The main indices trimmed losses in afternoon trade. At 13:30 IST, the barometer index, the S&P BSE Sensex, fell 382.8 points or 0.64% at 59,625.28. The Nifty 50 index lost 140.55 points or 0.79% at 17,758.10.
The broader market saw steep selling. The S&P BSE Mid-Cap index declined 1.45% while the S&P BSE Small-Cap index slipped 1.30%.
The market breadth was weak. On the BSE, 900 shares rose and 2,345 shares fell. A total of 128 shares were unchanged.
Shares of Sapphire Foods India were currently trading at Rs 1,245 at 13:10 IST on the BSE, a premium of 5.51% as compared to the issue price of Rs 1180. The scrip was listed at Rs 1311, a premium of 11.1% to the issue price. So far, the scrip has hit a high of 1,383.60 and a low of 1,282.85 in the trading session. Over 2.31 lakh shares of the company changed hands in the counter on the BSE.
The initial public offer (IPO) of Sapphire Foods India received bids for 6,39,45,000 shares as against 96,63,468 shares on offer. The issue was subscribed 6.62 times.
Shares of One 97 Communications (Paytm) were currently trading at Rs 1662.8 at 13:10 IST on the BSE, a discount of 22.66% compared with the IPO price of Rs 2150. The scrip was listed at Rs 1955, a discount of 9.07% to the issue price. So far, the scrip has hit a high of 1961.05 and a low of 1681 in the trading session.
Over 4.01 crore shares of the company changed hands in the counter on the BSE.
The IPO of Paytm was subscribed 1.89 times. The issue opened for bidding on 8 November and it closed on 10 November. The price band of the IPO was fixed at Rs 2080 to Rs 2150 per share.
The initial public offer (IPO) of Go Fashion (India) received bids for over 3.03 crore shares as against 80.79 lakh shares on offer, according to stock exchange data at 13:03 IST on Thursday (18 November 2021). The issue was subscribed 3.76 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.
Stocks in Spotlight:
Vedanta declined 7.65%. The board of Vedanta has decided that the company should undertake a comprehensive review of the corporate structure and evaluate a full range of options and alternatives (including demerger(s), spin-off(s), strategic partnerships etc.) for unlocking value and simplification of corporate structure. The company intends to separate its aluminium, steel, and oil and gas businesses, and publicly list them.
Rajesh Exports fell 3.3%. The company bagged an order worth Rs 782 crore of designer range of jewellery from Germany, expected to be completed by March 2022. The company will be executing the order from its own manufacturing facility. This facility has a processing capacity of 250 tons of jewellery and gold products per annum.
Most Asian markets were trading lower on Thursday, following overnight losses on Wall Street.
The US stock market finished session down on Wednesday as investors opted to lock in gains on concerns about an earlier than expected rate hike by the U. S. Federal Reserve amid high inflation.
The Commerce Department released a report on Wednesday showing an unexpected decrease in new residential construction in the U. S. in the month of October, although the report also showed a bigger than expected spike in building permits.
The report showed housing starts slid by 0.7% to an annual rate of 1.520 million in October after tumbling by 2.7% to a revised rate of 1.530 million in September.
Meanwhile, the Commerce Department said building permits spiked by 4% to an annual rate of 1.650 million in October after plummeting by 7.8% to a revised rate of 1.586 million in September.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)