Nifty Bank fell 0.75 per cent, while Nifty Pharma plunged over 2 per cent.Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading volatile on the first day of the new Samvat 2078. BSE Sensex was hovering above 60,500, while NSE Nifty crossed 17950 level. Maruti Suzuki, Kotak Mahindra Bank, L&T, Bharti Airtel, Housing Development Finance Corporation (HDFC), Titan Company were top index gainers. Stocks such as IndusInd Bank, Asian Paints, M&M, Tata Steel, HCL Tech, Reliance Industries Ltd (RIL), TCS, Infosys top Sensex draggers. Barring Nifty Auto, all the Nifty sectoral indices were trading in the red. Nifty Bank fell 0.75 per cent, while Nifty Pharma plunged over 2 per cent.
Paytm’s Rs 18,300-crore IPO — India’s largest public issue to date — has opened for subscription on Monday, at a price band of Rs 2,080-2,150 per share. Two other — Sapphire Foods India, which operates KFC and Pizza Hut outlets; and Latent View Analytics will also launch their initial share-sales this week.
Highlights
Despite being one of the early entrants in the digital payments & fintech space, Paytm continues to face tremendous pressure from other competitors especially Google pay. From an IPO valuations perspective, Paytm's foray into other verticals like insurance, broking will yield better financial results in the future but current valuations remain very expensive. Investors should book profit on listing & await for dips close to at least 15-20 % to buy at a cheaper price. Pavitraa Shetty, Co-founder & Trainer, Tips2Trades
Zomato, Policybazaar, Nyka and now Paytm has played a vital role in bringing new millenials into the stock market. Paytm is going to open lot of Foreign investments (FDI) in India. This is great for Indian Economy as it is going to set benchmark for new investments. Make no mistake, India is leader in digital payments across the world and Paytm has the biggest market share in it. The digital payment world has moved pretty rapidly. Such has been the impact of Digital payments in India, that other countries (10 - 23 countries) by next year will start accepting payments using UPI. This is going to be fruitful for India Rupee. We feel Paytm is coming at a fair valuation and will see lot of participation from the investors with Nykaa money coming back who didn't get the IPO. Rajesh Singla, Founder & CEO, PreIPO consulting firm Planify Consultancy
Reliance Industries Ltd’s partly paid shares will delist from stock exchanges on Monday, 8 November, with the second and final call of Rs 628.50 per share due later this month. RIL has fixed 10 November as the record day for the final call payment, according to a notification to the exchanges. With this, Mukesh Ambani’s firm will complete the largest rights issue — Rs 53,124 crore — seen by domestic markets to date. RIL partly paid-up shares are trading at Rs 1836.70 per share today, while the fully paid-up shares of the oil-to-telecom conglomerate of Mukesh Ambani are trading at Rs 2469.50 per share.
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Paytm’s Rs 18,300-crore IPO — India’s largest public issue to date — opened for subscription on Monday, at a price band of Rs 2,080-2,150 per share. In the primary market, Paytm shares were seen trading at a premium of Rs 60 per share over the IPO price. Paytm shares were ruling at Rs 2,210 per share, nearly 3 per cent premium, in the grey market, according to the people who deal in unlisted shares of the companies. There are no listed companies in India that engage in a business similar to that of Paytm. The public offer will close for subscription on Wednesday, 10 November 2021. It may be noted that the share allotment is likely to take place on 15 November, and the shares are expected to be listed on 18 November 2021.
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The Index has opened flat and continues to trade in an indecisive mode. The support for this market lies at 17550-17600 and until we do not break that on a closing basis, the trend of the Nifty is positive. On the upside, there is resistance at 17950-18000. We need to get past that for an upside momentum to trigger. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Commodity prices traded mixed with most of the commodities in the non-agro segment traded higher except Crude oil. Bullion prices ended up despite a firm dollar with fall in US bond yields. Crude oil prices traded weak on profit booking and weaker demand from China. Base metals traded up on eased worries over power shortage in China and positive demand prospects from the US.
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Barring Nifty Auto, all the Nifty sectoral indices were trading in the red. Nifty Bank fell 0.75 per cent, while Nifty Pharma plunged over 2 per cent.
Stocks such as IndusInd Bank, Asian Paints, M&M, Tata Steel, HCL Tech, Reliance Industries Ltd (RIL), TCS, Infosys top Sensex draggers
Maruti Suzuki, Kotak Mahindra Bank, L&T, Bharti Airtel, Housing Development Finance Corporation (HDFC), Titan Company were top index gainers
Strong global tailwinds are likely to support markets as trading opens today after the holidays. Fed's decision to begin tapering in November was on expected lines. However, the commentary that reiterated the Fed's view that inflation would be transitory and the inference that tapering is not likely to lead to rate hikes soon, is being interpreted by the markets as a dovish stance. That's why the 10-year bond yield declined to 1.47 % and S&P surged to yet another record high. US unemployment falling to 4.6% is another factor that will support markets since it is a positive for global growth and corporate earnings. Back home, in India, the macros are turning increasingly favourable. Rising tax collections - both direct and indirect - falling NPAs of the banking system, the fuel tax cut that can boost consumption and booming exports are clear positives. However, the concern on market valuations remains. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
BSE Sensex jumped 150 points, while NSE Nifty was ruling above 17950 on the first day of Samvat 2078
The lack of faster retracement on either side signifies prolongation of ongoing consolidation (17600-18200) amid stock-specific action as we do not expect Nifty to breach the October low of 17500. The bouts of secondary correction after a 20% rally is a common phenomenon. In the current scenario, the index is undergoing secondary correction after a 20% rally seen over the past three months (15513-18604) which will make the market healthy.
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Since it was a truncated week on the back of the Diwali festival, markets remained more or less in a range of merely 300 points, where both the support and resistance range played out accurately. Historically it’s observed that markets do not correct during the Diwali week and this is what we witnessed in the last three sessions. But we must accept the fact; markets were a bit tentative in the last couple of sessions.
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BSE Sensex was ruling just above 60,100 levels in the pre-opening session on Monday, the first day of Samvat 2078
Nifty futures were trading 71 points or 0.40 per cent up at 18,011.50 on Singaporean Exchange, suggesting a gap-up opening for BSE Sensex and Nifty 50. Today, all eyes would be on Paytm IPO, which is touted as India’s biggest-ever IPO. Before this, Coal India had the biggest public issue of more than Rs 15,000 crore in October 2010. This week, participants will be closely eyeing macroeconomic data i.e. IIP and CPI inflation of November 12.
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Hectic fundraising through IPOs will continue this week, with three firms — One97 Communications, owner of Paytm; Sapphire Foods India, which operates KFC and Pizza Hut outlets; and Latent View Analytics — are set to launch their initial share-sales to collectively mop up about Rs 21,000 crore. This comes after five companies successfully concluded their public offerings (IPOs) this week. Those five firms are — FSN E-Commerce Ventures, which runs online marketplace for beauty and wellness products Nykaa; Fino Payments Bank; Policybazaar parent entity PB Fintech; decorative aesthetics supplier SJS Enterprises; and microcrystalline cellulose maker Sigachi Industries.
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Asian stock markets were trading lower, while oil prices jumped over one per cent. Japan’s Nikkei traded 0.2 per cent lower while the Topix index was down in red. Australian stocks were also in negative territory, with the S&P/ASX 200 dipping 0.17%
Nifty futures were trading 37 points or 0.21 per cent up at 17977.50 on Singaporean Exchange in early trade on Monday.