MARKET LIVE: Tepid open likely on mixed cues; Tamilnad Mercantile in focus

MARKET LIVE: Tepid open likely on mixed cues; Tamilnad Mercantile in focus


Stock market highlights: 

After starting firm on Thursday, benchmark indices slipped into the red to end lower for a second straight day. The S&P BSE Sensex declined 810 points from the day’s high to hit a low of 59,866 during the day. It, eventually, recouped some of the losses to end at 59,934, down 413 points or 0.68 per cent.

The NSE Nifty, meanwhile, hit a low of 17,861, but ended at 17,877, down 126 points or 0.73 per cent.

IT, pharma, and select metal stocks reeled under pressure today with Hindalco, Infosys, Cipla, Tech M, Tata Steel, Divis Labs, and Apollo Hospitals leading the list of Nifty losers. Additional losers were Hero MotoCorp, Bajaj Finserv, Bajaj Auto, Titan, HDFC Life, and IndusInd Bank, and Bajaj Finance.

On the upside, banking and auto stocks zoomed with Maruti Suzuki, Eicher Motors, HDFC, SBI, ICICI Bank, and M&M rising up to 2.6 per cent. Adani Ports, NTPC, PowerGrid, Grasim, and Coal India were other gainers.

In the broader markets, the BSE MidCap and SmallCap indices advanced 0.3 per cent, and 0.06 per cent, respectively.

Primary market

The three-day IPO of Harsha Engineers International received a bumper response on the second day. Till 3:30 PM, the issue was subscribed 7 times, with retail portion at 7 times, NII at 15.40 times, QIB at 50 per cent, and Employees at 5 times. 

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