Stock markets rose around 0.90 pct; Sensex climbs 477 points & Nifty to settle above 17,200

Domestic equity benchmarks ended with strong gains on Tuesday, December 28, 2021. Both stocks gained amid positive cues from the global equity markets. The Sensex closed near 57,900 while the Nifty settled above 17,200.

The S&P BSE Sensex rose 477.24 points or 0.83 per cent to 57,897.48. The Nifty 50 index gained 147 points or 0.86 per cent to end at 17,233.25. In the sectoral indices at the NSE, Nifty Bank closed with a gain of 125.90 points or 0.36 per cent at 35,183.80.

In the broader markets at the BSE, the S&P BSE MidCap and S&P BSE SmallCap closed with a gain of 0.95 per cent and 1.43 per cent, respectively.

The market breadth was strong. On the BSE, 2,618 shares rose and 764 shares fell. On the Nifty 50 index at the NSE, 48 shares advanced and two shares declined. The top five gainers on the Nifty index were Sun Pharmaceuticals (up 3.09 per cent), Asian Paints (up 2.83 per cent), Mahindra & Mahindra (up 2.59 per cent), UltraTech Cement (up 2.28 per cent) and NTPC (up 2.26 per cent). The two losers were Power Grid (down 0.34 per cent) and IndusInd Bank (down 0.27 per cent).

Today's Listing of Supriya Lifescience

Supriya Lifescience Listing: The shares of Supriya Lifescience made a stellar debut on the stock market on Tuesday, December 28, 2021. Supriya Lifescience shares were listed at a premium of 55.11 per cent to Rs 425 per share against its issue price of Rs 274 on the BSE on Tuesday. At the close of the session, the stock ended at Rs 390.35 per share on the BSE, a premium of 42.46 per cent against the issue price of Rs 274.

On the NSE, the shares of Supriya Lifescience opened at Rs 421, a gain of Rs 147 or 53.65%. The stock closed at Rs 389.70 on the NSE, a premium of 42.22% against the issue price of Rs 274.

The Rs 700-crore initial public offering (IPO) of Supriya Lifescience Limited was subscribed 71.51 times on the last day of subscription on Monday, December 20, 2021. The Qualified Institutional Buyers (QIBs) portion was subscribed 31.83 times while the Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) portions were subscribed 161.22 times and 56.01 times, respectively. The offer price has been fixed at Rs 265-274 per equity share. The Rs 700-crore issue comprised of a fresh issue of up to Rs 200 crore and an offer for sale (OFS) of up to Rs 500 crore.

Corbevax and Covovax vaccines approved for restricted use on adults

Central Drugs Standard Control Organisation has approved Corbevax vaccine, Covovax vaccine and the anti-viral drug Molnupiravir for restricted use in emergency situations. In a series of tweets, Union Health Minister Mansukh Mandaviya said, Corbevax vaccine is India's first indigenously developed RBD protein sub-unit vaccine against COVID-19, made by Hyderabad-based firm Biological-E. It is the third vaccine developed in India.

The Nanoparticle Vaccine, Covovax, will be manufactured by Pune-based firm Serum Institute of India.

Mr. Mandaviya said, Molnupiravir will now be manufactured in the country by 13 companies for restricted use under emergency situations for the treatment of adult patients with COVID-19 and who have a high risk of progression of the disease.

Economy

Japan's industrial production jumped by a record in November, adding to evidence that a manufacturing recovery from supply chain snags was solidly underway before the omicron variant started to spread around the globe. A bounce back in the auto industry helped production climb 7.2 per cent from October's level, the biggest gain in data going back to 1978, data from the economy ministry showed Tuesday. Analysts had expected a 4.8 per cent increase. Despite last month's surge, production remained below July's level, an indication of how damaging global supply chain blockages have been to Japan's key manufacturing sector. November production was 5.4 per cent above year-earlier levels but still sharply down from a high in April. A ministry official also warned that the omicron variant has added another element of uncertainty to the outlook. The government sees manufacturers trimming output by 1.2 per cent this month, the official said.