Markets recovers 0.9 pct; Sensex climbs 497 points & Nifty to trade at 16,771

Benchmark indices ended with strong gains on Tuesday, December 21, 2021, amid bargain hunting after a recent steep fall. The Sensex closed above 58,300 and the Nifty settled above 16,750. The S&P BSE Sensex rose 497 points, or 0.89 per cent, to close at 56,319.01. The Nifty 50 index gained 156.65 points, or 0.94 per cent, to settle at 16,770.85. The Nifty Bank climbed 168 points, or 0.49 per cent to end at 34,607.85. At the indexes in sectoral indices closed in green.

The broader markets at the BSE have outperformed the Sensex with S&P BSE MidCap rising 1.43 per cent and S&P BSE SmallCap gaining 1.29 per cent at the close of the market.

Buyers outnumbered sellers. On the BSE, 2,287 shares rose and 1,031 shares fell. On the Nifty 50 index at the NSE, 39 shares advanced and 11 shares declined. The top five gainers at Nifty were HCL Technologies (up 4.32 per cent), Wipro (up 3.78 per cent), UPL (up 3.62 per cent), Tata Steel (up 3.35 per cent) and Adani Ports (up 3.31 per cent). The top five losers were Power Grid (down 1.74 per cent), Axis Bank (down 1.09 per cent), Bajaj Finance (down 0.71 per cent), Tata Consumer (down 0.65 per cent) and Cipla (down 0.54 per cent).

MapmyIndia Listing + CMS Info Systems IPO

MapmyIndia Listing: Shares of C.E. Info Systems Limited, the operator of India's leading map and navigation services provider - MapmyIndia, made a stellar debut on the stock markets, NSE & BSE, today. The shares of the digital mapping company were listed at Rs 1581 per share on the BSE on Tuesday. This was a gain of Rs 548 or 53.05% against its issue price of Rs 1,033. At the NSE, it was listed at Rs 1,565 per share, a premium of 51.5% over the issue price. At the close of today's session, the shares of CE Info Systems (MapMyIndia) closed at Rs 1,375 per share at NSE, at a premium of 33.11 per cent against the issue price of Rs 1,033. At the BSE, it closed at Rs 1,394.55 per share, at a premium of 35 per cent over the issue price.

The Rs 1,039.6 crore public issue closed with 154.71 times subscription on December 14, 2021. The Qualified Institutional Buyers (QIBs) portion was subscribed 196.36 times, while the Non-Institutional Investors (NII) and Retail Individual Investors (RIIs) portions were subscribed 424.69 times and 15.20 times, respectively. The issue price for the issue is Rs 1,033 per share.

CMS Info Systems IPO: The initial public offering (IPO) of CMS Info Systems Limited, India's largest cash management company in terms of the number of ATM points and retail pick-up points, which opened for subscription today was subscribed 0.40 times by day end. The Non-Institutional Investors (NII) and Retail Individual Investors (RIIs) portions were subscribed 0.01 times and 0.79 times, respectively. Bidding for the CMS Info Systems IPO will end on Thursday, December 23, 2021. The company seeks to raise Rs 1,100 crore from the initial public offer. The shares of the company will be available for bidding in a price band of Rs 205-216 per share. Retail investors can bid for the public offer for a minimum of 69 equity shares, and in multiples thereof up to 13 lots. At the upper end of the price range, one lot is valued at Rs 14,904 and 13 lots worth Rs 1,93,752. The initial share sale of Mumbai-based CMS Info Systems is entirely an offer for sale (OFS) by promoters and existing shareholders.

FPIs pull out Rs 17,500 crore from Indian Capital Markets

Foreign investors pulled out over Rs 17,500 crore from the Indian capital markets so far in December. According to the depositories data, Foreign Portfolio Investors pulled out Rs 13,470 crore from the equities markets, and Rs 4,066 crore from the debt market, resulting in a net withdrawal of Rs 17,536 crore from the Indian capital markets in December.

FPIs had pulled out nearly Rs 2,500 crore in November and nearly Rs 12,700 in October. Prior to that, FPIs had invested Rs 26,517 crore in September and Rs 16,459 crore in August.

Economy

British business confidence began to feel the impact of the Omicron variant of Coronavirus this month, alongside further upward pressure on prices and staffing costs, a survey showed on Tuesday. Lloyds Bank said its monthly business confidence survey, conducted between November 26, 2021, and December 10, 2021, held steady at 40 per cent this month, well above its long-run average of 28 per cent. However, responses weakened in the second week of the survey when the impact of the Omicron variant began to become clearer, with sentiment falling back to 32 per cent, similar to during the spring and summer.

Last week IHS Markit purchasing managers' data showed activity growth fell to a 10-month low this month. "Businesses face into a number of headwinds and challenging trading conditions, including higher interest rates, as we move into 2022, but many remain resilient and hopeful that acute downside risks are not realised," said a senior economist at Lloyds Bank Commercial Banking.

The Bank of England raised its main interest rate to 0.25 per cent from 0.1 per cent last week - despite seeing a short-term hit to growth from Omicron - and its chief economist said further rate rises were likely if price pressures did not ease. Lloyds survey showed 45 per cent of businesses expected to raise prices in December, up from 44 per cent in November.