At 11:30 IST, the barometer index, the S&P BSE Sensex, rose 121.31 points or 0.15% to 82,042.60. The Nifty 50 index added 38.05 points or 0.15% to 25,079.15.
In the broader market, the S&P BSE Mid-Cap index rose 0.24% and the S&P BSE Small-Cap index gained 0.24%.
The market breadth was positive. On the BSE, 2,085 shares rose and 1,660 shares fell. A total of 141 shares were unchanged.
IPO Update :
The initial public offer (IPO) of P N Gadgil Jewellers received 5,55,31,726 bids for shares as against 1,68,85,964 shares on offer, according to stock exchange data at 11:15 IST on Wednesday (11 September 2024). The issue was subscribed 3.29 times.
The issue opened for bidding on Tuedsady (10 September 2024) and it will close on Thursday (12 September 2024). The price band of the IPO is fixed between Rs 456 to Rs 480 per share. An investor can bid for a minimum of 31 equity shares and in multiples thereof.
The initial public offer (IPO) of Kross received 5,99,42,902 bids for shares as against 1,53,50,877 shares on offer, according to stock exchange data at 11:15 IST on Wednesday (11 September 2024). The issue was subscribed 3.90 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 228 to Rs 240 per share. An investor can bid for a minimum of 62 equity shares and in multiples thereof.
The initial public offer (IPO) of Tolins Tyres received 5,90,32,578 bids for shares as against 74,88,372 shares on offer, according to stock exchange data at 11:15 IST on Wednesday (11 September 2024). The issue was subscribed 7.88 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 215 to 226 per share. An investor can bid for a minimum of 66 equity shares and in multiples thereof.
The initial public offer (IPO) of Bajaj Housing Finance received 7,74,06,53,492 bids for shares as against 72,75,75,756 shares on offer, according to stock exchange data at 11:15 IST on Wednesday (11 September 2024). The issue was subscribed 10.64 times.
The issue opened for bidding on Monday (9 September 2024) and it will close on Wednesday (11 September 2024). The price band of the IPO is fixed between Rs 66 to 70 per share. An investor can bid for a minimum of 214 equity shares and in multiples thereof.
Buzzing Index :
The Nifty FMCG index gained 0.99% to 65,222.45. The index rallied 3.23% in three consecutive trading sessions.
Varun Beverages (up 4.21%), Hindustan Unilever (up 1.66%), United Spirits (up 1.09%), Godrej Consumer Products (up 1.03%), Tata Consumer Products (up 0.91%), Marico (up 0.9%), Britannia Industries (up 0.81%), ITC (up 0.76%), Dabur India (up 0.71%) and Nestle India (up 0.48%) advanced.
Stocks in Spotlight :
Goa Carbon rallied 6.26% after the company informed that it has resumed operations at its Goa unit located at St. Jose de Areal, Salcete-Goa.
Aurionpro Solutions slipped 1.01%. The company informed that it has received contract to deliver, implement, and maintain the safe city project from Panvel Municipal Corporation (PMC), Maharashtra.
Global Markets :
Asian stocks slipped on Wednesday, reflecting investor caution as they anticipate a crucial U.S. presidential debate and the release of key inflation data. Crude oil prices remained near three-year lows, below $70 per barrel, due to concerns about weak demand.
The upcoming debate between Vice President Kamala Harris and former President Donald Trump could significantly influence the U.S. election. Investors will then turn their attention to the U.S. Consumer Price Index (CPI) report, which could provide clues about potential Federal Reserve interest rate cuts.
While the Fed is expected to lower rates next week, the magnitude of the cut remains uncertain, especially after a mixed jobs report last Friday.
U.S. stock markets experienced a volatile session on Tuesday, closing mixed as investors prepared for the CPI report. The S&P 500 (+0.5%) and Nasdaq Composite (+ 0.9%) finished slightly higher, while the Dow Jones Industrial Average (-0.2%) closed lower.
Apple shares declined after the company lost a legal battle in the EU over a $14 billion tax bill. This followed the recent launch of the iPhone 16, which was met with some disappointment regarding its artificial intelligence capabilities.
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First Published: Sep 11 2024 | 11:36 AM IST
