Sensex rises 95 pts; Nifty nears 17,500 mark

The benchmark indices were trading with decent gains in early afternoon trade. At 12:30 IST, the barometer index, the S&P BSE Sensex, rose 94.73 points or 0.16% at 58,744.41. The Nifty 50 index gained 26.50 points or 0.15% at 17,496.25.

The broader indices outperformed the benchmarks. The S&P BSE Mid-Cap index rose 0.46% while the S&P BSE Small-Cap index gained 0.88%.

The market breadth was strong. On the BSE, 2,089 shares rose and 1,078 shares fell. A total of 127 shares were unchanged.

The underlying investor sentiment, however, continues to remain strong after media reported that the omicron variant of the coronavirus may not disrupt economies as much as feared. A report from Pfizer and BioNTech indicated that a third dose of their COVID-19 vaccine neutralized omicron in laboratory tests, but that a two-dose regimen is less effective.

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, declined 2.63% to 16.81. The Nifty 30 December 2021 futures were trading at 17,532, at a premium of 35.75 points as compared with the spot at 17,496.25.

The Nifty option chain for 30 December 2021 expiry showed maximum Call OI of 33.4 lakh contracts at the 18,000 strike price. Maximum Put OI of 48.8 lakh contracts was seen at 17,000 strike price.

Buzzing Index:

The Nifty Oil & Gas index rose 0.97% to 7,632.50. The index gained 3.67% in three trading sessions.

Adani Total Gas (up 2.37%), Reliance Industries (RIL) (up 1.57%), BPCL (up 1.24%), Gujarat State Petronet (up 0.92%) and Mangalore Refinery & Petrochemicals (up 0.79%) were the top gainers in the Oil & Gas segment.

IPO Updates:

The initial public offer (IPO) of Rategain Travel Technologies received bids for over 1.71 crore shares as against 1.73 crore shares on offer, according to stock exchange data at 12:21 IST on Thursday (9 December 2021). The issue was subscribed 0.99 times.

The issue opened for bidding on Tuesday, 7 December 2021 and it will close today, 9 December 2021. The price band of the IPO is fixed at Rs 405-425. An investor can bid for a minimum of 35 equity shares and in multiples thereof. The offer comprises of a fresh issue up to Rs 375 crore and an offer for sale of up to 2,26,05,530 equity shares.

The IPO of Shriram Properties received bids for over 3.57 crore shares as against 2.93 crore shares on offer, according to stock exchange data at 12:24 IST on Thursday (9 December 2021). The issue was subscribed 1.22 times.

The issue opened for bidding on Wednesday, 8 December 2021 and it will close on 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 61.42 lakh shares as against 70.44 lakh shares on offer, according to stock exchange data at 12:27 IST on Thursday (9 December 2021). The issue was subscribed 0.87 times.

The issue opened for bidding today, 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 issue comprises upto 1,00,63,945 equity shares (including anchor portion of 30,19,183 equity shares).

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