The key equity barometers were hovering near the day's low with deep losses in afternoon trade. Negative global cues triggered profit selling in domestic shares. The Nifty 50 index was trading near the 18,670 mark after hitting the record high of 18,887.60 in the previous session. The 50-unit index jumped 3.59% in the past eight session.
At 13:30 IST, the barometer index, the S&P BSE Sensex, was down 549.41 points or 0.87% to 62,734.78. The Nifty 50 index shed 146.80 points or 0.78% to 18,665.70.
The broader market outperformed the headline indices. The S&P BSE Mid-Cap index rose 0.58% while the S&P BSE Small-Cap index added 0.50%.
The market breadth was positive. On the BSE, 1883 shares rose and 1508 shares fell. A total of 162 shares were unchanged.
Apollo Hospitals Enterprise (up 1.81%), Tata Steel (up 1.17%), ONGC (up 0.96%), Tech Mahindra (up 0.86%) and Grasim Industries (up 0.85%) were top Nifty gainers.
Eicher Motors (down 2.92%), M&M (down 2.29%), Tata Consumer Products (down 1.91%), Hindustan Unilever (down 1.83%) and Hero Motocorp (down 1.64%) were major Nifty losers.
Economy:
India's gross Goods and Services Tax (GST) revenue collection in the last month was over Rs 1,45,000 crore. This is the straight ninth month when the monthly GST revenue collection is more than Rs 1,40,000 crore.
The Finance Ministry said GST revenue collection in the month of November 2022 has registered a growth of 11% in comparison to the corresponding month of the last year. It said more than Rs 1,31,000 crore worth of GST collection were made in November 2021.
IPO Update:
The initial public offer (IPO) of Uniparts India received bids for 6,18,62,225 shares as against 1,01,37,360 shares on offer, according to stock exchange data at 13:21 IST on Friday (2 December 2022). The issue was subscribed 6.10 times.
The issue opened for bidding on Wednesday (30 November 2022) and it will close on Friday (2 December 2022). The price band of the IPO is fixed at Rs 548-577 per share. An investor can bid for a minimum of 25 equity shares and in multiples thereof.
Global Markets:
Asian stocks tumbled on Friday as investors looked for clarity after China signaled slight easing of its stringent Covid restrictions.
South Korea's consumer prices rose 5% in November from a year earlier, government data showed on Friday. The November inflation rate compared with 5.7% in October. The country's inflation rate has been falling since hitting a 24-year high of 6.3% in July as global energy prices eased and the economy slowed.
US stocks ended mixed on Thursday as investors awaited jobs data coming Friday that could determine the pace of the Federal Reserve's future rate tightening.
Powered by Capital Market - Live News