Sensex, Nifty Advance For Second Day As FMCG, Drugmakers Climb; Lenders Retreat
Indian shares extended their gains for a second day, although not by much, as investors turned fence-sitters ahead of next week’s central bank meetings in the U.S. and Japan.
The S&P BSE Sensex climbed 0.1 percent to 28,412; while the NSE Nifty gained 0.1 percent as well to 8,742. The market breadth was skewed in favour of the bulls at 855 advances, 730 declines and 280 stocks remaining unchanged.
Shares of FMCG companies saw decent buying interest, followed by some of the healthcare names. However, investors booked profit in PSU bank stocks after yesterday’s run up.
The Nifty Media index was the best performing sectoral gauge on the NSE. The index is up around 3.4 percent in the last two trading session.
Leading the list of winners: TV18 Broadcast (+9.1%), Sun TV Networks (+5.5%), Dish TV (+4.7), Network18 Media (+4%), TV Today Network (+2.7) and Zee Entertainment (+2.4%).
L&T Technology IPO Oversubscribed 1.43 Times
The technology solutions provider’s offer for sale gets demand of 143 per cent on the last day of the three-day bidding.
As per NSE data, the firm got bids for around 10.4 million shares, compared to 7.28 million shares on offer.
L&T Tech had raised Rs 268 crore selling 3.12 million shares to anchor investors at Rs 860 each.
GNA Axles IPO Oversubscribed 1.36 Times
Auto components maker GNA Axles’ Rs 130-crore IPO was oversubscribed 1.36 times till afternoon trade on the second day of the bidding today. The IPO received bids for 60,60,390 shares against the total issue size of 44,70,000 shares, as per NSE’s data till 1300 hrs.
The issue was subscribed 64 per cent yesterday. The company has fixed a price band of Rs 205–207 per share for the offer, which would close tomorrow.
SC Directs Parsvnath Developers To Deposit Rs 12 Crore In 4 Weeks
Shares of the real estate firm dropped as much as 2.3 percent after the apex court directed it to deposit Rs 12 crore with its registry within four weeks for a delay in delivering flats to 70 buyers in Greater Noida. (Full report HERE)