Indices trade near flat line; breath turns positive

The key equity barometers traded with small gains in mid-morning trade. The Nifty traded above the 21,450 mark.

At 11:28 IST, the barometer index, the S&P BSE Sensex, was up 12.86 points or 0.02% to 71,496.61. The Nifty 50 index added 16.10 points or 0.08% to 21,472.75.

In the broader market, the S&P BSE Mid-Cap index rose 0.38% and the S&P BSE Small-Cap index gained 0.62%.

The market breadth was positive. On the BSE, 2,253 shares rose and 1,429 shares fell. A total of 180 shares were unchanged.

IPO Updates:

The initial public offer (IPO) of Motisons Jewellers received bids for 8,13,91,000 shares as against 2,08,71,000 shares on offer, according to stock exchange data at 11:33 IST on Monday (18 December 2023). The issue was subscribed 3.90 times.

The issue opened for bidding on Monday (18 December 2023) and it will close on Wednesday (20 December 2023). The price band of the IPO is fixed at Rs 52-55 per share. An investor can bid for a minimum of 250 equity shares and in multiples thereof.

The IPO of Suraj Estate Developers received bids for 13,57,305 shares as against 82,35,293 shares on offer, according to stock exchange data at 11:33 IST on Monday (18 December 2023). The issue was subscribed 0.16 times.

The issue opened for bidding on Monday (18 December 2023) and it will close on Wednesday (20 December 2023). The price band of the IPO is fixed at Rs 340-360 per share. An investor can bid for a minimum of 41 equity shares and in multiples thereof.

The IPO of Muthoot Microfin received bids for 57,23,832 shares as against 2,43,87,447 shares on offer, according to stock exchange data at 11:33 IST on Monday (18 December 2023). The issue was subscribed 0.23 times.

The issue opened for bidding on Monday (18 December 2023) and it will close on Wednesday (20 December 2023). The price band of the IPO is fixed at Rs 277-291 per share. An investor can bid for a minimum of 51 equity shares and in multiples thereof.

The IPO of INOX India received bids for 17,45,24,240 shares as against 1,54,77,670 shares on offer, according to stock exchange data at 11:33 IST on Monday (18 December 2023). The issue was subscribed 11.28 times.

The issue opened for bidding on Thursday (14 December 2023) and it will close on Monday (18 December 2023). The price band of the IPO is fixed at Rs 627-660 per share. An investor can bid for a minimum of 22 equity shares and in multiples thereof.

Stocks in Spotlight:

Ambuja Cements added 1.01% after the company said that it has committed a significant investment of Rs. 6,000 crore in renewable power projects, targeting a capacity of 1,000 MW.

Oriental Rail Infrastructure was locked in an upper circuit of 5% after the company secured an order worth Rs 12.14 crore from modern coach factory (MCF) in Raebareli, Uttar Pradesh.

Salasar Techno Engineering jumped 5.24% after the company announced that its board will meet Wednesday (20 December 2023) to consider and recommend a proposal of declaration of bonus shares to its shareholders.

Global Markets:

Most of the Asian stocks declined on Monday ahead of Japan`s monetary policy decision on Tuesday. The BOJ is likely to maintain its benchmark interest rate at -0.1%, as per reports.

US stocks ended mixed on Friday. Comments on Friday by Fed Bank of New York President John Williams that it was too soon to be talking about rate cuts, however, dampened some of the day`s optimism.

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