Benchmark indices fell for the second consecutive day on Monday as Omicron cases zoomed in India, along with other territories, threatening another round of local restrictions. The sharp plunge, which was led by IT stocks, wiped off Rs 4.29 lakh crore equity wealth from the market. FMCG and pharma stocks were among other the major casualties of the day. The 30-share pack Sensex fell 949.32 points or 1.65 per cent to close at 56,747.14. Its broader peer NSE Nifty slumped 284.45 points or 1.65 per cent to 16,912.25.
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Wall Street opens higher on banks, energy boost
The Dow Jones Industrial Average rose 53.35 points, or 0.15 per cent, at the open to 34,633.43. The S&P 500 opened higher by 9.94 points, or 0.22 per cent, at 4,548.37, while the Nasdaq Composite gained 32.16 points, or 0.21 per cent, to 15,117.63 at the opening bell.
Anand Rathi Wealth IPO subscribed 9.8 times on final day
The initial public offering (IPO) of Anand Rathi Wealth (ARWL) saw a decent response from the investors on the last day of the bidding process on Monday. The issue was fully subscribed on day one itself. The issue received nearly 10 times bids as of 5:00 pm, data on NSE showed. Investors bid for 8,29,21,509 equity shares against the total offering of 84,75,000 shares. The company is selling shares in the range of Rs 530-550 in its initial stake sale.
Rupee plunges vs US dollar, heads towards 75.50/$1
The rupee slumped against the US dollar on Monday, losing 0.3 per cent versus the greenback, as the spread of the new and heavily mutated Omicron strain in the country and signs of fresh curbs on activity sparked fears that the nascent economic recovery may take a backseat, dealers said. The partially convertible rupee ended the day a shade away from the psychologically significant 75/$1 mark, settling at 75.42/$1 as against 75.1625 per US dollar at the previous close. The Indian currency, which had started the day at 75.2150/$1, moved in a band of 75.1800-75.4500/$1 during the day.
Gold climbs Rs 29; silver tanks Rs 149
Gold in the national capital on Monday gained Rs 29 to Rs 46,974 per 10 gram supported by rupee depreciation despite weak international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 46,945 per 10 gram.
Most of the Nifty stocks are going through the corrective phase as their 14-day RSI reading is seen below levels of 70. Meanwhile, Bank Nifty was holding ground during the first half of the session but it broke below the 36,000 mark. Shifting range lower, 36,500 should be considered as an immediate resistance zone.
– Amit Trivedi, Yes Sec
The rise in COVID cases has again started haunting the global markets and the situation may deteriorate further in near future. Besides, the upcoming MPC’s policy review outcome and macroeconomic data (IIP and CPI inflation) would keep the volatility high. Keeping in mind the scenario, we reiterate a cautious stance and suggest continuing with a hedged approach.
– Ajit Mishra, VP – Research, Religare Broking
Tata Motors to hike prices effective Jan 1
Tata Motors has announced an impending price hike of its commercial vehicle range. An increase in price in the range of 2.5%, will be implemented from 1st January 2022 and will be put into effect across segments – M&HCV, I&LCV, SCV and Bus, basis individual model and variant of the vehicle.
Ambiguity surrounding Omicron continued to dent the morale of domestic investors ahead of the important RBI policy announcement on Wednesday. The domestic market is expected to be volatile as the near-term will be dominated by developments on new variant and, RBI and FED policy decisions. Market expects RBI to hold-on to the accommodative policy considering short-term uncertainties. However, a change is expected during H1 2022, which Indian market is factoring while global equities are trading mixed.
– Vinod Nair, Head Of Research at Geojit Financial Services
Indices started the day weak and selling intensified during afternoon trade with almost all sectoral indices ending in the red. As the Street awaits the RBI stance on interest rates, the Nifty sold off below 17K today as bears held upper hand on a day which saw no recovery. FII selling continued with no respite despite accumulation seen today in high quality financials by local investors.
– S Ranganathan, Head of Research at LKP Securities
Top Sensex drags in today’s trade
CLOSING BELL: Sensex falls for 2nd day, dives 949 points; Nifty ends at 16,912; Nykaa, Zomato decline 5% each
All sectors in the red
Top 10 losers on NSE
Price as on 06 Dec, 2021 03:20 PM, Click on company names for their live prices.
BSE Midcap index down nearly 1.5%
All Sensex stocks in the red as Sensex down 900 points
Investors lose Rs 3.26 lakh crore in the sell-off today
China cuts reverse repo rate by 50 bps
Volatility gauge India VIX surges 10% to 20.32
TCPL finishes 60% stake acquisition in Creative Offset Printers.
Price as on 06 Dec, 2021 02:36 PM, Click on company names for their live prices.
Sensex tanks over 700 points, down 1,300 points in two days
European markets update
Oil stocks helped drive a rebound in European stocks on Monday after sharp losses late last week when fears about the Omicron variant and the U.S. monetary policy outlook weighed on investor sentiment. The pan-European STOXX 600 edged up 0.7% as of 0818 GMT, with the energy sector climbing 1.4%. Oil prices rose by more than $1 a barrel after top exporter Saudi Arabia hiked prices for crude sold to Asia and the United States.
NIFTY SLIPS BELOW 17,000
Companies raised Rs 52,759 crore from IPOs till October this fiscal: Sitharaman
A total of Rs 52,759 crore has been raised by 61 companies through initial public offers till October this fiscal, higher than the funds mopped up through this route in the last financial year, the government told the Lok Sabha on Monday. Out of the 61 companies that hit the markets till October of the current fiscal, 34 entities were Small and Medium Enterprises (SMEs).
Tata Power, IIT Madras ink MoU to collaborate on R&D, training, tech solutions
Price as on 06 Dec, 2021 01:57 PM, Click on company names for their live prices.
Top losers in the IT Software space
Price as on 06 Dec, 2021 01:48 PM, Click on company names for their live prices.
IEX achieves 9477 MU volume in November 21 seeing 54% YoY growth
- The Real-time Electricity Market sees 1311 MU volume with 47% YoY growth
- 457 MU volume accomplished in Green Market with 178% YoY growth
- 24.44 lacs RECs traded at Exchange in the trading session on 24 Nov’ 21
Bharat Shah, Hiren Ved on sectors to bet on for this decade
Bharat Shah, executive director at ASK Group and a mentor to many on Dalal Street, said the financial services sector in the country has a “huge, huge opportunity” to grow over the coming decade as the economy develops. Shah said he was hopeful of the prospects of the country’s pharmaceutical and healthcare services companies as well as insurance.
Reliance Infra vs DMRC: HC defers hearing to Dec 22
Price as on 06 Dec, 2021 01:10 PM, Click on company names for their live prices.
The upcoming policy meet on December 8th is going to be a tough one with choices ranging from maintaining status quo or to signal the beginning of the withdrawal of the extraordinary easy monetary policy. It could be a non event – with no change in stance and no change in rates. But (given the inflation) a hike in reverse repo from 3.35% to 3.60% cannot be ruled out. It boils down to making an economic choice.
– Sandeep Bagla, CEO, TRUST Mutual Fund
Inox Green Energy approves fund raising via IPO: Agencies
Plans to raise up to Rs 500 cr via fresh issue in IPO
Happiest Minds Technologies hits 5% upper circuit as firm ranked among India’s Top 25 Best Workplaces in IT & IT-BPM 2021 by Great Place to Work Institute
Price as on 06 Dec, 2021 12:14 PM, Click on company names for their live prices.
Shares of Vodafone Idea continue their bull run, up nearly 50% since tariff hike
Price as on 06 Dec, 2021 12:06 PM, Click on company names for their live prices.
Shares of Morepen Laboratories surges 13% as the drug firm said that it received approval from the US health regulator to market a generic anti-allergy drug in America.
Price as on 06 Dec, 2021 11:52 AM, Click on company names for their live prices.
Anand Rathi Wealth IPO subscribed nearly 4 times so far on final day
MARKET CHECK: Sensex extends decline, down over 400 points
Cement cos cut prices
Price as on 06 Dec, 2021 11:19 AM, Click on company names for their live prices.
Shriram Properties sets IPO price band at Rs 113-118/share
Shriram Properties has fixed a price band of Rs 113-118 a share for its Rs 600-crore initial share-sale, which will open for public subscription on December 8. The three-day initial public offering (IPO) will conclude on December 10, the bidding for anchor investors will open on December 7, according to the company. The firm has reduced its offer for sale size to Rs 350 crore from Rs 550 crore earlier. Now, the IPO size will be Rs 600 crore against Rs 800 crore earlier.
Metro Brands IPO to open on Dec 10 and close on Dec 14
Godrej Properties to develop a luxury residential project in Delhi
Godrej Properties one of India’s leading real estate developers, today announced that it has entered into a Joint venture with TDI group to develop anultra-luxury residential project in Connaught Place, one of the most premium location within the Central Business District of New Delhi. The project is estimated to have a developable potential of approximately 125,000 square feet saleable area comprising primarily of residential apartments of various configurations. The site is centrally located and offers excellent connectivity, well developed social and civic infrastructure with Delhi’s best schools, hospitals, retail and commercial spaces in close, the company claimed. proximity
The markets have opened on a tepid note. We have failed to keep above the 17,400-17,500 level…
Read More: Sensex Today: Stock Market Highlights Today: Nifty forms a bearish candle on daily chart.