SENSEX DOWN 311 PTS; NYKAA MAKES STELLAR DEBUT

Equity indices traded with deep losses in morning trade. The Nifty hovered at 17,950 level. Auto and pharma shares bucked wider selling pressure. Negative global cues weighed on the sentiment.

At 10:22 IST, the barometer index, the S&P BSE Sensex, was down 311.13 points or 0.51% to 60,122.54. The Nifty 50 index fell 83.65 points or 0.46% to 17,960.60.

The broader market indices displayed mixed trend. The S&P BSE Mid-Cap index fell 0.24% while the S&P BSE Small-Cap index added 0.41%.

The market breadth was positive. On the BSE, 1767 shares rose and 1211 shares fell. A total of 148 shares were unchanged.

Results Today:

Pidilite Industries (down 1.31%), Zomato (down 1.45%), Affle India (up 1.15%), Berger Paints (up 0.1%), Glenmark Life Sciences (down 0.2%), India Cements (up 0.85%), Bank of Baroda (down 0.56%), Krishna Institute of Medical Sciences (up 0.84%), Mazagon Dock Shipbuilders (up 0.84%), Metropolis Healthcare (down 0.82%), Nuvoco Vistas Corporation (down 1.32%) and Oil India (up 1.28%) will announce quarterly results today.

New Listing:

Shares of FSN E-Commerce Ventures (Nykaa) were currently trading at Rs 2049.40 at 10:17 IST on the BSE, a premium of 82.17% as compared to the issue price of Rs 1125. The scrip was listed at Rs 2001, a premium of 77.87% to the issue price.

The initial public offer (IPO) of Nykaa was subscribed 81.78 times. The retail individual investors category was subscribed 12.24 times. The non institutional investors category was subscribed 112.02 times. The qualified institutional buyers category was subscribed 91.18 times.

The issue opened for bidding on 28 October 2021 and it closed on 1 November 2021. The price band of the IPO was fixed at Rs 1,085-1,125 per share.

Buzzing Index:

The Nifty Bank index declined 304 points or 0.77% to 39,064.75, falling for third trading session. The index has declined 1.29% in three sessions.

IndusInd Bank (down 1.71%), ICICI Bank (down 1.29%), Kotak Mahindra Bank (down 0.78%), SBI (down 0.74%) and HDFC Bank (down 0.73%) were top losers.

Stocks in Spotlight:

Godrej Agrovet fell 1.64% to Rs 620.40 after the company reported 2.9% fall in consolidated net profit to Rs 112.2 crore despite a 24.7% rise in total income to Rs 2,159.7 crore in Q2 FY22 over Q2 FY21. EBITDA improved by 8% to Rs 196.1 crore in Q2 FY22 from Rs 181.5 crore in Q2 FY21. EBITDA margin was 9.1% in Q2 FY22 as against 10.5% in Q2 FY21. Finance costs surged to Rs 15.62 crore in the second quarter from Rs 9.60 crore in the same period last year.

Petronet LNG was up 0.59%. On a consolidated basis, the company`s net profit slipped 11.1% to Rs 817.61 crore on a 73.4% surge in net sales to Rs 10,813.08 crore in Q2 FY22 over Q2 FY21. The board of Petronet LNG declared a special interim dividend of Rs 7 per equity share (of the face value of Rs 10 each) of the company for the FY 2021-22. The record date for the special interim dividend is Friday, 19 November 2021.

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