Sensex Falls 300 Points; L&T and Infosys Top Losers

Wed, 8 Jan 12:30 pm

   Previous Close   

   Pre-Open   

   09:30 am   

   Closing   

Share markets in India are presently trading on a negative note. Benchmark indices fell nearly 1% in early trade today tracking a decline in global markets after Iran fired missiles at multiple bases housing US troops in Iraq.

Barring telecom sector, all sectoral indices are trading on a negative note with stocks in the metal sector, realty sector and automobile sector witnessing most of the selling pressure.

The BSE Sensex is trading down by 277 points (down 0.7%), while the NSE Nifty is trading down by 92 points (down 0.8%).

The BSE MidCap index is trading down by 0.6%, while the BSE SmallCap index is trading down by 0.3%.

The rupee is currently trading at 71.03 against the US$.

The domestic currency opened lower by 19 paise at 72.02 per dollar versus previous close 71.83.

In latest developments from the IPO space, Shriram Properties has reduced the size of its proposed initial public offering (IPO) to Rs 7.5 billion. The developer had planned to raise up to Rs 12.5 billion earlier.

The Bengaluru-based builder, part of the Shriram Group, had received approval from capital markets regulator to float an IPO in April 2018.

Reportedly, the company is planning to launch its IPO after the Union Budget in February.

Shriram Properties, which has projects largely in southern property markets such as Chennai and Bengaluru, has Rs 5.9 billion of debt, and will mainly use the proceeds of the share sale to pare its leverage level.

The developer plans to raise around Rs 2.5 billion through the primary market and the rest from the secondary market.

Reports state that the company has already got commitments of around Rs 4 billion from around nine investors. Shriram Properties currently has Tata Capital, TPG, Starwood Capital Group and Walton Street Capital as entity-level investors.

Note that the real estate sector has been going through a prolonged slowdown. This has impacted the residential segment the most and IPOs have largely been out of favour.

Mumbai-based Lodha Group, which got regulator's approval for an IPO in July 2018, decided not to launch the share sale till the overall market and real estate sector conditions turned conducive.

How this IPO sails through remains to be seen.

Speaking of IPOs, note that the year 2019 didn't see much activity in the IPO market. Since the start of the year, there were just 16 IPOs on the BSE main board.

Even the ones that hit the primary markets were mostly small to mid-sized IPOs. And no mega IPOs.

Very few companies come out with IPOs during bearish market conditions. So, when the IPO market is sluggish, you must take that as an indicator of market sentiment and liquidity conditions.

It is interesting to note that despite the tepid market conditions, most of the companies gave positive listing day gains.

In fact, if you had invested in each one of them and held them till now, your gains would have been even better.

The chart below shows the top five performing IPOs of 2019:

Top 5 Winning IPOs of 2019

So, unlike bull markets wherein selling shareholders do their best to squeeze the highest price, bear markets often offer fantastic opportunities to spot great companies and get onboard early on.

Moving on to news from the pharma sector, Biocon's subsidiary - Biocon Biologics India has received its board approval for primary equity investment by True North.

As per the terms of the proposed agreement, True North will invest Rs 5.4 billion in Biocon Biologics that will eventually translate to a 2.4% minority stake in the biosimilars business post all restructuring.

Post the completion of this transaction, Biocon will hold 96.07% stake in Biocon Biologics.

Biocon share price is presently trading down by 0.6%.

Speaking of the pharma sector, in the video below, Tanushree talks in great detail about the pharma sector.

She tells us where the sector stands now and also about the potential for a rebound.

Tune in to find out more...

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers