and Orient Electric (down 1%) declined.
Global Markets:
Asian stocks traded mixed on Tuesday as markets await events due later this week for a better gauge of the global interest-rate outlook.
US stocks ended with modest losses on Monday, as the focus shifted after last week's AI-fuelled rally to upcoming economic data that could affect the timing of the Federal Reserve's expected interest rate cut.
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