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Closing Bell: Nifty ends below 18,000, Sensex falls 396 pts; auto stocks outshine – Moneycontrol.com

November 16, 2021 / 03:34 PM IST

Market Close: Benchmark indices ended on negative note on November 16 with Nifty below 18000 dragged by the bank, pharma, oil & gas and metals stocks.

At close, the Sensex was down 396.34 points or 0.65% at 60,322.37, and the Nifty was down 110.30 points or 0.61% at 17,999.20. About 1496 shares have advanced, 1639 shares declined, and 122 shares are unchanged.

Shree Cements, Reliance Industries, Hindalco Industries, Tata Consumer Products, SBI were among the major Nifty losers. However, gainers included Maruti Suzuki, M&M, Tata Motors, Hero MotoCorp and Tech Mahindra.

Among sectors, the PSU Bank index shed 2 percent, while Nifty Bank, Energy and Pharma indices down 1 percent each. However, Auto index added over 2 percent. The BSE midcap index was down 0.22 percent, while the smallcap index ended with marginal gains.

November 16, 2021 / 03:29 PM IST

S Ranganathan, Head of Research at LKP securities:

As Investors try to figure out the valuation disconnect between the recently listed Digital entities versus their traditional counterparts who built distribution reach offline, the euphoria around the former seems to have set minds thinking. 

As the street worries on inflationary pressures leading to companies raising prices and their consequent impact on demand, we saw a highly volatile trading session today. The auto sector though bucked the trend with Auto OEMs seeing good buying interest on reports of easing in chip and semiconductor shortages with the Auto Index up 3% in afternoon trade.

November 16, 2021 / 03:24 PM IST

BSE Bankex index shed 1 percent dragged by the SBI, Federal Bank, IndusInd Bank

November 16, 2021 / 03:21 PM IST

Foods and Inns gets NSE approval for listing on NSE’s trading platform

Foods and Inns has obtained approval from National Stock Exchange of India for the purpose of listing of its equity shares having face value of Rs 1 only on NSE’s trading platform.

Foods and Inns touched a 52-week high of Rs 89.50 and was quoting at Rs 89.50, up Rs 4.25, or 4.99 percent on the BSE.

November 16, 2021 / 03:17 PM IST

Nifty PSU Bank index fell nearly 2 percent dragged by the J&K Bank, Union Bank of India, Bank of India

Nifty PSU Bank index fell nearly 2 percent dragged by the J&K Bank, Union Bank of India, Bank of India

November 16, 2021 / 03:07 PM IST

Credit Suisse view on UltraTech Cement:

Foreign broking house Credit Suisse has maintained outperform rating on UltraTech Cement and raised the target price to Rs 9,250 from Rs 8,600 per share.

The house construction activity pick-up can drive positive surprise on cement demand, while this driver can turn around & drive demand for cement ahead of expectations.

UltraTech Cement was quoting at Rs 7,890.60, down Rs 156.05, or 1.94 percent.

November 16, 2021 / 03:03 PM IST

Market at 3 PMBenchmark indices extended the losses in the final hour of trading with Nifty around 18000 level.The Sensex was down 264.45 points or 0.44% at 60454.26, and the Nifty was down 76.60 points or 0.42% at 18032.90. About 1535 shares have advanced, 1546 shares declined, and 116 shares are unchanged.

Market at 3 PM Benchmark indices extended the losses in the final hour of trading with Nifty around 18000 level. The Sensex was down 264.45 points or 0.44% at 60454.26, and the Nifty was down 76.60 points or 0.42% at 18032.90. About 1535 shares have advanced, 1546 shares declined, and 116 shares are unchanged.

November 16, 2021 / 02:55 PM IST

Nifty Pharma index shed 1 percent dragged by the Gland Pharma, Glenmark Pharma, Cadila Healthcare

Nifty Pharma index shed 1 percent dragged by the Gland Pharma, Glenmark Pharma, Cadila Healthcare

November 16, 2021 / 02:44 PM IST

Sapphire Foods IPO share allotment likely today

The share allotment of KFC and Pizza Hut operator Sapphire Foods is expected to be finalised on November 16. The public issue was closed on November 11.

The allotment can be checked either on the BSE website or on the IPO registrar’s website

The Rs 2,073-crore initial public offering was subscribed 6.62 times during November 9-11 with support from all kinds of investors. 

Grey market data indicated that there is no great demand for Sapphire Foods shares which are available at a price of Rs 1,230-1,260, a premium of Rs 50-80 or 4.2-6.8 percent, over the expected final issue price of Rs 1,180, as per the IPO Watch and IPO Central.

November 16, 2021 / 02:33 PM IST

Tarsons Products IPO updates: The initial public offering of Tarsons Products continues to see good demand from investors, with the issue getting subscribed 2.07 times by the  afternoon of November 16, the second day of bidding. The offer has garnered bids for 2.24 crore equity shares against the IPO size of 1.08 crore units. The portion set aside for retail investors has been subscribed 3.85 times and that of non-institutional investors has seen 38 percent subscription.

November 16, 2021 / 02:19 PM IST

European markets are trading flat with CAC up marginally in the green

European markets are trading flat with CAC up marginally in the green

November 16, 2021 / 02:13 PM IST

HCL Tech bags multi-year deal from Euroclear Group: HCL Technologies announced a new multi-year application deal with Euroclear Group to accelerate its agile transformation journey with technologies and working practices to improve its digital capabilities. It will work with Euroclear, the world’s largest provider of domestic and cross-border settlement and related services for bond, equity and fund transactions, to explore new business models and market opportunities to create value through innovation and data monetization. Leveraging its Fenix 2.0 execution framework, HCL will modernize Euroclear’s digital channel landscape, HCL Tech said in an exchange filing. The stock was trading at Rs 1,167.20, down Rs 3.90, or 0.33 percent. It has touched an intraday high of Rs 1,175.35 and an intraday low of Rs 1,160.75.