Sensex and Nifty 50 trading in red
Domestic equity market benchmarks Sensex and Nifty 50 are trading in the red on Wednesday. BSE Sensex gave up the crucial 52,000 level while the broader Nifty 50 index fell below the psychological 15,300. Sensex is down by 155 points or 0.30% to 51,949, while the broader Nifty 50 index is ruling at 15,274, down by 39 points or 0.25%.
The Rs 100-crore IPO of Nureca Ltd was subscribed 15 times on second of the bidding process. The issue will close for a subscription today. The equity shares of Nureca are proposed to be listed on BSE and NSE. While the Rs 820-crore initial public offering (IPO) of RailTel Corporation of India (RailTel) was subscribed 2.6 times on first day of the bidding process. The price band of the issue was fixed at Rs 93-94 per share with a face value of Rs 10. Minimum application size for the issue has to be 155 equity shares.
On Tuesday, foreign institutional investors (FIIs) net bought shares worth Rs 1,144.09 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 1,559.53 crore in the Indian equity market.
Highlights of the stock market on 17 February 2021:
- Bitcoin crosses the $50,000 mark as more companies signal it may gain widespread acceptance.
- Gold may remain under pressure.
- Jeff Bezos becomes world’s richest person again as Elon Musk fortune falls with Tesla share price.
- Barring Nifty PSU Bank index, all the sectoral indices are trading in the red. The nifty Metal index was down 0.84%, while the Nifty Financial Services index slipped 0.64%. On the flip side, Nifty PSU Bank index gained 1.75%.
- Stocks in focus on 17 February 2021: Adani Ports, Future Retail, Nestle India, Tech Mahindra, Nureca, Railtel.
- Stocks of IndusInd Bank, UltraTech Cement, Bajaj-Auto, Reliance Industries Ltd (RIL), State Bank of India (SBI) were among Sensex gainers.