Sensex climbs 854 pts, Nifty above 16,850

The main indices were hovering near the day's high with strong gains in mid morning trade. The Nifty was trading above the 16,850 level. All sectoral indices on the NSE were in the green. Metal, media and realty stocks were in demand. Positive Asian stocks boosted sentiment.

At 11:31 IST, the barometer index, the S&P BSE Sensex, was up 854.76 points or 1.53% to 56,676.61. The Nifty 50 index added 263.65 points or 1.59% to 16,877.55.

In the broader market, the S&P BSE Mid-Cap index surged 1.77% while the S&P BSE Small-Cap index added 1.95%.

The market breadth was strong. On the BSE, 2,439 shares rose and 724 shares fell. A total of 109 shares were unchanged.

Primary Market:

The initial public offer (IPO) of CMS Info Systems received bids for over 69.14 lakh shares as against 3.75 crore shares on offer, according to stock exchange data at 11:18 IST on Tuesday, (21 December 2021). The issue was subscribed 18%.

The issue opened for bidding on 21 December 2021 and it will close on 23 December 2021. The price band of the IPO is fixed at Rs 205-216. An investor can bid for a minimum of 69 equity shares and in multiples thereof. The IPO consists entirely of an offer of sale (OFS) comprising raising of Rs 1,100 crore.

Buzzing Index:

The Nifty Realty index jumped 2.54% to 464.15. The index lost 13% in the past six days.

Indiabulls Real Estate (up 5.76%), Macrotech Developers (up 5.05%), Brigade Enterprises (up 4.35%), Oberoi Realty (up 3.44%) and DLF (up 2.65%) were the top gainers. Among the other gainers were Prestige Estates Projects (up 2.2%), Sunteck Realty (up 2.07%), Sobha (up 1.95%), Godrej Properties (up 1.65%) advanced.

Stocks in Spotlight:

Piramal Enterprises advanced 3.04% to Rs 2527.90 after Piramal Pharma (PPL) announced an investment of Rs 101.77 crore in Yapan Bio (Hyderabad), a CDMO providing expertise in biologics and vaccines. The investment would aid in augmenting the capabilities of PPL's contract development and manufacturing organization (CDMO) business, Piramal Pharma Solutions (PPS). PPL holds 27.78% equity stake in Yapan Bio as a result of this investment.

Strides Pharma Science rose 2.29% to Rs 421.35 after the company said that Stelis Biopharma has commissioned its large-scale fully integrated vaccine manufacturing facility at Bengaluru, India. The facility was successfully inspected by the Central Drugs Standard Control Organization (CDSCO). Stelis has also received an initial Export No Objection Certificate (NOC) from CDSCO to export up to 50 million doses of the Sputnik Light vaccine.

Global Markets:

Asian markets were trading higher on Tuesday as investors continued to monitor the situation surrounding the omicron Covid variant.

U.S. stocks ended lower on Monday as investors grappled with the resurgence of Covid cases spurred from the newfound omicron variant.

The omicron variant is raging across to the world as the winter holiday season approaches. U.S. cases are jumping into year-end with more than 156,000 reported on Friday, according to data from the Centers for Disease Control and Prevention.

The strain has been found through testing in 43 out of 50 U.S. states and around 90 countries, and the number of cases is doubling in 1.5 to 3 days in areas with community transmission, according to the World Health Organization.

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