Market hits day's low; breadth positive

The equity indices reversed trend and hit the day's low in early afternoon trade. The Nifty slipped below the 17,450 mark. Media, FMCG and PSU banks were major drags while IT and metal shares held firm.

At 12:34 IST, the barometer index, the S&P BSE Sensex, declined 243.29 points or 0.41% at 58,543.30. The Nifty 50 index fell 60.55 points or 0.35% to 17,450.25.

The broader market outperformed the main indices. The S&P BSE Mid-Cap index added 0.11% while the S&P BSE Small-Cap index rose 0.57%.

The market breadth was positive. On the BSE, 2,063 shares rose and 1,302 shares fell. A total of 180 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, declined 1.1% to 15.8825. The Nifty 30 December 2021 futures were trading at 17,603.05, at a premium of 51.6 points as compared with the spot at 17,551.45.

The Nifty option chain for 30 December 2021 expiry showed maximum Call OI of 34.5 lakh contracts at the 18,000 strike price. Maximum Put OI of 50.8 lakh contracts was seen at 17,000 strike price.

Buzzing Index:

The Nifty Bank index added 382 points or 1.03% to 37,448. The index has added 1.09% in two days.

Axis Bank (up 3.39%), Bandhan Bank (up 1.77%), AU Small Finance Bank (up 1.15%), ICICI Bank (up 1.11%), RBL Bank (up 1.06%) and IndusInd Bank (up 0.82%) were top gainers in banking space.

Primary Market:

The initial public offer (IPO) of MedPlus Health Services received bids for over 34.96 lakh shares as against 1.25 crore shares on offer, according to stock exchange data at 12:06 IST on Monday (13 December 2021). The issue was subscribed 28%.

The issue opened for bidding on 13 December 2021 and it will close on 15 December 2021. The price band of the IPO is fixed at Rs 780-796. An investor can bid for a minimum of 18 equity shares and in multiples thereof. The IPO of equity shares comprises of a fresh issue upto Rs 600 crore and an offer for sale of up to Rs 798.29 crore (including anchor portion of 52,51,111 equity shares).

The IPO of Metro Brands received bids for over 70.55 lakh shares as against 1.91 crore shares on offer, according to stock exchange data at 12:06 IST on Monday (13 December 2021). The issue was subscribed 37%.

The issue opened for bidding on Friday, 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 C.E. Info Systems (MapMyIndia) received bids for over 12.07 crore shares as against 70.44 lakh shares on offer, according to stock exchange data at 12:06 IST on Monday (13 December 2021). The issue was subscribed 17.14 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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