Stock Market Today: Domestic indices witnessed significant volatility on Thursday after the US Federal Reserve Reserve hiked interest rates in-line with the markets’ expectations by 25 bps. The monthly F&O expiry for the July series also weighed on the sentiment.
The NSE Nifty 50 touched a high of 19,868, and then reversed course and plunged to a low of 19,604 –down 264 points in intra-day deals. The NSE benchmark finally ended 118 points lower at 19,660. However, the Nifty 50 signed-off the July F&O series with a strong 3.6 per cent gain.
Meanwhile, the S&P BSE Sensex had rallied to a high of 66,984 and was up 277 points at the high point of the day. Thereafter, the BSE index slipped into red and tumbled to a low of 66,061 – down 932 points from the day’s high. The Sensex eventually ended the day with a loss of 440 points at 66,267.
Among the Sensex 30 stocks, Mahindra & Mahindra (M&M) cracked over 6 per cent after the company picked up a 3.53 per cent stake in private sector lender RBL Bank for Rs 417 crore.
Tech Mahindra shed 4 per cent post Q1 results. Nestle, Bajaj Finance, Axis Bank, JSW Steel, Kotak Mahindra Bank, ITC and Reliance Industries were down 1 – 2 per cent each. On the positive side, Sun Pharma gained 2 per cent. Tata Motors, Bharti Airtel and Larsen & Toubro were the other visible gainers.
Sectorally, auto and energy shares bore brunt of the selling pressure on Thursday, while pharma and realty stocks bucked the trend. The BSE Auto & Oil & Gas indices were down over a per cent each, while Pharma and Realty indices rallied over 2 per cent each.
The broader market managed to hold gains, the BSE MidCap index added 0.5 per cent, while the SmallCap was up 0.1 per cent.
Debutant Netweb Technologies India ended Day 1 on the bourses with a strong gain of 82 per cent at Rs 911 as against the issue price of Rs 500 per share.
Yatharth Hospital IPO subscribed 1.74 times on Day 2 of bidding
The initial public offering (IPO) of Yatharth Hospital and Trauma Care Services continued to get a good response from investors on July 27, the second day of bidding, as well, with the offer subscribed 1.74 times.
By noon, bids had come in for 2.87 crore equity shares against the IPO size of 1.65 crore shares.
High networth individuals (HNIs) and retail investors have bought 2.92 times and 2.06 times their allotted quotas, while qualified institutional buyers (QIBs) bid for 26 percent of the shares set aside for them.
Half of the issue, which closes July 28, has been reserved for QIBs, 15 percent for HNIs and the remaining 35 percent for retail investors.
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