Benchmarks trade with small gains, broader mkt outperforms

The key equity barometers traded near the flat line with tiny gains in the mid-morning trade. The Nifty traded above the 21,150 mark after hitting the day�s low of 20,976.80. Oil & gas shares advanced after declining in the past trading session. Trading was volatile due to expiry of weekly index options on the NSE.

At 11:30 IST, the barometer index, the S&P BSE Sensex, was up 18.06 points or 0.03% to 70,524.37 . The Nifty 50 index added 4.50 points or 0.02% to 21,154.65.

The broader market outperformed the headline indices. The S&P BSE Mid-Cap index rose 0.70% and the S&P BSE Small-Cap index gained 0.99%.

The market breadth was strong. On the BSE, 2,363 shares rose and 1,238 shares fell. A total of 140 shares were unchanged.

Buzzing Index:

The Nifty Oil & Gas index added 0.88% to 9,133.60. The index fell 1.89% in the past trading session.

Oil India (up 5.67%), Castrol India (up 2.99%), Mahanagar Gas (up 2.75%), Hindustan Petroleum Corporation (up 1.88%), Indian Oil Corporation (up 1.54%), GAIL (India) (up 1.49%), Aegis Logistics (up 1.43%), Gujarat Gas (up 1.39%), Gujarat State Petronet (up 1.2%) and Petronet LNG (up 1.01%) edged higher.

IPO Updates:

The initial public offer (IPO) of Innova Captab received bids for 32,50,269shares as against 90,78,010shares on offer, according to stock exchange data at 11:39 IST on Thursday (21 December 2023). The issue was subscribed 0.36 times.

The issue opened for bidding on Thursday (21 December 2023) and it will close on Tuesday (26 December 2023). The price band of the IPO is fixed at Rs 426-448 per share. An investor can bid for a minimum of 33 equity shares and in multiples thereof.

The initial public offer (IPO) of Azad Engineering received bids for 5,67,63,000 shares as against 1,01,22,705 shares on offer, according to stock exchange data at 11:36 IST on Thursday (21 December 2023). The issue was subscribed 5.61 times.

The issue opened for bidding on Wednesday (20 December 2023) and it will close on Friday (22 December 2023). The price band of the IPO is fixed at Rs 499-524 per share. An investor can bid for a minimum of 28 equity shares and in multiples thereof.

The IPO of Happy Forgings received bids for 9,53,89,720 shares as against 83,65,639 shares on offer, according to stock exchange data at 11:36 IST on Thursday (21 December 2023). The issue was subscribed 11.40 times.

The issue opened for bidding on Tuesday (19 December 2023) and it will close on Thursday (21 December 2023). The price band of the IPO is fixed at Rs 808-850 per share. An investor can bid for a minimum of 17 equity shares and in multiples thereof.

The IPO of Credo Brands Marketing (MUFTI) received bids for 14,60,90,790 shares as against 1,37,44,472 shares on offer, according to stock exchange data at 11:36 IST on Thursday (21 December 2023). The issue was subscribed 10.63 times.

The issue opened for bidding on Tuesday (19 December 2023) and it will close on Thursday (21 December 2023). The price band of the IPO is fixed at Rs 266-280 per share. An investor can bid for a minimum of 53 equity shares and in multiples thereof.

The IPO of RBZ Jewellers received bids for 7,49,38,950 shares as against 79,00,000 shares on offer, according to stock exchange data at 11:36 IST on Thursday (21 December 2023). The issue was subscribed 9.49 times.

The issue opened for bidding on Tuesday (19 December 2023) and it will close on Thursday (21 December 2023). The price band of the IPO is fixed at Rs 95-100 per share. An investor can bid for a minimum of 150 equity shares and in multiples thereof.

Global Markets:

Most of the Asian stocks were trading lower on Thursday after Wall Street dropped overnight, while investors awaited gross domestic product reading and inflation numbers from the U.S. Investors in Asia will assess producer prices reading from South Korea, as well as Indonesia�s central bank decision on Thursday.

US stocks closed lower on Wednesday after an abrupt mid-afternoon nosedive ended Wall Street`s impressive rally, which had been driven by falling interest rates and the Federal Reserve`s dovish turn.

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