The domestic equity indices ended a volatile session with major gains on Friday. The Nifty index opened lower and dropped to a day's low of 24,180.80 in the mid-morning session. However, as the day progressed, it gradually pared all the losses and made a strong recovery, closing above the 24,750 level. FMCG, consumer durables and private bank shares were in demand. On the other hand, metal, media and realty stocks corrected. As per provisional closing data, the S&P BSE Sensex advanced 843.16 points or 1.04% to 82,133.12. The Nifty 50 index gained 219.60 points or 0.89% to 24,768.30.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.08% and the S&P BSE Small-Cap index lost 0.29%.
The market breadth was negative. On the BSE, 1,833 shares rose and 2,156 shares fell. A total of 116 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 1.04% to 13.05.
IPO Update:
The initial public offer (IPO) of One MobiKwik Systems received bids for 1,15,15,78,382 shares as against 1,18,71,696 shares on offer, according to stock exchange data at 15:24 IST on 13 December 2024. The issue was subscribed to 97 times.
The issue opened for bidding on 11 December 2024 and it will close on 13 December 2024. The price band of the IPO is fixed between Rs 265 and Rs 279 per share. An investor can bid for a minimum of 53 equity shares and in multiples thereof.
The initial public offer (IPO) of Vishal Mega Mart received bids for 15,15,96,13,600 shares as against 75,67,56,757 shares on offer, according to stock exchange data at 15:24 IST on 13 December 2024. The issue was subscribed 20.03 times.
The issue opened for bidding on 11 December 2024 and it will close on 13 December 2024. The price band of the IPO is fixed between Rs 74 and Rs 78 per share. An investor can bid for a minimum of 190 equity shares and in multiples thereof.
The initial public offer (IPO) of Sai Life Sciences received bids for 28,93,22,442 shares as against 3,88,29,848 shares on offer, according to stock exchange data at 15:24 IST on 13 December 2024. The issue was subscribed 7.45 times.
The issue opened for bidding on 11 December 2024 and it will close on 13 December 2024. The price band of the IPO is fixed between Rs 522 and Rs 549 per share. An investor can bid for a minimum of 27 equity shares and in multiples thereof.
The initial public offer (IPO) of Inventurus Knowledge Solutions received bids for 2,44,20,550 shares as against 1,03,66,780 shares on offer, according to stock exchange data at 15:24 IST on 13 December 2024. The issue was subscribed to 2.36 times.
The issue opened for bidding on 12 December 2024 and it will close on 16 December 2024. The price band of the IPO is fixed between Rs 1,265 and Rs 1,329 per share. An investor can bid for a minimum of 11 equity shares and in multiples thereof.
The initial public offer (IPO) of International Gemmological Institute (India) received bids for 75,38,440 shares as against 5,85,60,902 shares on offer, according to stock exchange data at 15:24 IST on 13 December 2024. The issue was subscribed to 0.13 times.
The issue opened for bidding on 13 December 2024 and it will close on 17 December 2024. The price band of the IPO is fixed between Rs 397 and Rs 417 per share. An investor can bid for a minimum of 35 equity shares and in multiples thereof.
Buzzing Index:
The Nifty FMCG index advanced 1.29% to 56,869.40. The index slipped 1.05% in the previous trading session.
ITC (up 2.3%), Hindustan Unilever (up 1.98%), Nestle India (up 1.4%), United Breweries (up 1.35%), Colgate-Palmolive (India) (up 1.09%), Dabur India (up 1.03%), Tata Consumer Products (up 0.98%), Marico (up 0.61%), Britannia Industries (up 0.44%) and Godrej Consumer Products (up 0.08%) advanced.
On the other hand, United Spirits (down 0.83%), Balrampur Chini Mills (down 0.81%) and Radico Khaitan (down 0.34%) edged lower.
Stocks in Spotlight:
Ambuja Cements ended flat was at Rs 572. The company informed that it has successfully commissioned and started power transmission from its 200 MW solar power project in Khavda, Rajasthan.
Tata Motors added 0.55%. The company announced a price increase of up to 2% across its trucks and buses portfolio, effective from 1 January 2025, to offset the rise in input costs.
Hindustan Aeronautics (HAL) rose 0.13%. The copmay informed that it has signed a contract with the Ministry of Defence worth Rs 13,500 crore for the procurement of 12 Su-30 MKI aircraft along with associated equipment.
CRISIL jumped 5.41% after the company's board approved the acquisition of 4.08% stake in Online PSB Loans (OPL) for Rs 33.25 crore on a fully diluted basis.
Ashok Leyland added 0.94%. The company announced that it has received an order worth Rs 345.58 crore from the Tamil Nadu State Transport Corporation (TNSTC) for the supply of 1,475 BSVI Diesel Fuel Type Passenger Bus Chassis.
Siyaram Silk Mills surged 14.53% after the company announced the launch of Cadini Italy Perfumes in India under the Cadini Italy brand.
G R Infraprojects shed 0.78%. The company received a letter of intent for the establishment of a pooling station near Bijapur (Vijayapura) worth Rs 107.7 crore from PFC Consulting under the transmission scheme for integration of Bijapur REZ in Karnataka.
NESCO rose 0.09%. The company announced that it has been declared the highest bidder by National Highways Logistics Management for the Hyderabad-Vishakhapatnam Expressway project, with a bid amounting to Rs 200 crore.
Premier Energies fell 0.88%. The company informed that its wholly owned subsidiary, Premier Energies Global Environment, has approved the establishment of a 1 GW solar photovoltaic TOPCon module manufacturing facility.
Global Markets:
The Dow Jones index futures jumped 103 points, signaling a positive opening for U.S. stocks today.
European stock advanced while Asian equities closed mixed on Friday as investors awaited the upcoming policy meeting of the US Federal Reserve and Bank of England next week.
The European Central Bank lowered its key interest rate by 25 basis points to 3%, marking its fourth and final rate cut of the year.
The Swiss National Bank (SNB) also slashed rates by a larger than anticipated 50 basis points from 1% to 0.5%, while Denmark's central bank announced a 25 basis point reduction.
Britain's economy contracted unexpectedly in October, according to data from the U.K.'s Office for National Statistics. UK's GDP fell by 0.1%, the latest print showed, marking the second consecutive monthly downturn.
China's top leaders have announced plans for further stimulus measures to bolster the country's economy. This decision, made during the annual meeting of the Chinese Communist Party and the cabinet, involves increasing the budget deficit, borrowing more, and lowering interest rates. This aggressive approach is a departure from previous years of weaker growth and declining consumer demand. The government aims to maintain economic growth and stability in employment and prices for the upcoming year.
US stocks closed lower on Thursday as Treasury yields climbed following a hotter-than-expected inflation report. The Dow Jones Industrial Average fell 0.53%, the S&P 500 index lost 0.54%, and the NASDAQ Composite index declined 0.65%.
While US consumer price index data released on Wednesday was largely in line with expectations, producer prices rose more than anticipated in November, increasing 0.4% last month, ahead of the expected 0.2% gain. In the 12 months through November, the PPI shot up 3.0% after increasing 2.6% in October. This suggests underlying inflationary pressures may persist.
Adobe Systems Incorporated stock plummeted over 14% after the software giant issued a disappointing annual sales outlook. The company's recent efforts to incorporate artificial intelligence into its offerings appear to be taking longer than expected to generate significant returns.
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