Benchmark indices continued trading with modest losses in early afternoon trade. At 12:20 IST, the barometer index, the S&P BSE Sensex, Was down 131.65 points or 0.29% at 44,523.79. The Nifty 50 index slipped 21.80 points or 0.17% at 13,087.25.
In the broader market, the S&P BSE Mid-Cap index rose 0.48% while the S&P BSE Small-Cap index gained 0.60%.
The market breadth was strong. On the BSE, 1,619 shares rose and 1,053 shares fell. A total of 168 shares were unchanged.
Gross revenues from the Goods and Services Tax (GST) crossed the Rs 1 lakh crore mark for the second month in a row, with Rs 1,04,963 crore collected in November 2020. This was 1.4% higher than a year ago but a tad lower than October's collections.
Burger King India IPO Update:
The initial public offer (IPO) of Burger King India received bids for 8.12 crore shares on Wednesday, 2 December 2020, as against 7.44 crore shares on offer, as per the National Stock Exchange of India (NSE) website data at 12:00 IST. The issue was subscribed 1.09 times.
The issue opened for subscription today (2 December) and it will close on Friday, 4 December 2020. The price band for the IPO is set at Rs 59-60 per share. An investor can bid for a minimum lot of 250 equity shares and in multiples thereof.
The IPO consists of fresh issue of shares amounting to Rs 450 crore and an offer of sale of 6 crore shares by the promoter selling shareholder, QSR Asia. The net proceeds from the fresh issue are proposed to be utilised in funding roll out of new company-owned Burger King restaurants; and general corporate purposes.
Total COVID-19 confirmed cases worldwide stood at 6,38,39,023 with 14,80,001 deaths. India reported 4,28,644 active cases of COVID-19 infection and 1,38,122 deaths while 89,32,647 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 0.92% to 19.995. The Nifty December 2020 futures were trading at 13,115.65, at a premium of 39.80 points compared with the spot at 13,075.85.
The Nifty option chain for 31 December 2020 expiry showed maximum Call OI of 28.47 lakh contracts at the 13,000 strike price. Maximum Put OI of 29.36 lakh contracts was seen at 12,000 strike price.
The Nifty Metal index advanced 2.56% to 3,050.15. The index added 8.29% in four sessions.
Hindustan Copper (up 6.34%), NALCO (up 5.41%), Jindal Steel & Power (up 4.84%), MOIL (up 4.54%) and NMDC (up 4.48%) advanced.
Stocks in Spotlight:
Tata Coffee rose 1.89%. On Tuesday (1 December 2020), F Born AG sold 22,21,734 equity shares (1.19% equity) of Tata Coffee at Rs 105.16 per share via bulk deal on the NSE.
Praj Industries gained 0.54%. On Tuesday (1 December 2020), Tata Capital Financial Services sold 11,64,614 equity shares (0.63% equity) of Praj Industries at Rs 91.16 per share via bulk deal on the NSE.
Alembic Pharmaceuticals rose 0.69%. Its associate company, Rhizen Pharmaceuticals, received US drug regulator's approval to study its oral DHODH inhibitor for SARS-CoV-2 infection. Alembic Pharmaceuticals through its wholly owned subsidiary holds 50% ownership in Rhizen.
NCC advanced 2.91% after the company said it received four new orders totaling Rs 3,905 crore in November 2020. One order of Rs 848 crore pertains to water division and balance three orders totaling to Rs 3,057 crore pertain to building division, the company said in a statement on Wednesday.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)