Barometers pare all gains; Realty shares rises

The domestic equity indices pared all gains and traded near the flat line with some negative bias in mid-morning trade. The Nifty traded below 21,950 mark after hitting day�s high of 22,053.30 in early trade. Realty shares witnessed buying demand for the fourth consecutive trading sessions.

At 11:26 IST, the barometer index, the S&P BSE Sensex, shed 25.09 points or 0.03% to 71,161. The Nifty 50 index declined 2.80 points or 0.01% to 21,926.60.

In the broader market, the S&P BSE Mid-Cap index rose 0.22% and the S&P BSE Small-Cap index gained 0.45%.

The market breadth was positive. On the BSE, 2,227 shares rose and 1,504 shares fell. A total of 128 shares were unchanged.

IPO Update:

The initial public offer (IPO) of Capital Small Finance Bank received bids for 11,07,552 shares as against 81,47,373 shares on offer, according to stock exchange data at 11:30 IST on Tuesday (06 February 2024). The issue was subscribed 0.14 times.

The issue opened for bidding on Wednesday (7 February 2024) and it will close on Friday (9 February 2024). The price band of the IPO is fixed at Rs 445-468 per share. An investor can bid for a minimum of 32 equity shares and in multiples thereof.

The IPO of Jana Small Finance Bank received bids for 25,79,472 shares as against 1,01,16,284 shares on offer, according to stock exchange data at 11:30 IST on Tuesday (06 February 2024). The issue was subscribed 0.25 times.

The issue opened for bidding on Wednesday (7 February 2024) and it will close on Friday (9 February 2024). The price band of the IPO is fixed at Rs 393-414 per share. An investor can bid for a minimum of 36 equity shares and in multiples thereof.

The IPO of Rashi Peripherals received bids for 32,45,520 shares as against 1,42,37,289 shares on offer, according to stock exchange data at 11:30 IST on Tuesday (06 February 2024). The issue was subscribed 3.45 times.

The issue opened for bidding on Wednesday (7 February 2024) and it will close on Friday (9 February 2024). The price band of the IPO is fixed at Rs 295-311 per share. An investor can bid for a minimum of 48 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Realty index advanced 2.05% to 884.05. The index gained 4.23% in the four trading sessions.

DLF (up 4.56%), Sobha (up 2.74%), Brigade Enterprises (up 2.22%), Prestige Estates Projects (up 1.92%), Macrotech Developers (up 1.65%), Phoenix Mills (up 1.46%), Godrej Properties (up 0.85%), Oberoi Realty (up 0.56%) advanced.

Stocks in Spotlight:

Godawari Power & Ispat jumped 7.42% after the company informed about the grant of environment clearance for expansion of iron ore pelletization plant from 2.7 million tonnes capacity (MTPA) to 4.7 MTPA.

Lupin rose 0.27%. The Lupin said that it has received US Food and Drug Administration (USFDA) approval for its abbreviated new drug application for Bromfenac Ophthalmic Solution to market a drug.

Global Markets:

Most of the Asian stocks advanced Wednesday, with the exception of Japan, tracking Wall Street gains as investors assessed corporate earnings from U.S. and Asian firms.

US stocks closed higher on Tuesday, as investors scrutinized a mixed bag of earnings at big U.S. companies and digested comments from Federal Reserve policy makers for clues about its first planned interest-rate cut.

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