Sensex, Nifty50 in Red; Volatility Gauge Up 4%

Sensex and Nifty50 dropped today. Losses in IT, pharma and FMCG shares pulled the headline indices lower, though gains in metal, auto and select financial stocks lent some support. The Nifty Smallcap 100 index was up 0.2 percent but its midcap counterpart flat.

Sensex, Nifty50 in Red

Sensex Updates: CLSA has said FIIs preferred Brazil and South Korea to India in November. They sold Indian equities to the tune of $0.8 billion last month, according to the brokerage. HP Adhesives Limited initial public offering (IPO) was fully subscribed within an hour of opening of the issue on Wednesday.

At 10:50 am, bids for 32,15,350 shares were already received against 25,28,500 shares on offer. Around the same time, retail investors subscribed the issue 6.99 times. The NIIs and QIBs were yet to participate in the issue.

Ashoka Buildcon rises almost 3 percent after the company said it received letter of award for a road construction project in Goa. The company said it has received a letter of award from the Ministry of Road Transport & Highways (‘MoRTH’) in respect of the project, which entails construction of six lane link road (NH-166S) with paved shoulder configuration to Mopa Airport in Goa on EPC mode.

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Sensex, Nifty50 in Red

Shares of Precision Wires India 8 percent at Rs 380.40 on the BSE on Wednesday after the company fixed December 23, 2021, as the record date for stock split from Rs 5 to Re 1 face value per equity share. Burger King India shares rose as much as 3 percent on Wednesday after the company’s board of directors approved fund-raising plans.

The board has approved raising of funds by way of further issuance of securities through public and/or private offerings including preferential issue, qualified institutions placement, further public offer or any of the permissible modes in one or more tranches, for an aggregate amount not exceeding Rs 1,500 crore, Burger King said in an exchange.

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Sensex, Nifty50 in Red; Volatility Gauge Up 4% via @marketinvestor
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