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The key equity benchmarks ended with limited gains after a volatile session on Thursday, investors looking forward for third quarter GDP data today. The Nifty closed above 21,950 mark after hitting day’s low of 21,860.65 in morning trade. PSU bank, metal and private bank stocks advanced while media, healthcare and IT shares slipped. Trading was volatile due to February F&O series expiry today.
As per provisional closing data, the barometer index, the S&P BSE Sensex up 195.42 points or 0.27% to 72,500.30. The Nifty 50 index added 31.65 points or 0.14% to 21,982.80.
In The broader market, The S&P BSE Mid-Cap index rose 0.84% and the S&P BSE Small-Cap index added 0.50%.
The market breadth was positive. On the BSE, 1,947 shares rose and 1,841 shares fell. A total of 121 shares were unchanged.
The NSE’s India VIX, a gauge of market’s expectation of volatility over the near term, slides 4.63% to 15.57.
Economy:
The National Statistical Office (NSO) is scheduled to release the official third quarter GDP data today. India’s economic growth is likely to moderate in the range of 6 to 6.8% in the third quarter of the current financial year, sharply lower than 7.6% expansion recorded in the previous quarter, as per reports.
New Listing:
Shares of GPT Healthcare were ended at Rs 200.25 on the BSE, representing a premium of 7.66% as compared with the issue price of Rs 186.
The scrip was listed at Rs 216.15, exhibiting a premium of 16.21% to the issue price.
The stock has hit a high of 219.70 and a low of 196.10. On the BSE, over 11.58 lakh shares of the company were traded in the counter.
IPO Update:
The initial public offer (IPO) of Mukka Proteins received 8,85,90,115 bids for shares as against 5,60,00,435 shares on offer, according to stock exchange data at 15:30 IST on Thursday (29 February 2024). The issue was subscribed 1.58 times.
The issue opened for bidding on Thursday (29 February 2024) and it will close on Monday (04 March 2024). The price band of the IPO is fixed at Rs 26 to 28 per share. An investor can bid for a minimum of 535 equity shares and in multiples thereof.
The initial public offer (IPO) of Bharat Highways InvIT received 3,83,46,450 bids for shares as against 10,30,12,800 shares on offer, according to stock exchange data at 15:30 IST on Thursday (29 February 2024). The issue was subscribed 0.37 times.
The issue opened for bidding on Wednesday (28 February 2024) and it will close on Friday (01 March 2024). The price band of the IPO is fixed at Rs 98 to 100 per share. An investor can bid for a minimum of 150 equity shares and in multiples thereof.
The initial public offer (IPO) of Exicom Telesystems received 2,12,36,10,100 bids for shares as against 1,82,23,540 shares on offer, according to stock exchange data at 15:30 IST on Thursday (29 February 2024). The issue was subscribed 116.53 times.
The issue opened for bidding on Tuesday (27 February 2024) and it will close on Thursday (29 February 2024). The price band of the IPO is fixed at Rs 135 to 142 per share. An investor can bid for a minimum of 100 equity shares and in multiples thereof.
The initial public offer (IPO) of Platinum Industries received 86,19,02,736 bids for shares as against 96,32,988 shares on offer, according to stock exchange data at 15:30 IST on Thursday (29 February 2024). The issue was subscribed 89.47 times.
The issue opened for bidding on Tuesday (27 February 2024) and it will close on Thursday (29 February 2024). The price band of the IPO is fixed at Rs 162 to 171 per share. An investor can bid for a minimum of 87 equity shares and in multiples thereof.
Buzzing Index:
The PSU Bank index surged 1.30% to 6,929.85. The index tumbled 3.95% in past four trading sessions.
Union Bank of India (up 4.93%), Bank of Maharashtra (up 3.45%), UCO Bank (up 3.45%), Central Bank of India (up 3.28%), Canara Bank (up 3.1%), Indian Overseas Bank (up 2.85%), Punjab & Sind Bank (up 2.48%), Bank of Baroda (up 2.06%), Punjab National Bank (up 1.28%) and State Bank of India (up 1.26%) advanced.
Punjab & Sind Bank advanced 2.48% after the bank announced that its board has approved fundraising of upto Rs 2,000 crore in one or more tranches.
Stocks in Spotlight:
Reliance Industries (RIL) rose 0.54%. The company, Viacom 18 Media and The Walt Disney Company announced the signing of binding definitive agreements to form a joint venture (JV) that will combine the businesses of Viacom18 and Star
NTPC advanced 0.74%. The company’s wholly owned subsidiary, NTPC Green Energy (NGEL) has signed a joint venture agreement with Maharashtra State Power Generation Company (MAHAGENCO), for development of renewable energy parks in…
Read More: Indices end with decent gains; Nifty settles above 21,150