Stock Market Round-Up News 23rd November 2023

Healthcare index was down 1 percent and Information Technology index shed 0.5 percent. On the other hand, realty and oil & gas indices added 1 percent each while auto index was up 0.5 percent. Stock Market Round-Up News 23rd November 2023

The Indian benchmark indices ended on a flat note in the volatile session on November 23. Sensex was down 5 points at 66,017 mark while Nifty shed 9 points and ended the session at 19,802 level.

Mixed trend was seen on the sectoral front, with healthcare index down 1 percent and Information Technology index down 0.5 percent. On the other hand, realty and oil & gas indices added 1 percent each while auto index was up 0.5 percent.

The BSE midcap index ended with marginal gains, while smallcap index rose 0.4 percent.

From the realty space, buying was seen in Phoenix Mills, Oberoi Realty and Sobha which gained 2-3 percent each followed by Lodha, Brigade Enterprises and Prestige Estates.

The oil & gas stocks which returned the most included HPCL which surged over 6 percent followed by Indian Oil Corporation and BPCL which added over 2 percent each.

However, selling was seen in pharma names including Cipla which declined over 7 percent after CNBC-TV18 reported details of the warning letter issued to the firm’s Madhya Pradesh unit by the United States Food and Drug administration.

In an exchange filing on November 18, the pharma company said it received a warning letter from the USFDA for routine good manufacturing practices (GMP) inspection at its Pithampur facility between February 6 and 7, 2023.

The other losers included Aurobindo Pharma, IPCA Labs and Lupin.

Among IT names, stocks like Persistent Systems, down over 3 percent followed by LTI Mindtree, TCS and Infosys dragged the most.

Top Nifty50 Gainers:                                         Top Nifty50 Losers:

Most Active Stocks on NSE in terms of Volumes:

Oil slips 1% on growing angst over delayed OPEC+ meeting

Oil prices dipped roughly 1 percent on Thursday, extending losses from the previous session, after OPEC+ postponed a meeting, triggering speculation that the group may not deepen output cuts next year due to dissenting African members.

Brent futures were down 85 cents, or about 1%, at $81.11 a barrel, after falling as much as 4 percent on Wednesday. US West Texas Intermediate crude slid 71 cents, also about 1 percent, to $76.39, after declining as much as 5 percent in the previous session, according to a Reuters report.

Asian Markets end muted

Asian equity markets ended mixed on November 23 with Nikkei up 0.29 percent followed by Hang Seng which added 1 percent and Kospi up 0.13 percent. 

Tata Technologies IPO:

Investors continued to be bullish on the Tata Technologies IPO with 61.17 crore equity shares being bought by the second day of bidding against an offer size of 4.5 crore, leading to a 13.59 times subscription.

The response remained strong from all categories of investors with high net-worth individuals subscribing 28.12 times the allotted quota and retail investors 10.63 times as of 3.42 PM. The reserved portion of qualified institutional buyers was booked 7.09 times.

Employees of Tata Technologies and shareholders of Tata Motors also participated in the offer from day one, buying 2.2 times and 18.71 times the portions set aside for them.

Fedbank Financial Services IPO:

Fedbank Financial Services IPO has been subscribed 79 percent so far on day 2 of bidding, November 23, with bids coming in for 4.4 crore shares against the issue size of 5.6 crore shares. 

Retail investors bought 1.09 times of their quota, non-institutional investors (NIIs) picked up 37 percent, while the portion set aside for qualified institutional buyers (QIBs) was subscribed 56 percent to the issue.

Flair Writing Industries IPO:

Flair Writing Industries IPO has been subscribed 5.32 times on the second day of bidding, with bids coming in for 7.67 crore shares against the issue size of 1.44 crore. 

Retail investors bought 6.31 times their quota of shares, NIIs 8.33 times and QIBs 1.34 times the allotted quota.

IREDA IPO:

IPO has been subscribed 38.04 times, as investors bid for 180.5 crore shares against an offer size of 47.09 crore on the final day of bidding. 

NIIs have bought 24.04 times their allotted quota and retail investors 7.37 times. The portion set aside for QIBs has been subscribed 103 times.

Gandhar Oil Refinery IPO:

Gandhar Oil Refinery IPO has been subscribed 13.77 times on day 2, with bids coming in for 29.25 crore shares against 2.12 crore offered shares. 

NIIs booked 22.54 times and retail investors booked 15.93 times their quota of shares. The portion set aside for QIBs has been subscribed 3.07 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.