MARKETS: Sensex, Nifty volatile; FMCG, pharma rally, banks fall


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.


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.


(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.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor


Source link