| The domestic equity indices ended with major gains on Friday. The Nifty settled above the 24,100 level. Pharma, media and oil & gas shares advanced while realty and PSU bank shares declined.
As per provisional closing, the S&P BSE Sensex soared 759.05 points or 0.96% to 79,802.79. The Nifty 50 index gained 216.95 points or 0.91% to 24,131.10.
In the broader market, the S&P BSE Mid-Cap index rose 0.31% and the S&P BSE Small-Cap index added 0.76%.
The market breadth was positive. On the BSE, 2,337 shares rose and 1,618 shares fell. A total of 95 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tumbled 5.12% to 14.43.
New Listing
Shares of Enviro Infra Engineers were closed at Rs 207.20 on the BSE, representing a premium of 40% as compared with the issue price of Rs 148.
The scrip was listed at Rs 218, exhibiting a premium of 47.3% to the issue price.
The stock has hit a high of 233.50 and a low of 205.10. On the BSE, over 45.01 lakh shares of the company were traded in the counter.
IPO Update:
The initial public offer (IPO) of Suraksha Diagnostic received bids for 12,96,046 shares as against 1,34,32,533 shares on offer, according to stock exchange data at 15:20 IST on 29 November 2024. The issue was subscribed 0.10 times.
The issue opened for bidding on 29 November 2024, and it will close on 3 December 2024. The price band of the IPO is fixed between Rs 420 and Rs 441 per share. An investor can bid for a minimum of 34 equity shares and in multiples thereof.
Buzzing Index:
The Nifty Pharma index added 2.35% to 22,240.20. The index declined 0.74% in the past three consecutive trading sessions.
Torrent Pharmaceuticals (up 3.94%), Ajanta Pharma (up 3.71%), Divis Laboratories (up 3.66%), Alkem Laboratories (up 3.53%), Cipla (up 3.18%), Natco Pharma (up 3.11%), Laurus Labs (up 3.04%), Sun Pharmaceuticals Industries (up 2.68%), Lupin (up 2.64%), and Glenmark Pharmaceuticals (up 2.35%) added.
Torrent Pharmaceuticals rallied 3.94%. The company informed that it has received a penalty of Rs 2.32 crore by the Income Tax Department under Section 271(1)(c) of the Income Tax Act, 1961, for alleged tax adjustments.
Stocks in Spotlight:
Sigachi Industries surged 6.58% after the company’s subsidiary, Trimax Biosciences, received a communication from the European Directorate for the Quality of Medicines & Health Care (EDQM) for CEP filing of Propafenone Hydrochloride.
Reliance Industries rose 1.57% after the company announced that its step-down wholly owned subsidiary, Reliance Finance and Investments USA LLC, has entered into a stock purchase agreement to acquire a 21% stake in the U.S.-based Wavetech Helium, Inc. for $12 million.
Newgen Software Technologies advanced 4.63% after the company announced that it has received a purchase order worth Rs 32.44 crore from the Reserve Bank of India (RBI).
PC Jeweller hit an upper circuit of 5% after the company’s board fixed the record date as 16 December 2024 for the proposed 1-for-10 stock split.
Nazara Technologies declined 2.04%. The company has informed that NODWIN Gaming, a material subsidiary of the company, has announced the acquisition of Trinity Gaming, a leading gaming agency and platform, MCN/CSP, for a deal valued at Rs 24 crore.
IIFL Finance shed 0.33%. The company’s material subsidiary, IIFL Home Finance, has planned to raise up to Rs 500 crore through non-convertible debentures (NCDs) at a face value of Rs 1,000 each.
NCC added 2.33% after the company received a letter of acceptance (LoA) worth Rs 3,389.49 from Ken-Betwa Link Project Authority for the engineering, procurement, and construction (EPC) execution of Daudhan Dam.
Ashoka Buildcon jumped 4.30% after the company received an engineering, procurement, and construction (EPC) order worth Rs 1,055 crore from Bangalore International Airport.
Global Markets:
The Dow Jones index futures were up 151 points, signaling a strong opening for U.S. stocks today.
European stocks advanced on Friday as investors assessed the latest release of eurozone inflation data. The reading comes ahead of the European Central Bank’s last meeting of the year on 12 December 2024.
Euro zone inflation rose from 2% in October to 2.3% in November, flash data from statistics agency Eurostat showed on Friday, above the European Central Bank’s 2% target.
Separately, France’s harmonized inflation rate came in at 1.7% in November, up slightly from 1.6% in October, according to preliminary data from the National Institute of Statistics and Economic Studies (Insee).
Asian markets declined, led by losses in South Korean stocks after industrial production declined for a second straight month in October.
South Korea’s industrial production growth fell 0.3% in October compared to September, which also saw a 0.3% fall on a month-on-month basis.
Industrial production saw a 2.3% increase year on year in October, marking a reversal from the 1.3% fall in September.
Tokyo's Core CPI inflation, which excludes volatile fresh food items, rose 2.2% year-on-year in November, government data showed on Friday. Headline CPI inflation surged 2.6% from 1.8% in the prior month. The BOJ is expected to raise interest rates in December after two historic hikes earlier this year.
Overnight, trading in U.S. equities and Treasury securities was closed due to the Thanksgiving holiday.
|