MARKETS: Sensex, Nifty volatile; FMCG, pharma rally, banks fall
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Opening Bell
“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.
Global cues
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