Market Wrap, Nov 27: Here's all that happened in the markets today
The benchmark indices ended Friday's volatile session in the negative territory ahead of the release of gross domestic product (GDP) numbers for the second quarter (July-September period) of the current fiscal, due later in the day. The S&P BSE Sensex slipped 110 points, or 0.25 per cent to 44,150 levels and the Nifty50 index ended at 12,969, down 18 points, or 0.14 per cent. Power Grid, HCL Tech, and ONGC (all down around 2 per cent) were the top Sensex laggards. On a weekly basis, Sensex gained 0.6 per cent while Nifty added 0.85 per cent. The broader market, however, outperformed the benchmark indices today. While the S&P BSE MidCap index surged 1.91 per cent to 16,915, the S&P BSE SmallCap index rallied an impressive 2.4 per cent to 16,875 levels. Among sectoral indices, barring Nifty IT, all other indices ended in the green. Nifty Auto gained 1.41 per cent while Nifty Realty surged 2.65 per cent. The domestic equity and currency markets will remain shut on Monday, November 30, on account of Gurunanak Jayanti. Among buzzing stocks, shares of gas transmission companies rallied up to 19 per cent on the BSE during the day after oil regulator Petroleum and Natural Gas Regulatory Board (PNGRB) notified regulations for unified gas transmission tariff structure. Shares of Vakrangee rallied nearly 11 per cent , thereby surging over 24 per cent in the past two trading days, after its board approved the withdrew amalgamation scheme for two wholly-owned subsidiaries due to "substantial changes in the business environment." Primary market The initial public offering (IPO) of quick-service restaurant (QSR) chain Burger King India Ltd will open on December 2, for three days. The price band for the IPO has been set at Rs 59-60 per share. The company aims to raise Rs 810 crore through the issue which comprises a fresh issue of shares worth Rs 450 crore, and an offer for sale of up to 60 million shares by promoter entity QSR Asia Pte Ltd worth Rs 360 crore, at the upper end of the price band. On the global front, Asian shares stalled near record highs on Friday as investors weighed renewed doubts about a highly-anticipated coronavirus vaccine against hopes that some of the region’s economies will recovery quicker than their Western peers. Oil prices traded lower in quiet trade due to the US Thanksgiving holiday, dropping amid concerns about oversupply and doubts about a vaccine to end the coronavirus pandemic.