Market Wrap Podcast, May 4: Here’s all that happened in the markets today

Persistent selling by FIIs, and higher-than-expected producer inflation in China kept market mood in check on Wednesday. The S&P BSE Sensex ended with a loss of 80 points at 60,353 while it’s NSE counterpart Nifty50 settled with a loss of 27 points at 18,017.

Bharti Airtel was the top gainer on the Sensex, up 3.3 per cent to Rs 737. Mahindra & Mahindra, Sun Pharma, Reliance and ITC were the other notable gainers.

On the other hand, IndusInd Bank slipped over 3 per cent to Rs 1,034. This was followed by Tata Steel Asian Paints, Titan, SBI, PowerGrid Corporation, HDFC Bank, Kotak Bank and Maruti as the other prominent losers.

Among sectoral indices, the Metal and Realty indices shed up to 2 per cent. On the positive side, the Telecom index jumped 2 per cent, while the Energy index was up a per cent.

In the broader markets, the BSE Midcap index index declined 0.6 per cent, while the Smallcap index ended flat.

Debutant Nykaa listed on the NSE at Rs 2,018 apiece, up 79 per cent over its issue price of Rs 1,125. The shares doubled from its issue price when they touched the day’s high of Rs 2,248. In the process, the company’s market capitalisation crossed Rs 1-trillion mark and entered the top-60 most valuable companies on the BSE. The stock finally ended with a solid premium of 96 per cent at Rs 2,206, on the back of heavy volume of around 34.32 million shares on the BSE.

The primary market, on the other hand, was abuzz with activity.

To begin with, the three-day share sale by Paytm, India’s biggest IPO so far, finally managed to sail through on the final day. It has been subscribed nearly 2 times so far, backed by retail and QIB investors.

Meanwhile, Latest View Analytics’ public offer, which opened today, was fully subscribed within 45 minutes of opening. It has been subscribed over 5 times so far.

Sapphire Foods, too, sailed through on the second day and has been subscribed 92 per cent so far.

Separately, Pharmeasy has filed its draft red herring prospectus with regulator to raise Rs 6,250 crore in an initial public offering.

Also, leading life sciences company Tarsons Products has fixed a price band of Rs 635-662 a share for its Rs 1,024-crore initial share-sale. The IPO will open on November 15 and conclude on November 17.

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