Except for Nifty PSU Bank index, all the Nifty sectoral indices were trading with gains, led by Nifty Metal and Nifty Auto indicesShare Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading at record highs on Wednesday. BSE Sensex jumped 300 points to trade at 46,563, while the broader Nifty 50 index gained 65 points to rule at 13,654 to scale new record highs. Out of 30 Sensex stocks, 28 stocks were trading in the green. M&M, ONGC, Bajaj Finance, Asian Paints, Bajaj Finsv, Tata Steel, HDFC and HDFC Bank were among top gainers. HCL Technologies was the top Sensex laggard, down 0.3 per cent, followed by Bharti Airtel, Hindustan Unilever Ltd (HUL). Except for Nifty PSU Bank index, all the Nifty sectoral indices were trading with gains, led by Nifty Metal and Nifty Auto indices.
On the first day of the three-day subscription window, Mrs Bectors Food Specialities IPO was subscribed nearly 4 times. After Burger King India, this is the second Initial Public Offer (IPO) this month to have received oversubscription in a few hours of opening for public subscription. Mrs Bectors Foods IPO received bids for 4.92 crore shares as against 1.32 crore shares on offer, according to data available with the NSE.
Highlights
Punjab National Bank share price tanked 7 per cent today after the PSU lender launched its QIP worth Rs 7,000 crore at a floor price of Rs 37.35 per share.
Check live prices: Punjab National Bank
HCL Technologies was the top Sensex laggard, down 0.3 per cent, followed by Bharti Airtel, Hindustan Unilever Ltd (HUL).
Out of 30 Sensex stocks, 28 stocks were trading in the green. M&M, ONGC, Bajaj Finance, Asian Paints, Bajaj Finsv, Tata Steel, HDFC and HDFC Bank were among top gainers.
Mahindra & Mahindra was the top Sensex gainer a day after the company announced that effective January 1, 2021, the company will increase the price of its range of passenger and commercial vehicles, across models.
Check live prices: Mahindra & Mahindra
BSE Sensex jumped 300 points to trade at 46,563, while the broader Nifty 50 index gained 65 points to rule at 13,654 to scale new record highs on Wednesday.
Check live Sensex, Nifty levels
A meeting of the Board of Directors of the Company will be held on Tuesday and Wednesday, January 12 and 13, 2021 inter alia to approve and take on record the audited consolidated financial results of the Company and its subsidiaries as per Indian Accounting Standards (INDAS) for the quarter and nine months ending December 31, 2020; and approve and take on record the audited standalone financial results of the Company as per INDAS for the quarter and nine months ending December 31, 2020. (BSE filing)
BSE Sensex jumped 308 points to trade at 46,571 to scale new record high in pre-opening session on Wednesday
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COMEX gold trades higher near $1860/oz after a 1.3% gain yesterday. Supporting gold price is US policymakers efforts to finalize a stimulus deal, hopes of loose monetary policy stance of central banks, Brexit uncertainty and rising virus cases. However, weighing on price is continuing ETF outflows and progress on the vaccine front. Gold has bounced back from recent lows but a sharp rise is unlikely unless US stimulus deal is finalized or unless we see pick up in ETF buying: Ravindra Rao, VP- Head Commodity Research at Kotak Securities
MSCI Inc said on Tuesday it will delete the securities of 7 Chinese companies from some global indexes after the U.S. imposed restrictions on their purchase, even as it said it would also launch new versions of several indexes that retain the same securities. (Reuters)
On Tuesday, foreign institutional investors (FIIs) net bought shares worth Rs 2,484.09 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 2,666.79 crore in the Indian equity market, according to the provisional data available on the NSE.
HDFC: Housing Development Finance Corporation Ltd to raise up to Rs 5,000 crore via February 2022 NCDs at 4.23 per cent per annum coupon rate.Punjab National Bank: PNB has set the floor price for its proposed QIP of Rs 7,000 crore at Rs 37.35 per share.
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International oil prices have started flat this Wednesday morning in Asian trade as investors await inventory data. Official government data is scheduled for tonight. Technically, WTI Crude Oil is trading on a flat note but remained above $47.00 levels which could support further upside rally towards $48.15-$48.60 levels. Support is at $47.30-$46.40 levels. Domestic crude could start flat this Wednesday morning, tracking international prices. Technically, MCX Crude December bounced back from 3430 levels where it ended with more than 1.5% gains. Resistance is at 3515-3560 levels. Support is at 3450-3395 levels: Sriram Iyer, Senior Research Analyst at Reliance Securities
We upgrade our rating on Karur Vysya Bank (KVB) to ‘buy’ on improving visibility on RoA recovery, continuity of strategic initiatives even after management change and favourable risk-reward. We see a retracement of valuation to 1x (~15% lower than 5 year average multiple) on likely ~60bps RoA improvement over FY21E-FY22E to 0.9%.
ICICI Securities
The futures and options segment on Tuesday saw a turnover worth Rs 21.05 lakh crore and the cash market saw a turnover worth Rs 61795.8 crore. This is against the six month average of Rs 21.7 lakh crore in the futures and options segment as well as Rs 59,316 crore in the cash market segment.
Finance minister Nirmala Sitharaman on Tuesday asserted that the Budget for FY22 will be “vibrant” enough to sustain economic revival in the aftermath of Covid-19 disruption. Public capital expenditure will be stepped up and the disinvestment programme will “gain momentum” from now on, she stressed. Emphasis has also been laid on state-run banks raising capital from the market, she added.
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On the first day of the three-day subscription window, Mrs Bectors Food has already been subscribed 3.49 times. Retail investors have bid for their portion 6.44 times while employees of Mrs Bectors have bid for 277% of their portion of the issue. Non-institutional Investors bid for 1.25 times their portion while QIBs were non-existent on the initial day of subscription.
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Indian equities ended flat on Tuesday. The Sensex rose 9.71 points (0.02%) to close at 46263.17, whereas Nifty rose 9.7 points (0.07%) to close at 13,567.85. Even as Asian markets ended in the red, domestic equities held up after the strong opening in the European markets. The Asian markets remained under pressure with bourses in countries such as South Korea, Hong Kong and Taiwan declining between 0.19% and 1%.
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