Equity benchmarks ended flat; Sensex climbs 32 points & Nifty ends at 18,109

Domestic equity benchmarks ended near the flat line, with some positive bias on Monday, November 15, 2021. Both equity indices, Sensex & Nifty 50, gained amid positive global stocks which were trading in a narrow range. The Sensex closed above 60,700 and the Nifty ended above 18,100 level.

The S&P BSE Sensex rose 32.02 points or 0.05 per cent to 60,718.71. The Nifty 50 index gained 6.70 points or 0.04 per cent at 18,109.45. However, the Nifty Bank index fell 31 points or 0.08 per cent to close at 38,702.35.

In the broader markets, S&P BSE MidCap added 0.41 per cent and S&P BSE SmallCap fell 0.19 per cent.

The market breadth was weak. On the BSE, 1306 shares rose and 2110 shares fell. On Nifty 50 index at the NSE, 22 shares advanced and 28 shares declined. The top five gainers on Nifty 50 were Power Grid (up 3.13 per cent), ONGC (up 2.46 per cent), ITC (up 2.25 per cent), Cipla (2.24 per cent) and UPL (up 1.59 per cent). The top five losers were Coal India (down 4.34 per cent), Tata Steel (down 3.32 per cent), Hindalco (down 2.68 per cent), Eicher Motors (down 1.47 per cent) and SBI Life (down 1.46 per cent).

Tarsons Products Ltd IPO: The initial public offering (IPO) of the labware and life science products company Tarsons Products Limited was subscribed 0.1.09 times at the BSE on the first day of bidding. The Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) portions were subscribed 0.174 times and 2.12 times, respectively. The employee portion was subscribed 0.41 times. The initial share sale will close on Wednesday, November 17, 2021. The company has fixed the price band for the offer at Rs 635-662 per equity share for its Rs 1,024-crore initial share sale. The initial public offering comprises of fresh issue of upto Rs 150 crore and an offer for sale of up to 1.32 crore equity shares worth Rs 874 crore by the promoters and an investor.

Update on three listings of Today

Sigachi Industries Limited: Shares of the Hyderabad-based manufacturer of cellulose-based excipient, Sigachi Industries made a bumper listing on the exchanges on Monday. The shares opened at a premium of 250% at NSE at Rs 570 per share against an issue price of Rs 163 per share. At BSE, it opened at a premium of 252.76% at Rs 575 per share against the issue price. The shares of Sigachi Industries were frozen at the upper circuit of 5 per cent of the listing price at Rs 598.50 at the NSE and 603.75 at the BSE.

The Rs 125-crore Initial Public Offering (IPO) of the company was subscribed 102 times. The Qualified Institutional Buyers (QIBs) portion was subscribed 86 times while the Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) portions were subscribed 172 times and 80 times, respectively.

Policy Bazaar: Policy bazaar shares were made a decent debut on the exchanges on Monday. The shares were listed at a premium of over 17.34% on the NSE as well as BSE at Rs 1,150 per share against an issue price of Rs 980 per share. The shares of Policy Bazaar closed 4.49 per cent higher from the listing price at Rs 1,201.60 per share at the NSE while at the BSE, it ended 4.60 per cent above the listing price at 1,202.90.

The Rs 5,625-crore initial public offer of the company, the owner of the online insurance aggregator and fintech Policy Bazaar and Paisa Bazaar, was subscribed 16.59 times. The Qualified Institutional Buyers (QIBs) portion was subscribed 24.89 times, while the Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) portions were subscribed 7.82 times and 3.31 times, respectively.

SJS Enterprises Limited: Stocks of SJS Enterprises IPO made a flat debut on exchanges on Monday. It opened at Rs 542 per share and Rs 540 against the issue price of 542 apiece on NSE and BSE, respectively. Shares of the decorative aesthetics product company SJS Enterprises Limited will debut on the bourses today. The shares of the company closed at a discount of 5.90 per cent from the listing price at Rs 510 per share at the NSE, while at the BSE it fell 5.58 per cent and closed at Rs 509.85 per share.

The Rs 800-crore Initial Public Offering (IPO) of the decorative aesthetics product company SJS Enterprises Limited was subscribed 1.59 times. The Qualified Institutional Buyers (QIBs) portion was subscribed 1.42 times, while the Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) portion were subscribed 2.32 and 1.38 times, respectively. The issue price for the public issue was Rs 542 per share.

Economy

India's inflation based on the wholesale price index (WPI) was at 12.54 per cent in October 2021 compared with 1.31 per cent in October 2020. India's retail inflation rose marginally to 4.48 per cent in October from 4.35 per cent in September, data released by the government showed on Friday.

Further, India's industrial production for September grew 3.1 per cent compared to 1 per cent in the same month last year, according to data released by the Ministry of Statistics and Programme Implementation (MoSPI). IIP surged 11.9 per cent in August.

Data released on Monday showed retail sales in China rose 4.9 per cent year-on-year in October. China's Industrial output for the month also grew 3.5 per cent compared to a year ago. The Japanese economy contracted at an annualised rate of 3 per cent in July-September from the previous quarter, government data showed on Monday, posting the first decline in two quarters as resurgent coronavirus infections hurt consumer spending.