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Sensex jumps 477 pts, Nifty settles above 17,200

Published on Dec 28, 2021 16:41

The domestic equity benchmarks ended with strong gains on Tuesday, tracking positive global trend. The Nifty settled above the 17200 mark. All the sectoral indices on the NSE ended in green. Autos, consumer durables and oil & gas stocks were in demand.

The barometer index, the S&P BSE Sensex, rose 477.24 points or 0.83% to 57,897.48. The Nifty 50 index gained 147 points or 0.86% to 17,233.25.

Asian Paints (up 2.85%), Larsen & Toubro (up 1.78%), Reliance Industries (up 1.18%), Infosys (up 1.14%) and HDFC Bank (up 0.74%) boosted the indices.

The broader indices outperformed the benchmarks. The BSE Mid-Cap index rose 0.95% and the BSE Small-Cap index gained 1.43%.

The market breadth was strong. On the BSE, 2,618 shares rose and 764 shares fell. A total of 96 shares were unchanged.

Numbers to Watch:

The yield on 10-year benchmark federal paper rose to 6.478% as compared with 6.465% at close in the previous trading session.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 74.6950, compared with its close of 75 during the previous trading session.

MCX Gold futures for 4 February 2022 settlement rose 0.17% to Rs 48,146.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, fell 0.07% to 96.03.

In the commodities market, Brent crude for February 2022 settlement rose 59 cents at $79.19 a barrel. The contract rose $1.75, or 2.28% to settle at $78.60 a barrel in the previous trading session.

Foreign Markets:

Shares in Europe and Asia advanced on Tuesday. Markets in the U.K. and Ireland remain closed on Tuesday.

The US Dow Jones futures were up 80 points, indicating a positive opening the US stock market today.

US stock indexes advanced Monday as markets reopened after the Christmas holiday and investors assessed the spread of the omicron Covid-19 variant. The S&P 500 index ended at a record high.

Buzzing Indian Segment:

The Nifty Consumer Durables index rose 1.38% to 28,441.45.

TTK Prestige (up 3.47%), Orient Electric (up 3.46%), Titan Company (up 2%), Kajaria Ceramics (up 1.66%), Havells India (up 1.62%), Whirlpool India (up 1.58%), Relaxo Footwear (up 1.46%), Voltas (up 1.07%), V-Guard Industries (up 0.92%), Blue Star (up 0.74%), Amber Enterprises India (up 0.53%), Bata India (up 0.49%), Rajesh Exports (up 0.46%) and Crompton Greaves Consumer Electricals (up 0.06%) jumped.

Stocks in Spotlight:

BSE jumped 5.97%. The company said its board will consider bonus share issue on 8 February 2022. The board will also consider the unaudited financial results for the quarter and nine months ended 31 December 2021.

RBL Bank rose 3.37%. The bank announced the signing of the agreement with Bajaj Finance for the extension of the partnership of co-branded credit cards for a period of 5 years to December 2026.

Shyam Metalics and Energy jumped 7.84%. The company announced 20% increase in sponge iron manufacturing capacity, boosting from 1.39 MTPA to 1.67 million tonnes per annum.

Maharashtra Seamless gained 0.5%. The company has bagged Rs 150.70 crore orders from PSU companies for supply of ERW and seamless pipes.

Siemens India added 2.18%. A joint venture between TRIL Urban Transport, a Tata Group company and Siemens Project Ventures GmbH (subsidiary of Siemens Financial Services) under Public Private Partnership Route (PPP) will develop the metro corridor from Hinjewadi to Shivajinagar. The joint venture has formed a special purpose company called Pune IT City Metro Rail. The order size of Siemens is around Rs 900 crore.

Som Distilleries jumped 4.84%. The company`s board has approved a proposal to raise up to Rs 17.50 crore by way of rights issue of equity shares at Rs 35 each. The company will issue 1 rights share for every 13 fully paid-up equity shares held on the record date i.e. 3 January 2022.

Sastasundar Ventures hit an upper circuit limit of 5% at Rs 467.30. As per the bulk deal data on the NSE, Ashish Kacholia acquired 2,25,000 shares, or 0.71% stake, in Sastasundar Ventures at Rs 447 per share. As on September 2021, Kacholia held 1.04% stake in the company.

Inox Wind Energy fell 2.60%. The company`s board has approved raising Rs 90 crore via preferential issue of 10,62,574 convertible warrants at an issue price of Rs 847 each.

Ajanta Pharma advanced 3.83%. The company`s board approved share buyback worth up to Rs 285.60 crore at price of Rs 2550 per share. The record date for the same has been fixed as 14 January 2022.

New Listing:

Shares of Supriya Lifescience closed at Rs 390.35 on the BSE, a premium of 42.46% as against the issue price of Rs 274.

The scrip was listed at Rs 425, representing a premium of 55.11% to the initial public offer (IPO) price.

The scrip has hit a high of Rs 425 and a low of Rs 383.15 in the intraday. Over 14.45 lakh shares of the company changed hands on the counter.

The IPO of Supriya Lifescience was subscribed 71.51 times. The issue opened for bidding on 16 December 2021 and it closed on 20 December 2021. The price band of the IPO was fixed at Rs 265-274 per share.

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