The benchmark indices extended losses for the fourth trading session on Wednesday. The Nifty held above the 17,200. Barring the Nifty Auto index, all the sectoral indices ended in the red.
As per provisional closing data, the barometer index, the S&P BSE Sensex, dropped 329.06 points or 0.57% at 57,788.03. The Nifty 50 index lost 103.50 points or 0.60% at 17,221.40.
In the broader market, the S&P BSE Mid-Cap index shed 0.59% while the S&P BSE Small-Cap index fell 0.35%.
The market breadth was positive. On the BSE, 1,712 shares rose and 1,620 shares fell. A total of 122 shares were unchanged.
Economy:
Also Read
India's merchandise exports jumped 27.16% to $30.04 billion in November 2021 on the back of good performance by sectors like petroleum products, engineering goods and electronic items, official data showed on Tuesday. The exports stood at $23.62 billion in November 2020. Imports in November 2021 were at $52.94 billion, recording an increase of 56.58% over inbound shipments of $33.81 billion in November 2020.
Primary Market:
The initial public offer (IPO) of MedPlus Health Services received bids for over 48.51 crore shares as against 1.25 crore shares on offer, according to stock exchange data at 15:15 IST on Wednesday (15 December 2021). The issue was subscribed 38.58 times.
The issue opened for bidding on 13 December 2021 and it will close on 15 December 2021. The price band of the IPO is fixed at Rs 780-796. An investor can bid for a minimum of 18 equity shares and in multiples thereof. The IPO of equity shares comprises of a fresh issue upto Rs 600 crore and an offer for sale of up to Rs 798.29 crore (including anchor portion of 52,51,111 equity shares).
The initial public offer (IPO) of Data Patterns (India) received bids for over 4.60 crore shares as against 70.97 lakh shares on offer, according to stock exchange data at 15:18 IST on Wednesday (15 December 2021). The issue was subscribed 6.48 times.
The issue opened for bidding on 14 December 2021 and it will close on 16 December 2021. The price band of the IPO is fixed at Rs 555-585. An investor can bid for a minimum of 25 equity shares and in multiples thereof. The initial public offer comprises of fresh issue component of up to Rs 240 crore and an offer for sale up to 59,52,550 equity shares (including anchor portion of 30,16,533 equity shares).
The initial public offer (IPO) of HP Adhesives received bids for over 73.60 lakh shares as against 25.28 lakh shares on offer, according to stock exchange data at 15:15 IST on Wednesday (15 December 2021). The issue was subscribed 2.91 times.
The issue opened for bidding on 15 December 2021 and it will close on 17 December 2021. The price band of the IPO is fixed at Rs 262-274. An investor can bid for a minimum of 50 equity shares and in multiples thereof. The Initial Public Offer (IPO) comprises up to 45,97,200 equity shares (including anchor portion of 20,68,700 equity shares).
Buzzing Index:
The Nifty Metal index fell 1.13% to 5,602.55. The index rose 0.43% in the past trading session.
Welspun Corp (down 4.96%), Vedanta (down 1.79%), Hindustan Zinc (down 1.76%), JSW Steel (down 1.69%) and Adani Enterprises (down 1.69%) were the top losers in the Metal segment.
Stocks in Spotlight:
ITC fell 1.93%. The cigarette major discussed taxation on cigarette business, demerger plans and the strategy for the FMCG business in its first ever investor meet on 14 December 2021. In the investor meet, ITC's top management stressed that the health ministry makes regular recommendations annually, as it tried to allay concerns about higher taxation on its mainstay cigarettes business. The multi-business conglomerate has not given any concrete plan for demerger and listing of businesses to unlock value at its analyst meet, but did not rule out that those are options for the company.
Larsen & Toubro (L&T) rose 0.55%. The water & effluent treatment business of L&T Construction has secured a repeat order from the State Water & Sanitation Mission (SWSM), Uttar Pradesh to implement rural water supply projects providing Functional House Tap Connections (FHTC). The contract is part of the Jal Jeevan Mission. According Larsen & Toubro (L&T)'s classification, the value of 'large' contracts lies between Rs 2,500 crore to Rs 5,000 crore.
Anupam Rasayan India gained 1.11% after the company received a supply order from Japanese multinational customer. The scope of the order is to supply an existing life science related speciality chemical. The company earlier signed letter of intent for the product with same customer and now it has entered into a long-term contract for next four years. The contract is worth Rs 135 crore.
Ashoka Buildcon added 0.26%. The company said it received letter of award for a construction project in Goa. Ashoka Buildcon said it has received letter of award from the Ministry of Road Transport & Highways (MoRTH) in respect of the project, which entails construction of six lane link road (NH-166S) with paved shoulder configuration to Mopa Airport in Goa on EPC mode.
Advanced Enzyme Technologies advanced 1.79% after the company said that it had entered into a mutually exclusive distribution agreement with Azelis Singapore. The agreement is for the distribution of food enzymes and probiotics for the food & dietary supplement industry in Indonesia, Malaysia, Philippines, Singapore, Thailand & Vietnam.
Global Markets:
The U.S. Congress on Tuesday approved raising the federal government's debt limit by $2.5 trillion, to about $31.4 trillion. The House voted 221-209 to send the measure to President Joe Biden to sign and avert default before the end of the year.
Most European stocks advanced while Asian stocks declined on Wednesday, 15 December 2021, as investor focused on the Federal Reserve's latest monetary policy decision. The Fed will conclude its two-day policy meeting later on Wednesday, and central bank Chair Jerome Powell is set to speak at a press conference.
The U.K. Consumer Price Index rose by 5.1% in the 12 months to November, up from 4.2% in October, the steepest incline for a decade.
China's industrial output for November was up 3.8% year-on-year, more than the 3.5% increase in October. Data also showed that retail sales in November rose 3.9% year-on-year, less than October's 4.9% increase.
Meanwhile, Pfizer announced that its drug aimed at treating patients with the virus proved effective in a final analysis, including against the new omicron variant. However, the World Health Organization (WHO) warned on Tuesday that the new variant appeared to be spreading faster than previous versions of the virus.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
