MARKETS: Broader indices outshine; Shriram Properties IPO sails through

Markets at 11 AM

LIVE market updates: Frontline indices are exhibiting a range-bound movement and are trading with a negative bias. Here’s a quick level check for primary and secondary markets.

Sensex: 58,478, down 172 points or 0.3 per cent

Nifty: 17,417, down 53 points or 0.3 per cent

BSE MidCap: 25,566, up 0.22 per cent

BSE SmallCap: 28,965, up 0.6 per cent

IPO update

RateGain Travel: 90 per cent

Shriram Properties: 1.13 times

MapmyIndia: 58 per cent

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Markets at 10 AM

LIVE market updates: After starting gap-up, the benchmark indices turned volatile and were near the day’s low level.

The S&P BSE Sensex was at 58,449, down 200 points, levels while the Nifty50 held 17,400-mark. In the broader markets, the BSE SmallCap index was outperforming the mid and large-cap peers, and was up about half a per cent.

Among individual stocks, shares of Devyani International continued their northward journey for the third straight trading day, and were up 8 per cent at Rs 190.20 on the BSE in Thursday’s intra-day trade. READ MORE

Further, Vodafone Idea also soared 12 per cent to Rs 16.4 after the company said its bondholders will receive interest in time on the due date of December 13 as the company managed to raise funds for the repayment.

Sectorally, only the Nifty Pharma and Metal indices were in the green. The Nifty Bank index was the top laggard, down 1 per cent.

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Opening Bell

LIVE market updates: Market bulls roared on Dalal Street for third straight day on Thursday amid across-the-board buying. Besides, a firm global set-up amid encouraging news flow around efficacy of Pfizer’s vaccine against the Omicron variant boosted investor confidence.

The S&P BSE Sensex jumped 224 points, or 0.4 per cent, at 58,874 levels in early deals. The Nifty50, too, added 60 points, or 0.4 per cent, to 17,530-mark.

“Nifty’s momentum would be tested if the 17,600 acts as a stubborn level and forces a swing back to 17430. That said, our downside marker would be placed a bit further away at 17250, until 17780 is achieved. On the F&O front, Nifty weekly contract as highest open interest (OI) at 18000 for Calls and 17000 for Puts, while monthly contracts have highest open interest at 17100 for Calls and 17200 for Puts. Highest new OI addition was seen at 18000 for Calls and 17000 for Puts in weekly and at 18000 for Calls and 17000 for Puts in monthly contracts,” wrote analysts at Geojit Financial Services in their morning note.

Among individual stocks, BPCL, M&M, Ultratech cement, L&T, Infosys, RIL, and ICICI Bank were the outperforming large-caps in the 50-pack index.

Meanwhile, in the broader markets, the BSE MidCap and SmallCap indices gained up to 0.5 per cent. Shares of RailTel advanced 4 per cent on the BSE on new order win from Ircon International. Those of Beardsell were up 3 per cent after the company said its board will meet on December 13 to consider a proposal for rights issue.

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Pre-open session

LIVE market updates:

The S&P BSE Sensex added 189 points to quote at 58,838 in pre-open levels. The Nifty50, on the other hand, was at 17,524, up 55 points.

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(Updated at 8:20 AM)

LIVE market updates: Domestic equities may rally for a third straight session on Thursday amid receeding Omicron concerns and firm global cues.

At 8:15 AM, SGX Nifty was at 17,575 compared with Nifty’s Spot close of 17,470 on Wednesday.

Primary Market

Shriram Properties IPO was subscribed up to 89 per cent at the end of Day 1 of the issue. The retail quota received bids for up to 5 times.

RateGainTravel Technologies IPO was subscribed up to 75 per cent at the end of Day 2 of its issue. The retail portion was subscribed nearly 4 times.

C. E. Info Systems (MapmyIndia) IPO will open for subscription today. The company aims to raise up to Rs 1,040 crore by way of complete Offer for Sale of equity shares in the price band of Rs 1,000 – Rs 1,033.

Global cues

The US stocks edged higher on Wednesday amid encouraging vaccine news flow. According to reports, Pfizer and BioNTech said their three-shot course of the vaccine was able to neutralize the new Omicron variant in a laboratory test and they could deliver an upgraded vaccine in March 2022 if needed. Dow was up 0.1 per cent, while Nasdaq and the S&P 500 index advanced 0.6 per cent and 0.3 per cent, respectively.

Meanwhile, Asian markets too have started trade on a positive note. Hang Seng has rallied over a per cent. Straits Times, Kospi and Taiwan have gained 0.3 per cent to 0.5 per cent each. Shanghai was up 0.2 per cent, while Nikkei had slipped 0.2 per cent.