Barometers hit day's low, Nifty holds 17,400; breadth strong

The domestic equity benchmarks extended losses and hit fresh intraday low in early afternoon trade. At 12:30 IST, the barometer index, the S&P BSE Sensex, dropped 300.86 points or 0.51% at 58,506.27. The Nifty 50 index lost 83.35 points or 0.48% at 17,433.50.

In the broader market, the S&P BSE Mid-Cap index rose 0.01% while the S&P BSE Small-Cap index gained 0.60%.

The market breadth was strong. On the BSE, 1,964 shares rose and 1,207 shares fell. A total of 127 shares were unchanged.

Economy:

Meanwhile, a foreign brokerage firm reportedly expects Indian economy to continue to show positive surprises and record up to 9% growth in the next fiscal. For the current financial year too, the brokerage anticipates growth to be higher than the consensus forecast of 8.4-9.5%, and printing in at around 10.5%, media reports said.

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, declined 2.40% to 16.2025. The Nifty 30 December 2021 futures were trading at 17,481.60, at a premium of 48.10 points as compared with the spot at 17,433.50.

The Nifty option chain for 30 December 2021 expiry showed maximum Call OI of 33.5 lakh contracts at the 18,000 strike price. Maximum Put OI of 50.5 lakh contracts was seen at 17,000 strike price.

Buzzing Index:

The Nifty Media index rose 0.85% to 2,433.80. The index jumped 8.62% in four trading sessions.

Network18 Media & Investments (up 8.28%), TV18 Broadcast (up 5.94%), Dish TV India (up 4.81%), Hathway Cable & Datacom (up 2.91%) and Saregama India (up 0.41%) were the top gainers in the Media segment.

IPO Updates:

The initial public offer (IPO) of Metro Brands received bids for over 26.80 lakh shares as against 1.91 crore shares on offer, according to stock exchange data at 12:24 IST on Friday (10 December 2021). The issue was subscribed 0.14 times.

The issue opened for bidding today, 10 December 2021 and it will close on 14 December 2021. The price band of the IPO is fixed at Rs 485-500. An investor can bid for a minimum of 30 equity shares and in multiples thereof. The Initial Public Offer of (IPO) Equity shares comprising of fresh issue of Rs 295 crore and an offer for sale of upto 2,14,50,100 equity shares (including anchor portion of 82,05,030 equity shares).

The IPO of Shriram Properties received bids for over 5.86 crore shares as against 2.93 crore shares on offer, according to stock exchange data at 12:26 IST on Friday (10 December 2021). The issue was subscribed 2 times.

The issue opened for bidding on Wednesday, 8 December 2021 and it will close today, 10 December 2021. The price band of the IPO is fixed at Rs 113-118. An investor can bid for a minimum of 125 equity shares and in multiples thereof. The offer comprises of the fresh issue of upto Rs 250 crore and offer for sale of upto Rs 350 crore.

The IPO of C.E. Info Systems (MapMyIndia) received bids for over 2.07 crore shares as against 70.44 lakh shares on offer, according to stock exchange data at 12:24 IST on Friday (10 December 2021). The issue was subscribed 2.95 times.

The issue opened for bidding on Thursday, 9 December 2021 and it will close on 13 December 2021. The price band of the IPO is fixed at Rs 1,000-1,033. An investor can bid for a minimum of 14 equity shares and in multiples thereof. The initial public offer stands up to 1,00,63,945 equity shares (including anchor portion of 30,19,183 equity shares).

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