Stock Market Update: Sensex, Nifty trade lower dragged by banks


by mydhanush on 30 November 2023,  3 min read

Mid-Market News Banking Stocks Drags Market Down

Indian stock market was trading in the red with selling seen in Bank Nifty which shed 0.66 percent. 

The stock market was trading in the red on November 30. Sensex was down 213 points or 0.32 percent at 66,688. Nifty shed 49 points or 0.25 percent at 20,046 level.

Around 1156 stocks advanced, 1152 stocks declined and 99 remained unchanged.

Selling pressure was apparent in the Bank Nifty, which experienced a decrease of 0.66 percent. Punjab National Bank shed over 1 percent followed by Federal Bank, AU Small Finance Bank and IndusInd Bank.

IT and metals witnessed some selling pressure. The top losers were Tech Mahindra, Tata Consultancy Services and Infosys from the IT space. Jindal Stainless, Adani Enterprises and Hindustan Copper were the other losers.

Top Nifty50 gainers:                                           Top Nifty50 losers:

Most active stocks on NSE in terms of volumes:

Tata Technologies witnesses bumper debut:

Tata Technologies made a blockbuster debut on the bourses on November 30. It listed at 140 percent premium to the IPO price. The stock started trading at Rs 1,200 on the NSE and at Rs 1,199.95 on the BSE.

Issue Subscription of IPO

The IPO attracted substantial attention across all investor categories, accumulating over 73.38 lakh applications in total. The public offer received an overwhelming subscription of 69.43 times.

The public offer saw an impressive oversubscription rate of 69.43 times. Notably, the portion set aside for qualified institutional buyers (QIBs) hit a remarkable record.

Gandhar Oil Refinery lists at 75% premium to IPO price

White oil manufacturer Gandhar Oil Refinery (India) surpassed analysts’ expectations. It listed at a premium of 75 percent on exchanges on November 30. It started trading at Rs 295.40 on the BSE and Rs 298 on the NSE.

Issue Subscription of IPO

On the final day of bidding, the IPO garnered a subscription rate of 64.07 times, demonstrating significant investor enthusiasm.

Qualified institutional buyers booked 129 times their quota of shares. Retail investors booked 28.95 times, and high net-worth individuals 62.2. times.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.

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