Market LIVE Updates: Indices Near Day’s Low Amid Volatility; Realty Stocks Gain, IT, Auto Drag – Moneycontrol.com

• 11:08 AM IST

  Anand Rathi IPO sees 3.77 times subscription on day 3, QIB portion booked 17%

• 10:51 AM IST

  Nifty Metal index rises nearly 1 percent supported by the JSW Steel, Welspun Corporation, Hindalco Industries

• 10:47 AM IST

  Eris Lifesciences forms 10-year joint venture with MJ Biopharm to enter the insulin segment

• 10:39 AM IST

  Anand Rathi IPO sees 3.38 times subscription on day 3

• 10:36 AM IST

  Expect USDINR pair to trade in the range of 75-75.45: Amit Pabari

• 10:30 AM IST

  BSE Information Technology index falls 1 percent dragged by HCL Infosystems, Datamatics Global Services, Mastek

• 10:27 AM IST

  Indian rupee opens marginally lower at 75.21 per dollar

• 10:20 AM IST

  16,900 a near-term support for Nifty: Manish Hathiramani

• 10:01 AM IST

  Nifty Auto index slips 1 percent dragged by the Maruti Suzuki, Ashok Leyland, Bharat Forge

• 09:45 AM IST

  MapmyIndia sets IPO price band at Rs 1,000-1,033 per share

• 09:38 AM IST

  BSE Realty index up 1 percent led by the Godrej Properties, Sobha, Oberoi Realty

• 09:34 AM IST

  Petrol, diesel prices remained unchanged on December 6

• 09:31 AM IST

  Godrej Properties enters into JV with TDI group to develop a residential project in New Delhi

• 08:33 AM IST

  CBI cuts UK economic growth forecasts on supply chain hit

• 08:28 AM IST

  Australia job ads jump 7.4% in November -ANZ

• 08:19 AM IST

  LIC improves asset quality ahead of IPO, lowers net NPA to 0.05%

• 08:16 AM IST

  Japan government considering lifting FY22 economic growth forecast

• 08:04 AM IST

  Gold holds steady as investors weigh faster Fed taper prospects

• 07:46 AM IST

  Oil gains more than $1/bbl after Saudi price hike

• 07:42 AM IST

  Asia in cautious mood as Omicron spreads, US CPI looms

• 07:33 AM IST

  SGX Nifty indicates a flat start for the Indian indices:

December 06, 2021 / 11:08 AM IST

Anand Rathi IPO updates: The initial public offering of Anand Rathi Wealth, one of the leading non-bank wealth solutions firms in India, has been subscribed 3.77 times on December 6, the final day of bidding, garnering bids for 3.19 crore equity shares against the IPO size of 84.75 lakh equity shares.

The reserved portion for qualified institutional buyers was subscribed 17 percent, and that of non-institutional investors saw 4.34 times subscription. Retail investors continued to provide strong support to the issue with their allotted quota being subscribed 5.76 times, and employees have put in bids for 70 percent of the portion set aside for them.

December 06, 2021 / 11:02 AM IST

Market update at 11 AM: Sensex is down 257.70 points or 0.45% at 57438.76, and the Nifty shed 74.20 points or 0.43% at 17122.50. Tata Steel, ICICI Bank and UPL are the top gainers while Coal India, HCL Tech and Asian Paints are the top losers.

Among the sectors, the realty index added a percent while IT and auto sectors are under pressure.

December 06, 2021 / 10:51 AM IST

Nifty Metal index rose nearly 1 percent supported by the JSW Steel, Welspun Corporation, Hindalco Industries

December 06, 2021 / 10:47 AM IST

Eris Lifesciences forms 10-year joint venture with MJ Biopharm to enter the insulin segment

Shares of Eris Lifesciences jumped almost 10 percent in trade on December 6 after the company, on December 3, announced that it has formed a 10-year joint venture with MJ Biopharm to enter the insulin segment.

The objective of the joint venture is to expand the product portfolio to offer biotherapeutic options to cardio-metabolic patients, the company said in a regulatory filing.

December 06, 2021 / 10:39 AM IST

Anand Rathi IPO sees 3.38 times subscription on day 3

The initial public offering of Anand Rathi Wealth, one of the leading non-bank wealth solutions firms in India, has been subscribed 3.38 times on December 6, the final day of bidding, garnering bids for 2.86 crore equity shares against the IPO size of 84.75 lakh equity shares.

The reserved portion for qualified institutional buyers was subscribed 17 percent, and that of non-institutional investors saw 3.79 times subscription.

Retail investors continued to provide strong support to the issue with their allotted quota being subscribed 5.2 times, and employees have put in bids for 68 percent of the portion set aside for them.

December 06, 2021 / 10:36 AM IST

Amit Pabari, MD at CR Forex Advisors

The theme for this week would be economic data. The source of volatility in the USDINR pair could be Wednesday’s ‘RBI monetary policy’ or Friday’s ‘US CPI data’. That apart, the market will be focusing on trade balance data and CPI data from India’s immediate peer country- China. 

It would be a little sluggish start to the second week of December for the USDINR pair with a slight depreciating move towards 75.25 levels as a stronger dollar on the back of a sharp fall in the US unemployment rate and FII’s big bang selling equities have weighed down. 

One can expect the pair to trade in the range of 75.00 – 75.45 with a higher potential for the bullish move for the day. 

December 06, 2021 / 10:30 AM IST

BSE Information Technology index fell 1 percent dragged by HCL Infosystems, Datamatics Global Services, Mastek 

December 06, 2021 / 10:27 AM IST

Rupee Opens:

Indian rupee opened marginally lower at 75.21 per dollar on Monday against Friday’s close of 75.17.

The US non-farm payroll did not come out as per expectations but the corona virus fear and FED quickening tapering has kept dollar well bid. The RBI MPC starts today with no expectation of a rate hike but RBI could be hawkish in its speech, said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors. 

USDINR range for the day should be 75 to 75.30. Exporters may sell near to 75.30 while importers can wait for hedging and for cash and near term imports should do it at the bottom end of the range around 75, he added.

December 06, 2021 / 10:20 AM IST

Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

The markets have opened on a tepid note. We have failed to keep above the 17400-17500 level which is a major hurdle for the Nifty. A bullish trend can emerge only post that. Until then a “sell on rallies” approach can be adopted. 

16900 is a near-term support for the index and if we break that, the markets can crack further.

December 06, 2021 / 10:05 AM IST

Market at 10 AM

Benchmark indices are trading lower with Nifty around 17100 dragged by auto, IT, pharma and banking stocks.

At 10:02 IST, the Sensex was down 251.79 points or 0.44% at 57444.67, and the Nifty was down 67.40 points or 0.39% at 17129.30. About 1566 shares have advanced, 1284 shares declined, and 159 shares are unchanged.

December 06, 2021 / 10:01 AM IST

Nifty Auto index slipped 1 percent dragged by the Maruti Suzuki, Ashok Leyland, Bharat Forge