CLOSING BELL
Stock market highlights: The key benchmark indices exhibited a tepid trading session on Monday, as global markets displayed a mixed trend after US central banker Christopher Waller cautioned against getting carried away by one inflation number, he said it would take a string of soft reports for the central banker to take its foot off the brakes.
The S&P BSE Sensex opened a wee bit in red at 61,766, but soon rebounded into the positive zone and touched a high of 61,916. The index, however, could not hold gains as weakness in FMCG heavyweights dragged the benchmark back in red. The BSE 30-share index touched a low of 61,572, and eventually ended 171 points lower at 61,624.
The NSE Nifty gyrated in a narrow range of 88-odd points before settling with a loss of 29 points at 18,329.
Among the Sensex 30 shares, Dr.Reddy’s dropped over 4 per cent. ITC shed 2.5 per cent. Hindustan Unilever, SBI, ICICI Bank and Nestle were the other major losers, down over a per cent each. On the positive front, PowerGrid Corporation, Kotak Bank, Tata Steel and IndusInd Bank advanced a per cent each.
The broader indices also witnessed a lacklustre trading session. The BSE Midcap index ended almost unmoved, while the Smallcap index added 0.2 per cent.
Sectorally, the BSE FMCG index shed 1.3 per cent. The Power index was the other notable loser. Whereas, the Realty index gained a per cent, and the IT index moved 0.7 per cent higher.
The overall market breadth was marginally negative, with nearly 1,900 declining stocks versus 1,700 advancing shares on the BSE.
Among individual stocks, LIC rallied 6 per cent after the company posted 11 times higher profit in Q2 over the last year.
Shares of Hospital companies were in limelight, surging up to 11 per cent after they reported a strong operational performance in the September quarter (Q2FY23). Fortis Healthcare soared 11 per cent, while Krishna Institute of Medical Sciences (KIMS) rallied 8 per cent. Apollo Hospitals Enterprise and Narayana Hrudayalaya, too, logged smart gains.
Primary Market Update
Kaynes Technology India IPO was subscribed 33.5 times as of 3:30 PM on the last day of the offer period. The QIB portion was subscribed 97.4 times, while the retail portion saw subscription up to 3.5 times.
INOX Green Energy Services IPO, which closes on Tuesday, was subscribed up to 70 per cent so far. The retail quota was subscribed 2.2 times.
Keystone Realtors’ IPO which opened for subscription today, was off to a slow start with mere 6 per cent subscription seen so far on Day 1. Meanwhile, analysts are optmistic on the prospects of the IPO
