BENCHMARKS TRADE WITH DECENT GAINS; BAJAJ HOUSING IPO FULLY SUBSCRIBED

The headline equity indices traded with moderate gains in mid-afternoon trade. The Nifty traded above the 24,850 mark after hitting the day`s low of 24,753.15 in early trade. Private bank shares advanced after declining in the previous trading session.

At 13:30 IST, the barometer index, the S&P BSE Sensex rose 167.13 points or 0.20% to 81,344.18. The Nifty 50 index added 24.20 points or 0.10% to 24,876.35.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.65% and the S&P BSE Small-Cap index declined 0.98%.

The market breadth was weak. On the BSE, 1,439 shares rose and 2,555 shares fell. A total of 144 shares were unchanged.

IPO Update :

The initial public offer (IPO) of Kross received 87,60,228 bids for shares as against 1,53,50,877 shares on offer, according to stock exchange data at 14:25 IST on Monday (09 September 2024). The issue was subscribed 0.57 times.

The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 228 to Rs 240 per share. An investor can bid for a minimum of 62 equity shares and in multiples thereof.

The initial public offer (IPO) of Tolins Tyres received 88,89,738 bids for shares as against 74,88,372 shares on offer, according to stock exchange data at 14:25 IST on Monday (9 September 2024). The issue was subscribed 1.19 times.

The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 215 to 226 per share. An investor can bid for a minimum of 66 equity shares and in multiples thereof.

The initial public offer (IPO) of Bajaj Housing Finance received 85,20,25,378 bids for shares as against 72,75,75,756 shares on offer, according to stock exchange data at 14:25 IST on Monday (9 September 2024). The issue was subscribed 1.17 times.

The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 66 to 70 per share. An investor can bid for a minimum of 214 equity shares and in multiples thereof.

The initial public offer (IPO) of Shree Tirupati Balajee Agro Trading Company received 89,39,60,640 bids for shares as against 1,43,08,000 shares on offer, according to stock exchange data at 14:25 IST on Monday (9 September 2024). The issue was subscribed 62.48 times.

The issue opened for bidding on Thursday (5 September 2024) and it will close on Monday (9 September 2024). The price band of the IPO is fixed between Rs 78 to 83 per share. An investor can bid for a minimum of 180 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Private Bank index rose 0.98% to 25,576.60. The index fell 1.54% in the past trading session.

ICICI Bank (up 1.90%), Federal Bank (up 1.11%), Kotak Mahindra Bank (up 1.08%), IndusInd Bank (up 0.90%) and Axis Bank (up 0.63%), IDFC First Bank (up 0.10%), HDFC Bank (up 0.06%) advanced.

On the other hand, RBL Bank (down 1.07%), Bandhan Bank (down 0.63%) and City Union Bank (down 0.53%) edged lower.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper jumped 1.72% to 6.972 as compared with previous close 6.854.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.9575, compared with its close of 83.9525 during the previous trading session.

MCX Gold futures for 4 October 2024 settlement shed 0.12% to Rs 71,338.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.39% to 101.57.

The United States 10-year bond yield gained 1.40% to 3.757.

In the commodities market, Brent crude for November 2024 settlement added 89 cent or 1.25% to $71.95 a barrel.

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