Bank Nifty was down nearly 1 per cent, followed by losses in Nifty Financial Services, Nifty Private Bank. Image: Pixabay
Share Market News Today | Sensex, Nifty, Share Prices LIVE: BSE Sensex and Nifty 50 were trading over half a per cent down on Wednesday, a day before the weekly F&O expiry. BSE Sensex was hovering around 60,000, while Nifty 50 was ruling below 17950. M&M, Sun Pharma, Dr. Reddy’s, and Titan Company were top BSE Sensex gainers. HDFC, Kotak Mahindra Bank, ICICI Bank, Hindustan Unilever Ltd (HUL), Bajaj Auto, State Bank of India (SBI) were top index laggards. Bank Nifty was down nearly 1 per cent, followed by losses in Nifty Financial Services, Nifty Private Bank. While Nifty Pharma, Nifty Auto, Nifty Media were trading in green.
Nykaa shares made a stellar listing on the stock exchanges today, despite the overall weak market momentum. Shares of Nykaa opened for trading at Rs 2,001 apiece, up 78% or Rs 876 per share from the issue price of Rs 1,125 per share.
It is one of the very few profitable new-age company and is the first women led unicorn which also attracted lot of investor interest. Apart from leadership in online BPC in India, Nykaa is also one of the fastest growing fashion platforms in India based on GMV (Gross Merchandise Value). Nykaa’s key strengths lies in its inventory-led business model for BPC segment, which allows it to offer authentication for all its products and ensures availability and efficient distribution. The online BPC market is highly underpenetrated at just 8% in India and is growing at a very fast pace of 60% p.a. over CY16-20. Given 35% market share of Nykaa in online BPC, we believe Nykaa is rightly placed to tap the high growth digital/online penetration in BPC/Fashion market. We like Nykaa given its leadership position in online BPC market, customer centric approach, profitable tech platform and capital efficient business model. Sneha Poddar, AVP Retail Research, Motilal Oswal Financial Services
Nykaa stock is trading at a premium of over 82% at ₹2,054 per share on the NSE as compared to its IPO issue price of ₹1,125. We advice investors to cover their 50% position at current premium and rest hold with closing stoploss of 1850 for the target of 2500. Nykaa has a strong fundamental so investors may hold their position for longer period. Ravi Singh, VP & Head of Research, Share India Securities
Nykaa shares hit Rs 1 lakh crore market capitalisation on stock debut day. Nykaa shares more than doubled from IPO price on listing day
KFC and Pizza Hut operator Sapphire Foods India’s IPO has received 56 per cent subscription so far on day two of the bidding process. The issue received bids for 54.56 lakh equity shares against an offer size of 96.63 lakh shares so far on the second day of bidding. The portion reserved for retail investors saw 2.97 times subscription, while the reserved portion of non-institutional investors was subscribed just 6 per cent, and qualified institutional buyers have put in bids for 82,728 shares against 52.70 lakh shares reserved for them. Their portion was subscribed 2 per cent.
Nykaa is debuting the secondary market on a strong note on the back of stellar response by the investors and strong fundamentals. It is among the few profitable new edge businesses furthermore it is a high-growth company and into the right business where it may continue to grow in double digits for many years. We are expecting upside momentum may continue for at least 1-2 days then it may be stabilized for some time because valuation could be a concern after a big listing gain however 2000 level could act as a support level in the near term. It may head towards 2100/2200 levels even after a big opening. Those who were playing for listing gain can keep a stop loss of 1950 while aggressive investors are advised to hold this stock for the long term because it is one of the few stocks in new edge companies to own into your portfolio. It is difficult to buy after a big gain at opening however fresh investors can accumulate in parts where they can buy 25℅ at the opening of what they want to invest into this stock while if it witnesses any correction towards 18000 level then they can add more. Santosh Meena, Head of Research, Swastika Investmart
ICICI Bank, Housing Development Finance Corporation (HDFC), Infosys, HDFC Bank, and Kotak Mahindra Bank were among top index draggers
Nykaa shares further surged in trade, rising 88.5 per cent to Rs 2,105 levels on BSE
The markets have opened on a tepid note - it continues to face resistance at higher levels. We are unable to sustain above 18000-18100 for even two sessions in a row. If the Nifty can get past that hurdle, we can scale higher to 18400 and then 18600. Until then it is a wait and watch situation as the markets are not bearish either so traders need to wait for a direction to emerge. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
The global equities are currently trading lower by 1 to 1.5% following yesterday's fall in US equities on the rising inflationary concerns on the economy. Hence, domestic equities could also fall by more than 1% today. The foreign investors seem to continue their selling spree from the secondary market as yesterday also they have sold almost Rs. 2,445 crores from equities. On the IPO side, very much hyped ‘Paytm’ IPO is subscribed by just 50% on the 2nd day. It will be interesting to see whether India’s biggest IPO will be able to oversubscribe by more than 50 or 70 times on the final day. On the data front, the Chinese CPI/PPI data are out and that suggests escalating factory inflation to 26 years high. The market now awaits today’s US CPI data for further guidance on Fed’s policy. India’s CPI and IIP data are due on Friday. The RBI could start adding USD into their reserve kitty as the rate seems favorable for their book and thus importers are time and again advised to cover on dips close to 73.90-74.00 levels. As long as 73.80 is holding, the short-term range is pegged from 73.80 to 74.50. Amit Pabari, managing director, CR Forex Advisors
Today's trading activity in the market is likely to be dominated by the listing and trading in Nykaa. Investors should not be carried away by the exuberance in the IPO market where IPOs are made at a huge premium. Even in this highly-valued market, there are some high-quality stocks available at reasonable valuations. For instance, in financial services and health care. Investors may look at such tried and tested names rather than chasing high-priced IPOs driven by expectations. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Policybazaar parent company PB Fintech’s Rs 5,625-crore IPO, which was subscribed 16.59 times, will finalise the share allotment on Wednesday, 10 November 2021. The public issue received bids for over 57.23 crore shares against the total issue size of over 3.45 crore shares. Policybazaar IPO shares are likely to make their stock market debut next week on Monday, 15 November, according to the Red Herring Prospectus. The initiation of refunds or unblocking of funds from the ASBA account will take place on November 11, Thursday. The equity shares will be credited to the depository accounts of allottees on the next day.
Bank Nifty was down nearly 1 per cent, followed by losses in Nifty Financial Services, Nifty Private Bank. While Nifty Pharma, Nifty Auto, Nifty Media were trading in green
HDFC, Kotak Mahindra Bank, ICICI Bank, Hindustan Unilever Ltd (HUL), Bajaj Auto, State Bank of India (SBI) were top index laggards
M&M, Sun Pharma, Dr. Reddy's, and Titan Company were top BSE Sensex gainers
BSE Sensex fell 366 points or 0.61 per cent to 60,066, while Nifty 50 gave up 18000 level
BSE Sensex fell 136 points or 0.23 per cent to 60,297 in the pre-opening session on Wednesday
India’s biggest-ever public issue, Paytm IPO received a 48 per cent application on day two of the bidding process. The issue received bids for 2.34 crore equity shares against an offer size of 4.83 crore shares so far on the first day of bidding. The portion reserved for retail investors saw 1.23 times subscription, while the reserved portion of non-institutional investors was subscribed just 5 per cent, and qualified institutional buyers have put in bids for 1.20 crore shares against 2.63 crore shares reserved for them. Their portion was subscribed 46 per cent.
Nifty is expected to open negative, with a gap down of 120 points at 17920. Since the last two trading sessions, Nifty has been facing resistance at its 20 period moving average. Traders should avoid taking long positions till the time Nifty closes above 18100 with higher than average volumes. Gaurav Udani, CEO & Founder, ThincRedBlu Securities
A total of 286 BSE-listed companies such as Bank of Baroda, Zomato, Affle India, Berger Paints, Glenmark Life Sciences, India Cements, Krishna Institute of Medical Sciences, Mazagon Dock Shipbuilders, Metropolis Healthcare, Nuvoco Vistas Corporation, Oil India, Pidilite Industries and Tata Teleservices among others will release September quarter earnings on November 10.
India’s biggest-ever public issue, Paytm IPO received a 48 per cent application on day two of the bidding process. The issue received bids for 2.30 crore equity shares against an offer size of 4.83 crore shares so far on the first day of bidding. The portion reserved for retail investors saw 1.20 times subscription, while the reserved portion of non-institutional investors was subscribed just 4 per cent, and qualified institutional buyers have put in bids for 1.18 crore shares against 2.63 crore shares reserved for them. Their portion was subscribed 45 per cent.
Nykaa, owned by FSN E-Commerce Ventures Ltd, whose IPO got 81.78 times subscription, is scheduled to make its stock market debut on Wednesday, 10 November 2021. The IPO received a stellar response from both institutional as well as retail investors. In the primary market, Nykaa shares were quoting at a premium of 68 per cent over the issue price of Rs 1,125 per share, according to the people who deal in unlisted shares of the companies. Nykaa has a diverse portfolio of beauty, personnel care, and fashion products including its owned manufactured brand products under its two business verticals, Nykaa and Nykaa Fashion.
Share Market LIVE: Sensex tanks over 350 pts, Nifty gives up 18000; HDFC, Infosys top laggards - The Financial Express
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