Markets closed with modest gains; Sensex climbs 157 points & Nifty finishes at 17,517

Indian equity benchmarks ended higher for the third day in a row on Thursday, December 9, 2021. The rise was supported by buying in FMCG, capital goods and oil & gas stocks.

The markets opened on a positive note today but gave the initial gains in the morning hours remained range-bound across the day amid volatility due to the expiry of weekly index options on the NSE. The Sensex closed above 58,800 while the Nifty settled above the 17,500 level.

The S&P BSE Sensex closed 157.45 points or 0.27 per cent at 58,807.13. The Nifty 50 index added 47.10 points or 0.27 per cent to settle at 17,516.85. However, Nifty Bank declined 202.25 points or 0.54 points to 37,082.45.

Broader indices outperformed the Sensex at the BSE with the S&P BSE MidCap index rising 0.38 per cent and S&P SmallCap adding 0.80 per cent.

The market breadth was strong. On the BSE, 2,111 shares rose and 1,165 shares fell. On the Nifty 50 index at the NSE, 26 shares advanced and 24 shares declined. The top five gainers on Nifty 50 were ITC (up 4.91 per cent), Larsen & Toubro (up 3.01 per cent), Asian Paints (up 2.20 per cent), UPL (up 1.97 per cent) and Britannia (up 1.52 per cent). The top five losers on the index were HDFC Bank (down 1.79 per cent), Titan (down 1.35 per cent), Nestle India (down 1.12 per cent), SBI Life (down 0.99 per cent) and NTPC (down 0.98 per cent).

IPO Update

RateGain Travel IPO: The initial public offering of RateGain Travel Technologies Limited, Noida-based distribution technology and Software-as-a-Service (SaaS) company, closed with a 17.41 times subscription today. The Qualified Institutional Buyers (QIBs) portion was subscribed 8.42 times while Non Institutional Investors (NIIs) and Retail Individual Investors (RIIs) portions were subscribed 42.04 times and 8.08 times respectively. The portion reserved for employees was subscribed 1.37 times.

The SaaS company had fixed a price band of Rs 405-425 per equity share for a public issue worth Rs 1,335.73 crore. The retail investors can place a bid for a lot of 35 Equity Shares and in multiples thereof. The IPO comprises a fresh issue of equity shares aggregating up to Rs 375 crore and an offer-for-sale (OFS) of up to 2.26 crore equity shares by promoters and existing shareholders.

Shriram Properties Limited IPO: The initial public offering of Shriram Properties, a leading real estate developer and part of Shriram Group, was subscribed 1.63 times by 5 pm on Thursday, the second day for bidding. The Qualified Institutional Buyers (QIBs) portion was subscribed 0.12 times while Non Institutional Investors (NIIs) and Retail Individual Investors (RIIs) portions were subscribed 0.18 times and 8.35 times respectively. The portion reserved for employees was subscribed 0.78 times. The three-day issue will conclude on Thursday, December 10, 2021.

The three-day initial share sale will conclude on Friday, December 10, 2021. The price band for the public issue has been fixed at Rs 113-118 per share for its Rs 600-crore initial share sale. The initial public offering comprises a fresh issue of Rs 250 crore and an offer for sale of Rs 350 crore by investors. Investors can bid for a minimum of 125 equity shares and in multiples of 125 equity shares thereafter.

MapmyIndia IPO: The initial public offering (IPO) of C.E. Info Systems Limited, which operates India's leading map and navigation services provider - MapmyIndia, was subscribed 2.02 times on Thursday, the first day for bidding. The Qualified Institutional Buyers (QIBs) portion was subscribed 0.46 times while the Non Institutional Investors (NIIs) and Retail Individual Investors (RIIs) portions were subscribed 1.17 times and 3.28 times respectively. The three-day initial share sale will conclude on Monday, December 13, 2021.

The price band for the public issue has been fixed at Rs 1,000-1,033 per share. The company has plans to raise up to Rs 1,040 crore through an offer for the sale of existing shares. The IPO is entirely an offer for sale of up to 10,063,945 equity shares by existing shareholders, including Qualcomm Asia Pacific Pte Ltd. Investors can bid for a minimum of 14 equity shares and in multiples of 14 equity shares thereafter.