Markets closed higher for 2nd consecutive session; Sensex gains 777 points & Nifty settles above 17,400

The domestic equity markets closed with a gain of more than a per cent for the second consecutive session on Thursday, December 2, 2021. The S&P BSE Sensex consolidated its gains to close at 58,461.29, climbing 776.50 points or 1.35 per cent. The Nifty 50 index advanced 234.75 points, or 1.37 per cent, to 17,401.65. The Nifty Bank gained 143.35 points, or 0.39 per cent, to 36,508.25.

In the broader markets at the BSE, the S&P BSE MidCap and S&P BSE SmallCap closed 1.01 per cent and 1.12 per cent higher, respectively.

Buyers outnumbered sellers. On the BSE, 2,185 shares rose and 1,065 shares fell. On the Nifty 50 index at the NSE, 47 shares advanced and 3 shares declined. The top five gainers on Nifty were Adani Ports (up 4.53 per cent), Power Grid (up 3.76 per cent), HDFC (up 3.75 per cent), Sun Pharma (up 3.33 per cent) and Grasim (up 3.19 per cent). The top three losers were Cipla (down 0.79 per cent), ICICI Bank (down 0.58 per cent) and Axis Bank (down 0.46 per cent).

IPO Updates

Star Health IPO

The Rs 7,249.18 crore initial public offering of Rakesh Jhunjhunwala-backed Star Health & Allied Insurance Company Limited was subscribed 0.56 times by 5:02 pm at BSE on the third and the last day of subscription. The Qualified Institutional Buyers (QIBs) portion was subscribed 0.84 times while the Non Institutional Investors and Retail Individual Investors (RIIs) portions were subscribed 0.15 times and 0.45 times, respectively. The employee portion was subscribed 0.07 times.

The price band for the initial public offering has been fixed at Rs 870-900 per share. Retail investors can place a bid for a lot of 16 Equity Shares and in multiples thereof. Retail investors can invest a minimum of Rs 14,400 for a single lot, and their maximum investment would be Rs 1,87,200 for 13 lots (208 equity shares). The company is offering a discount of Rs 80 per Equity Share for Eligible Employees Category and the maximum subscription amount for the eligible employee has been fixed up to Rs 5 lakh.

Tega Industries IPO

The Rs 619.23 crore leading polymer-based mill liners producer Tega Industries Limited initial public offering (IPO) was subscribed 5.88 times by the day end on the second day of subscription. The Qualified Institutional Buyers (QIBs) portion was subscribed 3.08 times while the Non Institutional Investors and Retail Individual Investors (RIIs) portions were subscribed 7.42 times and 6.83 times, respectively. The issue will close on Friday, December 3, 2021.

The price band for the initial public offering worth Rs 619.23 crore has been fixed at Rs 443-453 per equity share. Retail investors can place a bid for a lot of 33 equity shares and in multiples thereof for a maximum of 13 lots. Retail investors can invest a minimum of Rs 14,949 for a single lot, and their maximum investment would be Rs 1,94,337 for 13 lots.

Anand Rathi Wealth IPO

The Rs 660 crore initial public offering (IPO) of Anand Rathi Wealth Limited, the wealth management arm of Anand Rathi Financial Services, was subscribed 0.80 times today, the first day for bidding for the issue. The Non Institutional Investors and Retail Individual Investors (RIIs) portions were subscribed 0.82 times and 1.27 times, respectively. The portion reserved for the employees was subscribed 0.40 times. The three-day initial share sale will conclude on Monday, December 6, 2021.

The price band of the issue has been fixed at Rs 530-550 per share. Retail investors can place a bid for a lot of 27 equity shares and in multiples thereof up to Rs 2 lakh. Retail investors can invest a minimum of Rs 14,850 for one lot and a maximum of Rs 1,93,050 for 13 lots. The initial share sale is entirely an offer for sale (OFS) of 1.2 crore equity shares (including Anchor portion of 35,25,000 equity shares) by promoters and existing shareholders.

Economy

India's merchandise exports in November 2021 was $29.88 billion, an increase of 26.49% over $23.62 billion in November 2020 and an increase of 15.93% over $25.77 billion in November 2019. Merchandise exports in April-November 2021 was $262.46 billion, an increase of 50.71% over $174.15 billion in April-November 2020 and an increase of 24.29% over $211.17 billion in April-November 2019.

Meanwhile, merchandise imports in November 2021 stood at $53.15 billion, an increase of 57.18% over $33.81 billion in November 2020 and an increase of 37.96% over $38.52 billion in November 2019. Merchandise imports in. April-November 2020 and an increase of 18.44% over $324.59 billion in April-November 2019. The trade deficit in November 2021 was $23.27 billion, while it was $121.98 billion during April-November 2021.