Market Wrap Podcast, December 9 : All that happened in the markets today

Benchmark indices snapped their 3-day winning run and ended lower on Friday as investors await inflation data in India and the US. Although fag-end buying in banking counters lifted benchmarks off lows.

Domestic retail inflation and wholesale inflation print for November are expected to be released on Monday. In the US, November retail inflation print, which is expected to hit a 40-year high of over 6 per cent, will be released later today.

Against this backdrop, global shares, including India, traded on a cautious note. Japan's Nikkei and South Korea's Kospi slipped 1 per cent and 0.6 per cent, respectively, while the UK's FTSE 100 dipped 0.2 per cent in early trading. 

Back home, the S&P BSE Sensex closed at 58,787 levels, down 20 points. The index had hit a low of 58,415 earlier today. On the NSE, the Nifty50 closed at 17,511 level, down 5 points.

Asian Paints, SBI, M&M, TCS, Bajaj Finserv, and ITC were the top Sensex gainers. On the flipside, Titan, HDFC, Axis Bank, Kotak Bank, and HCL Tech were the top laggards. 

In the broader markets, the BSE MidCap and SmallCap added 0.4 per cent and 0.8 per cent, respectively.

Among notable buzzing stocks from the space, shares of Indian Energy Exchange moved higher by 13 per cent to Rs 304.05 on the BSE intra-day trade ahead of listing of bonus shares. The stock traded higher for the fourth straight day, having rallied 21 per cent during the period. 

Besides, shares of Network18 Media & Entertainment hit an over 11-year high of Rs 102.75 after they rallied 9 per cent on the BSE amid heavy volumes. The stock of the Reliance Group advertising & media company has surged 42 per cent over the past 4 days and hit its highest level since August 2011.

Among sectors, the Nifty PSU Bank index ended 2.6 per cent higher amid reports that the government is looking to list Banking Amendment Bill in the current Parliament session once it receives Cabinet approval. The amendment bill will likely propose to reduce government stake below 50 per cent.

Defensive bets such as IT, Pharma, and FMCG were the only indices in the red. 

Moving on to the primary markets. The Rs 600-crore IPO of Shriram Properties has been subscribed over 3.5 times as at 3:30 PM on the final day of the issue. The portion reserved for retail investors has garnered over 12x bids on offer while the portions of QIB and employees have been subscribed 110 per cent. 

Secondly, MapmyIndia IPO has been subscribed over 4 times so far on the second day of the issue. The offer will close for subscription on Monday.

Lastly, Rakesh Jhunjhunwala-backed Metro Brands' IPO has been subscribed by about 23 per cent so far on the maiden day of the issue.