Sensex spurts 548 pts, Nifty crosses 17,100 mark on positive Asian signals

The equity benchmarks hit fresh intraday high in afternoon trade. Barring the Nifty Media index, all the sectoral indices on the NSE were in the green. Banks and realty shares were in demand.

At 13:25 IST, the barometer index, the S&P BSE Sensex, jumped 548.03 points or 0.96% at 57,478.59. The Nifty 50 index gained 152.80 points or 0.9% at 17,108.25.

Sentiment got a boost as Asian shares rose across the board. Investors reacted to a study out of South Africa suggesting a reduced risk of hospitalization and severe disease with omicron compared to delta. Meanwhile, the U.S. Centers for Disease Control and Prevention authorized an antiviral Covid pill from Pfizer for people aged 12 and above at risk of severe illness.

In the broader market, the S&P BSE Mid-Cap index rose 1.05% while the S&P BSE Small-Cap index added 0.92%.

The market breadth was strong. On the BSE, 2290 shares rose and 966 shares fell. A total of 127 shares were unchanged.

Power Grid Corporation of India (up 3%), ITC (up 2.81%), Indian Oil Corporation (up 2.43%), Bajaj Finance (up 2.40%) and Axis Bank (up 2.05%) were major index gainers.

Divi`s Laboratories (down 1.18%), UltraTech Cement (down 0.85%), Bharti Airtel (down 0.58%), Eicher Motors (down 0.52%) and Maruti Suzuki India (down 0.45%) were major index losers.

Transformers and Rectifiers (India) rose 6.38%. The company has been awarded orders of transformers for total contract value of Rs 72 crore from Gujarat Energy Transmission Corporation (GETCO). With this order, the company`s order book as on date stands around Rs 816 crore.

New Listing:

Shares of Medplus Health Services were currently trading at Rs 1123.65 on the BSE, a premium of 41.16% as against the issue price of Rs 796.

The scrip was listed at Rs 1015, representing a premium of 27.51% to the initial public offer (IPO) price.

So far, the scrip has hit a high of Rs 1133 and a low of Rs 1015. Over 10.74 lakh shares of the company have changed hands in the counter till now.

The IPO of Medplus Health Services was subscribed 52.59 times. The issue opened for bidding on 13 December 2021 and it closed on 15 December 2021. The price band of the IPO was fixed at Rs 780-796.

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