Sensex slips 108 pts, broader mkt outperforms

The benchmark indices continued to trade with minor losses in mid-morning trade. The Nifty hovered around the 19,100 level after hitting the day�s high of 19,233.70 in early trade. Pharma shares declined after advancing in the past two trading sessions.

At 11:30 IST, the barometer index, the S&P BSE Sensex, was down 107.95 points or 0.17% to 64,004.70. The Nifty 50 index shed 34.75 points or 0.18% to 19,106.15.

The broader market outperformed the key indices. The S&P BSE Mid-Cap index rose 0.37% while the S&P BSE Small-Cap index gained 0.50%.

The market breadth is positive. On the BSE, 1,994 shares rose and 1,403 shares fell. A total of 143 shares were unchanged.

IPO Update:

The initial public offer (IPO) of Honasa Consumer received bids for 8,22,480 shares as against 2,88,99,514 shares on offer, according to stock exchange data at 11:21 IST on Tuesday (31 October 2023). The issue was subscribed 0.03 times.

The issue opened for bidding on Tuesday (31 October 2023) and it will close on Thursday (2 November 2023). The price band of the IPO is fixed at Rs 308-324 per share. An investor can bid for a minimum of 46 equity shares and in multiples thereof.

The initial public offer (IPO) of Cello World received bids for 1,34,81,220 shares as against 2,20,61,947 shares on offer, according to stock exchange data at 11:24 IST on Tuesday (31 October 2023). The issue was subscribed 0.61 times.

The issue opened for bidding on Monday (30 October 2023) and it will close on Wednesday (1 November 2023). The price band of the IPO is fixed at Rs 617-648 per share. An investor can bid for a minimum of 23 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Pharma index declined 0.77% to 14,661.60. The index added 0.87% in the past two trading sessions.

Sun Pharmaceuticals Industries (down 3.76%), Granules India (down 1.13%), Biocon (down 1.06%), Lupin (down 0.64%), Aurobindo Pharma (down 0.59%), Zydus Lifesciences (down 0.53%), Divis Laboratories (down 0.47%), Torrent Pharmaceuticals (down 0.3%), Glenmark Pharmaceuticals (down 0.27%) and Glaxosmithkline Pharmaceuticals (down 0.21%) edged lower.

Global Markets:

Most of the Asian stocks were trading lower on Tuesday ahead of a key monetary policy decision by the Bank of Japan, and as investors assessed manufacturing data from China.

The Bank of Japan will conclude its two-day policy meeting later in the day, with investors watching for any signs of the central bank raising its inflation forecasts. The U.S. Federal Reserve and Bank of England are also meeting this week. The U.S. monthly jobs report is due on Friday.

China purchasing manager�s index data for October came in at 49.5. A PMI reading below 50 signifies a contraction.

US stocks rallied on Monday as traders started a big week filled with a Federal Reserve rate decision, employment report and Apple�s earnings.

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