Sensex, Nifty trade with tiny cuts

The key equity barometers continued to trade with small losses in mid-morning trade. The Nifty traded below the 21,400 level. FMCG, consumer durables and oil & gas shares advanced while IT, media and metal stocks declined.

At 11:30 IST, the barometer index, the S&P BSE Sensex, was down 34.13 points or 0.05% to 71,280.96. The Nifty 50 index lost 21.20 points or 0.10% to 21,397.45.

In the broader market, the S&P BSE Mid-Cap index slipped 0.27% and the S&P BSE Small-Cap index rose 0.17%.

The market breadth was strong. On the BSE, 1,826 shares rose and 1,745 shares fell. A total of 161 shares were unchanged.

IPO Updates:

The initial public offer (IPO) of Happy Forgings received bids for 32,33,179 shares as against 83,65,639 shares on offer, according to stock exchange data at 11:15 IST on Tuesday (19 December 2023). The issue was subscribed 0.39 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 initial public offer (IPO) of Credo Brands Marketing (MUFTI) received bids for 53,95,453 shares as against 1,37,44,472 shares on offer, according to stock exchange data at 11:18 IST on Tuesday (19 December 2023). The issue was subscribed 0.39 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 initial public offer (IPO) of RBZ Jewellers received bids for 53,06,400 shares as against 79,00,000 shares on offer, according to stock exchange data at 11:18 IST on Tuesday (19 December 2023). The issue was subscribed 0.67 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.

The initial public offer (IPO) of Motisons Jewellers received bids for 51,12,45,750 shares as against 2,08,71,000 shares on offer, according to stock exchange data at 11:21 IST on Tuesday (19 December 2023). The issue was subscribed 24.50 times.

The issue opened for bidding on Monday (18 December 2023) and it will close on Wednesday (20 December 2023). The price band of the IPO is fixed at Rs 52-55 per share. An investor can bid for a minimum of 250 equity shares and in multiples thereof.

The IPO of Suraj Estate Developers received bids for 96,18,641 shares as against 82,35,293 shares on offer, according to stock exchange data at 11:24 IST on Tuesday (19 December 2023). The issue was subscribed 1.17 times.

The issue opened for bidding on Monday (18 December 2023) and it will close on Wednesday (20 December 2023). The price band of the IPO is fixed at Rs 340-360 per share. An investor can bid for a minimum of 41 equity shares and in multiples thereof.

The IPO of Muthoot Microfin received bids for 3,42,03,609 shares as against 2,43,87,447 shares on offer, according to stock exchange data at 11:24 IST on Tuesday (19 December 2023). The issue was subscribed 1.40 times.

The issue opened for bidding on Monday (18 December 2023) and it will close on Wednesday (20 December 2023). The price band of the IPO is fixed at Rs 277-291 per share. An investor can bid for a minimum of 51 equity shares and in multiples thereof.

Stocks in Spotlight:

KPI Green Energy slipped 3.51%. The firm said that its board has approved the opening of qualified institutional placement (QIP) of equity shares with the floor price of Rs 1,245 per share, which is at a discount of 9.78% to the previous day`s closing price of Rs 1,379.90 on the BSE. The firm said that its board will meet on Thursday, 21 December 2023 to consider and determine the issue price to equity shares to be issued pursuant to the QIP.

Vedanta rose 0.73%. The diversified minerals company on Monday announced that its board has approved the second interim dividend of Rs 11 per equity share. The dividend will lead to a total payout of Rs 4,089 crore to shareholders.

Kaynes Technology India jumped 4.55% after the company announced that its board approved the opening of qualified institutional placement (QIP) of equity shares with the floor price of Rs 2,449.96 per share.

Global Markets:

Asian stocks traded mixed on Tuesday as investors assessed the Bank of Japan�s final rate decision for 2023. The BOJ made no change to its negative interest rate policy, holding the benchmark interest rate at -0.1%. The central bank also kept its stance on its yield curve control policy unchanged.

US stocks ended higher on Monday as market participants parsed mounting expectations of interest rate cuts from the Federal Reserve in the coming year and looked ahead to a week of crucial economic data. A broad but modest rally boosted the S&P 500 and the Nasdaq to solid gains, while the Dow ended flat.

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