Market Walk

Top Market Highlights Of The Day – Dec 20th 2021

Indices

Sensex and Nifty50 are likely to start the week on a negative note amid weakness across global markets. At 7:39 am, Singapore Exchange (SGX) Nifty futures were down 72.5 points or 0.4 percent at 16,946.5, suggesting a lower opening ahead on Dalal Street.

Source: Internet

Shriram Properties IPO GMP today is ₹15

Shares of Shriram Properties are going to list on NSE and BSE on 20th December 2021. While allottees are busy calculating the listing gain they can expect from the real estate company on its listing date, the grey market is signaling marginal listing gain from the public issue. According to market observers, shares of Shriram Properties are available at a premium of 15 in the grey market today, which is around 10 percent higher than the upper price band of 118 per equity share

Source: Internet

Nifty saw wealth erosion to the tune of Rs.261,812 crore

For the week ended on 17th December, a total of 8 out of the top-10 most valuable companies by market cap on the Nifty saw wealth erosion to the tune of Rs.261,812 crore. While RIL was the big loser, gains were seen in Infy and Wipro. Reliance lost Rs.79,658 crore, HDFC Rs.34,690 crore, Bajaj Finance Rs. 33,152 crore, HDFC Bank Rs.27,298 crore, Hindustan Unilever Rs.24,083, SBI Rs.24,052 crore, ICICI Bank Rs.20,623 crore and TCS Rs.18,252 crore. Among gainers; Infosys gained Rs.26,516 crore and Wipro Rs.17,450 crore.

LIC IPO may not happen in this fiscal

In what could be a big setback for the government disinvestment collections in FY22, the LIC IPO may not happen in this fiscal due to delays in the valuation. While the DIPAM Secretary, Tuhin Kant Pandey, was still optimistic about completing the LIC IPO by March 2022, experts increasingly are of the view that it would be impractical to expect. Even after the valuation was completed, there would be regulatory gaps to be filled up. LIC IPO will have to be vetted by SEBI and IRDA. It looks like FY23 would be more practical.

FPI pulled out a total of Rs.17,696 crore from Indian markets

Foreign portfolio investors pulled out a total of Rs.17,696 crore from Indian markets in the first 3 weeks of Dec-21. The selling was largely driven by the Omicron variant, faster tapering by the Federal and rising inflation in India. Overall, FPIs net sold Rs.13,470 crore in equities and Rs.4,226 crore in debt. The equity selling would have been much worse, but for the IPO flows from QIBs. Clearly, the over-owned banking sector is attracting the bulk of the selling by FPIs. However, other EMs have been seeing strong inflows.

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