Closing Bell: Indices end flat, Nifty slips below 19,850 while Sensex stays around 66000; Healthcare and Pharma drops more than 1% The benchmark equity indices closed Tuesday’s trading session in negative territory. The NSE Nifty 50 ended down by 9.85 points or 0.05% to settle at 19,802.00, while the BSE Sensex ended flat, slight down by 5.43 points or 0.01% to 66,017.81.Bank Nifty index gained over 127.90 points or 0.29% to settle at 43,577.50. The broader indices ended largely in positive territory, with gain led by Smallcap and Midcap stocks. Oil & Gas and Metal stocks gained among the other sectoral indices while Pharma and Healthcare stocks shed. Nair also said that, that range-bound momentum continued on main indexes as the market looked for new triggers for a decisive move beyond the 19800 level. However, broad markets’ undercurrent is strong and rapid buying has emerged in the mid- and small-cap counters as bargaining strategy arose on recent underperforming stocks. Hero MotoCorp, Bajaj Auto, BPCL, IndusInd Bank and, Eicher Motors, were the top gainers on the NSE Nifty 50, while the laggers include Cipla, Ultra Tech Cement, SBI Life Insurance, LTI Mindtree, and Larsen & Tourbo. The Indian Volatility Index (India VIX) closed down by 4.63 %.
Through the funds raised as a part of the fresh issue of equity shares, Paradeep Phosphates plans to part-finance the acquisition of the Goa Facility and repayment/prepayment of certain of the borrowings.
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FII and DII trades: Foreign Institutional Investors (FII) have been net buyers of domestic stocks for successive days now. On Wednesday, FIIs pumped in Rs 2,347 crore. Domestic Institutional Investors (DII) have been net sellers, pulling out Rs 510 crore yesterday.
IPO watch: Syrma SGS Technology enters the final day of bidding today. So far the issue, that opened last week, has been subscribed 2.27 times. Retail investors have subscribed their portion 2.66 times while NIIs have bid for their quota 3.58 times and QIB portion has been bid for 0.71 times.