Sensex jumped 612 pts; Nifty at the top 16,950; Bajaj Finance increases by 3%


Major equity indices ended Wednesday with robust gains amid a rally in global equity markets. All sector indices on the NSE ended in the green. Real estate, pharmaceuticals and metals stocks were in demand.

The barometer index, the S&P BSE Sensex, jumped 611.55 points or 1.09% to 56,930.56. The Nifty 50 index added 184.60 points or 1.10% to 16,955.45.

Bajaj Finance (up 2.94%), Reliance Industries (up 2.42%) and ICICI Bank (up 1.74%) supported the indices.

The larger indices outperformed the benchmarks. The BSE Mid-Cap index rose 1.47% and the BSE Small-Cap index gained 1.66%.

The scale of the market was strong. On BSE, 2,434 stocks rose and 908 stocks fell. A total of 104 shares remained unchanged.

Figures to watch:

The yield on the 10-year federal benchmark paper fell to 6.465% from 6.468% at the close of the previous trading session.

In the forex market, the rupee rose slightly against the dollar. The partially convertible rupee hovered at 75.54, from its close of 75.5950 on the previous trading session.

MCX gold futures for the February 4, 2022 settlement fell 0.05% to Rs 48,044.

The US dollar index (DXY), which tracks the value of the greenback against a basket of currencies, fell 0.09% to 96.41.

In the commodities market, Brent crude for the February 2022 settlement fell 22 cents to $ 74.20 a barrel. The contract rose $ 2.46, or 3.44%, to settle at $ 73.98 a barrel in the previous trading session.

Foreign markets:

Most stocks in Europe and Asia rose on Wednesday. Investors continue to assess the impact of the omicron COVID variant.

Investors are juggling the rapid spread of the omicron variant and the introduction of containment measures by governments around the world, with new scientific analysis of its severity and pharmaceutical developments on recalls and treatments.

In the United States, President Joe Biden said in a speech Tuesday that people who received booster shots are “highly protected,” urging Americans to get their extra doses. The President reiterated that the United States does not go back to March 2020 at the height of the initial outbreak when the country entered a forced lockdown.

Buzzing segment:

The Nifty Realty Index rose 2.95% to 473.50. The index rose 4.61% in two sessions.

Brigade Enterprises (up 8.26%), Macrotech Developers (up 6.26%), Prestige Estates Projects (up 5.38%), Oberoi Realty (up 3.77%), Sobha (up 3.75%), Sunteck Realty (up 3.01%), Indiabulls Real Estate (up 2.15%), Godrej Properties (up 1.55%) and DLF (up 1.1% increase) jumped.

Featured Actions:

IDFC jumped 7.87% after the company’s board of directors approved the appointment of Anil Singhvi as chairman of the board with immediate effect. Anil Singhvi is President of Ican Investments Advisors, a business advisory firm.

At its meeting today, the Board of Directors also approved the proposal to seek shareholder approval, by mail ballot, for the appointment of Anita Belani as additional director in the category. independent director of the company with effect from November 9, 2021 for a period of three years.

In addition, the Company will also seek shareholder approval for the proposed merger of IDFC Alternatives, IDFC Trustee Company and IDFC Projects (wholly owned subsidiaries) into IDFC, subject to regulatory approvals from various authorities, if applicable.

Deepak Nitrite rose 2.50%. The board of directors of the company has approved the raising up to Rs 2,000 crore by the issuance of shares or any other security linked to the capital of the company or other securities convertible or exchangeable for shares via placements of qualified institutions (QIP), in one or more of the tranches.

Larsen & Toubro (L&T) rose 2.14%. The construction branch of the company has obtained a “large” order for its buildings and factories activities from a reputable developer. According to L&T classification, the value of “material” contracts is between Rs 1000 crore and Rs 2500 crore.

Zee Entertainment Enterprises (ZEEL) lost 0.09%. Sony Pictures Networks India (SPNI) and ZEEL have announced that they have signed definitive agreements to merge ZEEL with and into SPNI and combine their linear networks, digital assets, production operations and program libraries.

Yes Bank jumped 4.83%. The bank said its board of directors approved the raising of up to Rs 10,000 crore through the issuance of shares / deposit receipts / convertible bonds / bonds / warrants / any other equity related securities , via authorized modes.

Vascon Engineers jumped 10.28%. The company has received an award letter in the amount of approximately Rs 199 crore from Vedanta for the construction of the Cairn Oil & Gas residential complex in Barmer, Rajasthan.

IndeMART InterMESH increased by 1.04%. The Company has indirectly, through its wholly owned subsidiary, Tradezeal Online, agreed to acquire 4,784 compulsorily convertible Series A preferred shares and 100 equity shares totaling 26.01% of Edgewise Technologies, on a fully diluted.

PNC Infratech jumped 3.88% after the company received a Letter of Acceptance (LOA) for a mandate to collect user fees in the NCR from the National Highways Authority of India (NHAI). The value of the contract is Rs 369 crore.

New list:

Metro Brands shares closed at Rs 493.55 on BSE, down 1.29% from the issue price of Rs 500. The script was listed at Rs 436, which is a discount of 12.80% compared to the price of the initial public offering (IPO). .

The script hit a high of Rs 507.70 and a low of Rs 426.10 during the day. Over 7.76 lakh of company stock changed hands at the counter.

Metro Brands’ IPO was subscribed 3.64 times. The issue opened for auction on December 10, 2021 and closed on December 14, 2021. The IPO price range was set at Rs 485-500.

Primary market:

CMS Info Systems Initial Public Offering (IPO) received offers for more than 2.46 crore of shares for 3.75 crore of shares on offer, according to stock market data at 4:51 p.m. IST on Wednesday (December 22, 2021) . The issue was 66% subscribed.

The issue opened for auction on December 21, 2021 and will close on December 23, 2021. The IPO price range is set at Rs 205-216. An investor can bid on a minimum of 69 stocks and in multiples thereof.

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(This story was not edited by Business Standard staff and is auto-generated from a syndicated feed.)

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