Sensex, Nifty end near the day's low; realty stocks tumble

The domestic equity barometers ended near the day's low on Wednesday, as significant selling in the last hour of trade pushed the benchmarks lower. The Nifty closed below the 17,900 mark. Auto and healthcare stocks bucked the trend. Realty, pharma and oil & gas stocks declined the most.

As per provisional closing data, the barometer index, the S&P BSE Sensex, lost 314.04 points or 0.52% to 60,008.33. The Nifty 50 index fell 100.55 points or 0.56% to 17,898.65.

In the broader market, the S&P BSE Mid-Cap index shed 0.21% while the S&P BSE Small-Cap index gained 0.05%.

The market breadth was negative. On the BSE, 1,492 shares rose and 1,856 shares fell. A total of 116 shares were unchanged.

Primary Market:

The initial public offer (IPO) of Tarsons Products received bids for over 74.22 crore shares as against 1.08 crore shares on offer, according to stock exchange data at 15:24 IST on Wednesday (17 November 2021). The issue was subscribed 68.45 times. The issue opened for bidding on 15 November 2021 and it will close on 17 November 2021. The price band of the IPO is fixed at Rs 635-662.

The IPO of Go Fashion (India) received bids for over 1.03 crore shares as against 1.53 crore shares on offer, according to stock exchange data at 15:24 IST on Wednesday (17 November 2021). The issue was subscribed 1.90 times. The issue opened for bidding on 17 November 2021 and it will close on 22 November 2021. The price band of the IPO is fixed at Rs 655-690.

Buzzing Index:

The Nifty Realty index fell 1.80% to 535.30. The index has declined by 1.93% in two sessions.

Godrej Properties (down 4.30%), Sunteck Realty (down 2.95%), Prestige Estates (down 2.79%), Indiabulls Real Estate (down 1.93%), DLF (down 1.83%) and Oberoi Realty (down 1.31%) declined while Brigade Enterprises (up 1.48%) and The Phoenix Mills (up 1.23%) advanced.

Stocks in Spotlight:

Biocon added 1.73% to Rs 375.80. The company's subsidiary, Biocon Biologics, and Viatris Inc. announced the U.S. launch of interchangeable biosimilars SEMGLEE (insulin glargine-yfgn) injection, a branded product, and Insulin Glargine (insulin glargine-yfgn) injection, an unbranded product.

Ugro Capital hit an upper circuit of 10% at Rs 197.05 after State Bank of India inducted the company as the first co-lending partner for its Sanjeevani program to finance micro, small and medium enterprises (MSME). Through this collaboration, SBI and Ugro Capital aim to disburse upto Rs 500 crore by March 2022. The arrangement will extend credit products under Ugro's Sanjeevani program, offering loans upto Rs 3 crore, at competitive rate of interest.

Home First Finance Company India jumped 8.52% to Rs 799.30. The company said that a meeting of committee of directors of the company is scheduled to be held on 22 November 2021, to consider and approve the issuance of secured, rated, listed, redeemable, taxable, non-convertible debentures on private placement basis, in one or more tranches up to Rs 99 crore.

Tourism Finance Corporation of India rose 1.27% to Rs 67.60. The company said that a meeting of the resource committee of the directors of the company will be held on 22 November 2021, to consider the issuance of non-convertible debentures to be issued on private placement basis.

Grindwell Norton added 1.11% to Rs 1854.45. The company has made an investment of Rs.15 lakh in Cleanwin Energy Three LLP towards power purchase.

TV Today Network rose 0.26% to Rs 403.55. As per the bulk deal data on the BSE, Abakkus Asset Manager bought 8 lakh shares (1.34% equity) at Rs 345 per share on Tuesday, 16 November 2021. On the same day, Steinberg India Emerging Opportunities Fund sold 8 lakh shares (1.34% equity) at Rs 345 per share.

L&T Technology Services (LTTS) jumped 5.78% to Rs 5679.80. The company was selected as an engineering partner by Mavenir and NVIDIA, to accelerate adoption of the industry's first converged AI-on-5G.

Spicejet slipped 1.22% to Rs 77.15. The company has intimated that it entered into a settlement agreement with Boeing wherein Boeing has agreed to provide certain accommodations and settle the outstanding claims related to the grounding of 737 MAX aircraft and its return to service. This settlement agreement would pave the way for the induction of efficient and younger MAX aircraft into Spicejet's fleet and ensure the resumption of new aircraft deliveries from an order of 155 MAX aircraft.

Global markets:

European shares advanced while Asian stocks ended mixed on Wednesday.

Japan's exports snapped seven months of double-digit growth and hit an eight-month low in October due to slowing car shipments, as global supply constraints hit the country's major manufacturers. Exports rose 9.4% year-on-year in October, Ministry of Finance data showed on Wednesday. It followed 13% growth in the prior month and was the weakest expansion since a decline in February. Car shipments fell 36.7%.

U.S. stocks gained on Tuesday after a strong October retail sales report and better-than-expected third-quarter results from Home Depot and Walmart signaled the U.S. consumer is still ramping up spending even in the face of rising prices.

The latest retail sales figures for October showed consumers were increasing their spending, with sales jumping 1.7%. That compares to a 0.8% increase in the prior month. The report showed broad strength in a number of categories from autos to sporting goods. Online sales were up 10.2% from a year ago. The gains came even as consumer prices surged 6.2% year-over-year last month, inflation not seen since the 1990s.

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