Markets close half a pct down; Sensex declines 329 points & Nifty ends at 17,221

The benchmark indices extended losses for the fourth trading session on Wednesday, December 15, 2021. It fell ahead of the outcome of the US Fed policy meeting and amid rising concerns over the Omicron variant of CORONAVIRUS.

The S&P BSE Sensex dropped 329.06 points, or 0.57 per cent, to end at 57,788.03. The NSE Nifty 50 lost 103.50 points, or 0.60 per cent, to close at 17,221.40. The Nifty Bank also declined 104.40 points, or 0.28 per cent, to 36,789.55.

In the broader markets at the BSE, the S&P BSE MidCap fell 0.59 per cent and S&P BSE SmallCap lost 0.35 per cent.

The market breadth was positive. On the BSE, 1,712 shares rose and 1,620 shares fell. On the Nifty 50 index at the NSE, 14 shares advanced and 36 shares declined. The top five gainers on Nifty were Sun Pharma (up 2.77 per cent), Kotak Bank (up 1.45 per cent), Maruti (up 0.91 per cent), Tata Consumer Products (up 0.87 per cent), Mahindra & Mahindra (up 0.85 per cent). The top five losers were Bajaj Finance (down 2.93 per cent), Bajaj Finserv (down 2.53 per cent), Adani Ports (down 2.41 per cent), ITC (down 2.03 per cent) and Power Grid (down 1.93 per cent).

IPO Update: HP Adhesives IPO + Data Patterns IPO + MedPlus Health IPO

HP Adhesives IPO: The initial public offering (IPO) of HP Adhesives Limited, an adhesive and sealants company, which opened today for subscription was subscribed 3.48 times by the day end. The Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) portions were subscribed 0.38 times and 18.57 times, respectively. The three-day issue will close on Friday, December 17, 2021. The company has fixed a price of Rs 262-274 per equity share. The company has plans to raise up to Rs 125.9 crore from the primary market. The maiden issue comprises a fresh issue of 41,40,000 equity shares worth Rs 113.44 crore and an offer for sale (OFS) of 4,57,200 equity shares worth Rs 12.5 crore. A retail investor can place a bid for a minimum of 50 equity shares and in multiples thereof.

Data Patterns IPO: The initial public offering (IPO) of Data Patterns (India) Limited, a vertically integrated defence and aerospace electronics solutions provider, was subscribed 7.68 times on Wednesday, the second day for bidding. The Qualified Institutional Buyers (QIBs) portion was subscribed 0.92 per cent while the Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) portions were subscribed 5.20 times and 12.42 times, respectively. The three-day issue will close on Thursday, December 16, 2021. The company has fixed a price range of Rs 555-585 per equity share for an issue worth Rs 588 crore. The maiden issue comprises a fresh issue component up to Rs 240 crore and an offer for sale (OFS) worth Rs 348 crore. A retail investor can bid for a minimum of 25 equity shares and in multiples thereafter. At the upper end of the price band, one lot is worth Rs 14,625.

MedPlus Health IPO: The initial public offering (IPO) of MedPlus Health Services Limited, a pharmacy retailer, closed today, i.e., on Wednesday, December 15, 2021, with 52.59 times subscription. The Qualified Institutional Buyers (QIBs) was subscribed 111.90 times while the Non-Institutional Investors (NII) and Retail Individual Investors (RIIs) portions were subscribed 85.33 times and 5.24 times, respectively. The portion reserved for employees was subscribed 3.05 times. The company had fixed a price range of Rs 780-796 per equity share as it has plans to raise up to Rs 1,398 crore from the primary market. The pubic issue of the pharmacy retailer consists of the issuance of fresh equity shares worth Rs 600 crore while and an offer for sale (OFS) of equity shares aggregating up to Rs 798 crore by the promoter and existing shareholders. A retail investor can bid for a minimum of 18 equity shares and in multiples thereafter.

Economy

India's merchandise exports jumped 27.16 per cent to $30.04 billion in November 2021 on the back of good performance by sectors like petroleum products, engineering goods and electronic items, official data showed on Tuesday. The exports stood at $23.62 billion in November 2020. Imports in November 2021 were at $52.94 billion, recording an increase of 56.58 per cent over inbound shipments of $33.81 billion in November 2020.

Union Government has invited Expression of Interest for Strategic Disinvestment or Privatisation of Projects and Development India Limited PDIL. In a tweet, Secretary of the Department of Investment and Public Asset Management (DIPAM) Tuhin Kanta Pandey said, the last date for receiving an Expression of Interest is 31st January 2022. For more details, people can visit the website of DIPAM, www.dipam.gov.in.

The US Congress on Tuesday approved raising the federal government's debt limit by $2.5 trillion, to about $31.4 trillion. The House voted 221-209 to send the measure to President Joe Biden to sign and avert default before the end of the year. The Fed will conclude its two-day policy meeting later on Wednesday, and central bank Chair Jerome Powell is set to speak at a press conference.

The U.K. Consumer Price Index rose by 5.1 per cent in the 12 months to November, up from 4.2 per cent in October, the steepest incline for a decade. China's industrial output for November was up 3.8 per cent year-on-year, more than the 3.5 per cent increase in October. Data also showed that retail sales in November rose 3.9 per cent year-on-year, less than October's 4.9 per cent increase. Purchases of new private apartments in Singapore climbed to 1,547 units in November, Urban Redevelopment Authority figures showed on Wednesday.