Market Commentary     20-Dec-24
Mid-Session
Sensex, Nifty trade in negative terrain; oil & gas shares jump
The domestic equity benchmarks traded with moderate losses in mid-morning trade. The Nifty slipped below the 23,950 mark after hitting the day's high of 24,065.80 in morning trade. Oil & gas shares advanced after declining in past four consecutive trading sessions.

At 11:29 IST, the barometer index, the S&P BSE Sensex, declined 167.57 points or 0.22% to 79,047.33. The Nifty 50 index lost 30.55 points or 0.13% to 23,921.15.

In the broader market, the S&P BSE Mid-Cap index declined 0.25% and the S&P BSE Small-Cap index fell 0.03%.

The market breadth was negative. On the BSE, 1,847 shares rose and 1,907 shares fell. A total of 155 shares were unchanged.

IPO Update:

The initial public offer (IPO) of Ventive Hospitality received bids for 6,23,277 shares as against 1,44,34,453 shares on offer, according to stock exchange data at 11:10 IST on 20 December 2024. The issue was subscribed to 0.04 times.

The issue opened for bidding on 20 December 2024 and it will close on 24 December 2024. The price band of the IPO is fixed between Rs 610 and Rs 643 per share. An investor can bid for a minimum of 23 equity shares and in multiples thereof.

The initial public offer (IPO) of Senores Pharmaceuticals received bids for 34,18,062 shares as against 85,34,681 shares on offer, according to stock exchange data at 11:10 IST on 20 December 2024. The issue was subscribed to 0.40 times.

The issue opened for bidding on 20 December 2024 and it will close on 24 December 2024. The price band of the IPO is fixed between Rs 372 and Rs 391 per share. An investor can bid for a minimum of 38 equity shares and in multiples thereof.

The initial public offer (IPO) of Carraro India received bids for 3,81,318 shares as against 1,30,98,803 shares on offer, according to stock exchange data at 11:10 IST on 20 December 2024. The issue was subscribed to 0.03 times.

The issue opened for bidding on 20 December 2024 and it will close on 24 December 2024. The price band of the IPO is fixed between Rs 668 and Rs 704 per share. An investor can bid for a minimum of 21 equity shares and in multiples thereof.

The initial public offer (IPO) of Sanathan Textiles received bids for 89,07,624 shares as against 1,26,22,950 shares on offer, according to stock exchange data at 11:10 IST on 20 December 2024. The issue was subscribed to 0.71times.

The issue opened for bidding on 19 December 2024 and it will close on 23 December 2024. The price band of the IPO is fixed between Rs 305 and Rs 321 per share. An investor can bid for a minimum of 46 equity shares and in multiples thereof.

The initial public offer (IPO) of DAM Capital Advisors received bids for 8,03,03,321 shares as against 2,08,04,632 shares on offer, according to stock exchange data at 11:10 IST on 20 December 2024. The issue was subscribed to 3.86 times.

The issue opened for bidding on 19 December 2024 and it will close on 23 December 2024. The price band of the IPO is fixed between Rs 269 and Rs 283 per share. An investor can bid for a minimum of 53 equity shares and in multiples thereof.

The initial public offer (IPO) of Transrail Lighting received bids for 4,10,79,616 shares as against 1,39,16,742 shares on offer, according to stock exchange data at 11:10 IST on 20 December 2024. The issue was subscribed to 2.95 times.

The issue opened for bidding on 19 December 2024 and it will close on 23 December 2024. The price band of the IPO is fixed between Rs 410 and Rs 432 per share. An investor can bid for a minimum of 34 equity shares and in multiples thereof.

The initial public offer (IPO) of Concord Enviro Systems received bids for 41,34,039 shares as against 50,15,356 shares on offer, according to stock exchange data at 11:10 IST on 20 December 2024. The issue was subscribed to 0.82 times.

The issue opened for bidding on 19 December 2024 and it will close on 23 December 2024. The price band of the IPO is fixed between Rs 665 and Rs 701 per share. An investor can bid for a minimum of 21 equity shares and in multiples thereof.

The initial public offer (IPO) of Mamata Machinery received bids for 11,62,58,131 shares as against 51,78,227 shares on offer, according to stock exchange data at 11:10 IST on 20 December 2024. The issue was subscribed to 22.45 times.

The issue opened for bidding on 19 December 2024 and it will close on 23 December 2024. The price band of the IPO is fixed between Rs 230 and Rs 243 per share. An investor can bid for a minimum of 61 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Oil & Gas index gained 0.86% to 10,878.25. The index fell 3.33% in past four consecutive trading sessions.

Aegis Logistics (up 7.80%), GAIL (India) (up 2.56%), Petronet LNG (up 2.27%), Indian Oil Corporation (up 1.21%), Bharat Petroleum Corporation (up 1.21%), Oil & Natural Gas Corpn (up 0.64%), Hindustan Petroleum Corporation (up 0.54%), Gujarat State Petronet (up 0.46%), Gujarat Gas (up 0.44%) and Reliance Industries (up 0.27%) advanced.

Stocks in Spotlight:

Waaree Energies declined 2.09%. The company announced that it’s wholly owned subsidiary, Waaree Solar Americas has started its trial production of 1.6 GW Solar Module line at its Unit situated at Brookshire, in the state of Texas, USA.

Knowledge Marine & Engineering Works rallied 4.63% after the company’s board will meet on Tuesday, 24 December 2024 to consider fund raising and stock split proposal.

Global Markets:

The Dow Jones index futures were down 90 points, signaling a negative opening for U.S. stocks today.

Asian stocks traded mixed on Friday as The People’s Bank of China held its loan prime rates steady on Friday, leaving the one-year rate unchanged at 3.1% and the five-year rate at 3.6%.

Investors awaited the release of the U.S. Personal Consumption Expenditure (PCE) price index, a key inflation gauge, for further insights into the Federal Reserve's monetary policy stance.

Meanwhile, Japan's consumer price index (CPI) rose slightly more than expected in November. Core CPI, which excludes volatile fresh food items, increased to 2.7% year-on-year, exceeding the previous month's 2.3%.

The Bank of Japan (BOJ) held interest rates steady on Thursday, its final meeting of the year, and provided limited clues on future rate hikes. However, the central bank projected a gradual increase in inflation over the next year.

In Europe, the Bank of England also kept its policy rate unchanged at 4.75% on Thursday.

U.S. stock indices closed mixed on Thursday after a sharp decline the previous day. Investors remained cautious about the Fed's hawkish stance and the potential impact on the economy. The S&P 500 and the Nasdaq Composite fell 0.1%, and the Dow Jones Industrial Average closed 0.04% higher.

The U.S. House of Representatives rejected a Republican-backed funding bill on Thursday, increasing the risk of a government shutdown as the current funding deadline approaches midnight on Friday.

Previous News
  Knowledge Marine & Engineering Works consolidated net profit rises 969.86% in the December 2024 quarter
 ( Results - Announcements 11-Feb-25   17:46 )
  Knowledge Marine & Engg. Works announces board meeting date
 ( Corporate News - 06-Feb-25   21:24 )
  Green Energy stocks rally as FM announces plans for clean tech manufacturing
 ( Hot Pursuit - 01-Feb-25   12:31 )
  Waaree Energies surges after multi-fold jump in Q3 PAT to Rs 493 cr
 ( Hot Pursuit - 31-Jan-25   12:12 )
  Waaree Energies consolidated net profit rises 295.64% in the December 2024 quarter
 ( Results - Announcements 30-Jan-25   15:51 )
  DAM Capital Advisors spurts as PAT zooms 144% YoY to Rs 52 crore in Q3 FY25
 ( Hot Pursuit - 27-Jan-25   11:00 )
  Dam Capital Advisors consolidated net profit rises 144.24% in the December 2024 quarter
 ( Results - Announcements 24-Jan-25   16:59 )
  Waaree Energies to announce Quarterly Result
 ( Corporate News - 24-Jan-25   16:33 )
  Waaree Energies bags LoA for 180 MWp-solar modules
 ( Hot Pursuit - 21-Jan-25   12:11 )
  Waaree Energies gains after inking pact to acquire Enel Green Power India for Rs 792-cr
 ( Hot Pursuit - 13-Jan-25   10:20 )
  Waaree Energies inks pact to acquire Enel Green Power India for Rs 792-cr
 ( Hot Pursuit - 11-Jan-25   12:31 )
Other Stories
  Sensex plummet 1,120 pts; consumer durables shares slump
  11-Feb-25   14:36
  Sensex, Nifty plunges over 1%; European mrkt advance
  11-Feb-25   13:39
  Indices trade lower; PSU bank shares slide for 4th day
  11-Feb-25   12:32
  Broader mrkt underperforms; media shares decline for 4th day
  11-Feb-25   11:33
  Nifty slides below 23,300; realty shares tumble
  11-Feb-25   10:36
  Indices nudge lower; breadth weak
  11-Feb-25   09:34
  Barometers trade with deep cuts; consumer durables shares slump
  10-Feb-25   14:36
  Market trade near day’s low; European mrkt advance
  10-Feb-25   13:38
  Indices trade with major losses; media shares slides for 3rd day
  10-Feb-25   12:35
  Broader mrkt underperforms; realty shares tumble
  10-Feb-25   11:36
Back Top