Sensex hits record closing high, Nifty ends at 18,409.65; NSE VIX crosses 15 mark

16 Nov 2022 , 05:23 PM

The Indian equity benchmarks bounced off early lows and settled higher on Wednesday. The broader indices, however, dropped amid negative global cues. Global shares were under pressure after a blast in Poland that Ukraine and Polish authorities said was caused by a Russian-made missile. The barometer index, the S&P BSE Sensex, advanced 107.73 points or 0.17% to 61,980.72, its record closing high. The Nifty 50 index added 6.25 points or 0.03% to 18,409.65. The two benchmarks hit fresh 52-week highs on Wednesday at 18,442.15 for Nifty 50 index and 62,052.57 for Sensex. Further, the Nifty Bank index also recorded its fresh record high today at 42,611.75. Kotak Mahindra Bank (up 2.68%), Coal India (up 1.34%), HDFC (up 0.92%), Hindustan Unilever (up 0.92%) and TCS (up 0.82%) were top Nifty gainers. In the broader market, the S&P BSE Mid-Cap index shed 0.66% while the S&P BSE Small-Cap index fell 0.34%. The market breadth was positive. On the BSE, 1436 shares rose, and 2081 shares fell. A total of 122 shares were unchanged. The NSEs India VIX, a gauge of markets expectation of volatility over the near term, rose 3.17% to 15.10. Indias G20 presidency : India was handed over the Presidency of the G20 at the closing session of the G20 Summit in Bali today (16 November 2022). India will officially assume the G20 presidency from 1st of next month. The next G20 Summit will be held on the 9th and 10th of September in New Delhi. Numbers to Track: The yield on Indias 10-year benchmark federal paper advanced to 7.2736 as compared with 7.261 at close in the previous trading session. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 81.28, compared with its close of 80.91 during the previous trading session. MCX Gold futures for 5 December 2022 settlement added 0.82% to Rs 53,176. The US Dollar index (DXY), which tracks the greenbacks value against a basket of currencies, was down 0.42% to 105.96. The United States 10-year bond yield fell 0.19% to 3.792. In the commodities market, Brent crude for January 2023 settlement added 58 cents or 0.62% to $94.44 a barrel. Global Markets: Most shares in Europe and Asia declined on Wednesday as political instability gripped the region after a missile hit Polish territory, raising tensions between Russia and NATO. In Europe, U.K. inflation jumped to a 41-year high of 11.1% in October, exceeding expectations as food, transport and energy prices continued to squeeze households and businesses. U.S. equities advanced on Tuesday, supported by gains in the technology, consumer services and oil & gas sectors. U.S. producer price inflation fell to its lowest in over a year in October. The producer price index rose 0.2% in October. On a year-over-year basis, PPI rose 8% compared to an 8.4% increase in September. New Listing: Shares of Bikaji Foods International settled at Rs 317.45 on the BSE, a premium of 5.82% as against the issue price of Rs 300. The scrip was listed at Rs 321.15, representing a premium of 7.05% to the initial public offer (IPO) price. The scrip has hit a high of Rs 335 and a low of Rs 314. Over 20.96 lakh shares of the company changed hands on the counter. The IPO of Bikaji Foods International was subscribed 26.67 times. The issue opened for bidding on 3 November 2022 and it closed on 7 November 2022. The price band of the IPO was fixed at Rs 285-300 per share. Shares of Global Health closed at Rs 415.65 on the BSE, a premium of 23.71% as against the issue price of Rs 336. The scrip was listed at Rs 398.15, representing a premium of 18.50% to the initial public offer (IPO) price. The scrip has hit a high of Rs 424.90 and a low of Rs 391.05. Over 22.55 lakh shares of the company changed hands on the counter. The IPO of Global Health (Medanta) was subscribed 9.58 times. The issue opened for bidding on 3 November 2022 and it closed on 7 November 2022. The price band of the IPO was fixed at Rs 319 to 336 per share. Stocks in Spotlight: Tata Consultancy Services (TCS) rose 0.64%. The IT major has been selected as a strategic partner by TAP Air Portugal, the flag carrier airline of Portugal and a member of Star Alliance, to accelerate its digital transformation and drive innovation. Wipro added 0.25%. The company announced new retail solutions, built on the Microsoft Cloud and Cloud for Retail, and a new Retail Innovation Experience in Mountain View, California. This physical, virtual, and hybrid Experience will deepen collaboration between Wipro and Microsoft to accelerate delivery of new solutions that will enable retailers to grow their business and build stronger customer relationships. IOL Chemicals and Pharmaceuticals fell 1.43%. The companys board has approved the formation of a wholly owned subsidiary in United Kingdom (UK), which gives better business growth opportunities and would help in promoting business globally. Bharat Electronics added 1.17%. The PSU signed separate memorandum of understandings (MoU) with Hindustan Shipyard, SVC Tech Ventures, US-based Profense, and Yantra India to meet the requirements of Indian Defence and export markets. The MoU has been signed to carry out joint development, manufacturing and product upgrades of identified products / systems and to capitalise on the emerging opportunities in the domestic defence, nondefence and export markets. Bharat Rasayan fell 1.11%. The company reported a 13.4% decline in consolidated net profit to Rs 22.93 crore despite of 8.4% rise in net sales to Rs 291.77 crore in Q2 FY23 over Q2 FY22. Profit before tax skid 13.5% year on year to Rs 31.06 crore in the quarter ended 30 September 2022. Rajesh Exports slipped 0.87%. The companys consolidated net profit rose 27.9% to Rs 372.96 crore on a 94.62% jump in revenues to Rs 80,270.06 crore in Q2 FY23 over Q2 FY22. Consolidated profit before tax increased 32.63% to Rs 394.84 crore in Q3 FY22 as compared to Rs 297.70 crore in Q2 FY22. EBIDTA for the quarter stood at Rs 418.97 crore. DCX Systems fell 3.22%. The company reported 32% drop in stadalone net profit to Rs 7.88 crore in Q2 FY23 from Rs 11.64 crore in Q2 FY22. Revenue from operations declined by 8% YoY to Rs 173.88 crore during the quarter. KEC International added 2.11%. The RPG Group company said that it had secured new orders of Rs 1,294 crore across its various businesses. Primary Market: The initial public offer (IPO) of Keystone Realtors received bids for 1.73 crore shares as against 86.47 lakh shares on offer, according to stock exchange data 17:00 IST on Wednesday (16 November 2022). The issue was subscribed 2.01 times. The issue opened for bidding on Monday (14 November 2022) and it will close on Wednesday (16 November 2022). The price band of the IPO is fixed at Rs 514-541 per share. An investor can bid for a minimum of 27 equity shares and in multiples thereof. The issue comprises of a fresh issue of up to Rs 560 crore and an offer for sale of up to Rs 75 crore. Powered by Capital Market – Live News