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Benchmark equity indices closed lower, dragged by losses in metal, auto, IT and pharma stocks as well as concerns over rising global inflation. The Sensex closed 0.62% lower at 59636.01 and Nifty fell 0.75% to 17764.80.
Top losers were in Nifty sectoral indices were Auto (-2.61%), Metal (-2.59%), IT (-1.78%) and Pharma (-1.03%). Other Nifty sectoral indices also ended in the red except PSU Bank which inched up 0.07%.
Indian rupee inched up 3 paise to close at 74.26 against the US dollar on Thursday.
BSE and NSE have informed that Friday (November 19, 2021) will be a trading holiday on account of Gurunanak Jayanti.
Stock in News Today
Paytm: The fintech company’s shares crashed on its stock market debut and closed at Rs 1560.80, down 37.75% from its issue price of Rs 2150. Macquarie Research report said Paytm’s business model lacks focus and direction and it has kept a target price of Rs 1,200 per equity share.
Sapphire Foods: The quick service restaurant company made a positive stock market debut as its shares listed at Rs 1,350, a 14% premium to issue price of Rs 1,180 per share. The company hit a high of Rs 1380.05. However, it lost earlier gains and closed at Rs 1211.55.
Escorts Limited: The company hit a record high after Japan-based Kubota Corporation acquired a stake in the company. Escorts sold 5% stake of 96.64 lakh equity shares to Kubota at Rs 2,000 per equity share and raised Rs 1,872.74 crore by way of preferential issue.
GMR Infrastructure Limited: The company’s subsidiary, GMR Airports Limited (GAL), has won the bid to develop and operate the Kualanamu International Airport (Medan Airport) in Medan, Indonesia. The group is expected to partner with the state-owned enterprise, Angkasa Pura 2 (AP2) on a 49:51 basis.