MARKETS: Sensex, Nifty remain volatile; broader indices record consistent gains



Markets at 12:00

Live Market Update: Major benchmarks witnessed jerky movement in a narrow band during late morning trading.

The BSE Sensex lost 96 points to 58,365 and the NSE Nifty lost 17 points to 17,385. Among the larger indices, the BSE Midap was up 0.7 percent, while the Smallcap index gained 1 percent.

The overall spread of the market has also been overwhelmingly positive, with more than two stocks advancing for every stock falling on BSE.

Larsen & Toubro, UltraTech Cement, Tata Steel and IndusInd Bank were the main winners among the Sensex 30, while PowerGrid Corporation, Bharti Airtel, Dr. Reddy’s and Reliance Industries were the main losers.

In the broader market, Unichem Labs grew 15% upon receiving ANDA approval for its aripiprazole tablets USP from the United States Food and Drug Administration (USFDA). READ MORE

In the primary market, Tega Industries’ IPO has been up to 28 times, with retail quota demand at 22 times, and high net worth investors up to 73.6 times. The QIB portion was subscribed 4.2 times.

Anand Rathi Wealth IPO was subscribed 2.1 times at 12:00 p.m. on day 2 of the issue. The retail part was subscribed 3.3 times and asset investors 2.3 times.


Markets at 10 a.m.

LIVE market updates: Frontline indices quickly reversed their gains as heavyweights such as Reliance Industries, Bharti Airtel, HDFC, ITC and Asian Paints posted profits.

After hitting an intraday high of 58.757, BSE Sensex erased its gains and lost 100 points to 58,362. The Nifty50 also gave up 17,400 points and was at 17,373.

Nestlé India (down 2%), Bharti Airtel, Asian Paints, Dr Reddy’s Labs, Maruti Suzuki and RIL were the most affected stocks on Sensex.

Larger markets, however, held gains. The MidCap and SmallCap indices on BSE gained as much as 0.3 percent.

Individually, shares of Indian Exchange Energy (IEX) climbed 10 percent to Rs 267.30 on BSE in intraday trading on Friday, as the stock went ex-date for 2: 1 free shares. READ MORE


Opening bell

Live Market Updates: Equities extended their buying frenzy for a third consecutive session on Friday amid widespread buying. The S&P BSE Sensex rose 253 points, or 0.43%, to 58,714 levels in early trades. The NSE Nifty, meanwhile, was at 17,461, up 60 points.

L&T, BPCL, Axis Bank, Kotak Bank and L&T were the main winners of the 50 pack index, while Nestlé India, Hindalco, Tata Consumer Products, Bajaj Auto and HUL were the main laggards.

In the larger markets, the BSE MidCap and SmallCap indices rose 0.34% and 0.5%, respectively.

At the sector level, with the exception of the Nifty FMCG and Pharma indices, down 0.11% and 0.35% respectively, all the other indices were in the green.


Pre-open session

LIVE Market Updates:

The benchmarks look set to extend their wins to the third straight session. BSE Sensex was up 99 points to 58,560 during the pre-market session. The Nifty50 gained 23 points to 17,425.


(Update at 8:15 am)

LIVE Market Updates: After two days of straight rallies, markets may be looking to take a break on Friday, given the weekend factor and the uncertainty surrounding the Omicron variant.

At 8:10 am, the SGX Nifty was at 17,374, compared to 17,402 for Nifty’s Spot close on Thursday.

Services PMI data, OPEC + meeting results and other global indices will influence indices today.

Primary market activity
Today is the last day of subscription for the IPO of Tega Industries and the second day for the IPO of Anand Rathi Wealth. Both IPOs were fully subscribed on Day 1 of the issue itself.

Global indices

US stocks rallied on Thursday in hopes that Omicron would not seriously affect the economic recovery and the continued decline in jobless claims. The Dow Jones jumped 1.8% and the S&P 500 1.4%, while the Nasdaq gained 0.8%.

Oil prices exhibited high volatility on Thursday and eventually ended higher even as OPEC + stuck to its decision to increase production in January. Brent crude rose 1.2% to $ 69.67 per barrel, and WTI crude rose 1.4% to $ 66.50 per barrel.

However, Asian markets had started trading on a negative note. Hang Seng slipped more than one percent. Nikkei and Kospi lost 0.3% each. Taiwan and Straits Times were slightly in the red, while Shanghai Composite was up 0.3%.



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