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Stock Market Live Updates: SGX Nifty hints at positive start for Sensex, Nifty; MapMyIndia shares to list today
Stock Market Live Updates Today, 21 December 2021: On December 20, the BSE Sensex plunged 1,190 points, or 2.09 percent, to 55,822, while the Nifty50 declined 371 points, or 2.18 percent, to 16,614 and formed a bearish candle on the daily charts. However, the market saw a bit of recovery in the last couple of hours of trade.
According to pivot charts, the key support levels for the Nifty are placed at 16,402.9, followed by 16,191.6. If the index moves up, the key resistance levels to watch out for are 16,832.8 and 17,051.4.
Shares of CE Info Systems (MapMyIndia) will list on the stock exchanges today. The Rs 1,039 crore public issue, which was entirely an offer for sale, was heavily oversubscribed by investors earlier this month. Qualified Institutional Buyers (QIB) had bid for the IPO 196 times while the Non-Institutional Investor portion was subscribed a massive 424.69 times. The retail category was subscribed 15.2 times, taking the overall subscription tally to 154.71 times. Shares of MapMyIndia were offered to investors in a fixed price band of Rs 1000-1033 per equity share. Ahead of the listing day, shares of MapMyIndia were trading at a strong premium of over Rs 600 per share in the grey market.
Live Updates
- 21 Dec 2021 3:42 AM GMT
MapmyIndia to debut today
CE Info Systems, widely known as MapmyIndia, will make its debut on the bourses on December 21. Experts largely feel the listing premium could be in the range of 50-80 percent over the issue price, though there could be some impact of current market volatility.
The expected listing premium is largely attributed to the company's healthy financials with no debt burden, and stellar subscription to its initial public offering (IPO).
MapmyIndia, which offers proprietary digital maps as a service (MaaS), software as a service (SaaS) and platform as a service (PaaS), received tremendous response from investors as the offer was subscribed 154.71 times during December 9-13 with support from all kind of investors.
Non-institutional investors bought shares 424.69 times the portion set aside for them, the qualified institutional buyers’ portion was booked 196.36 times, while the reserved portion for retail investors was subscribed 15.20 times.
- 21 Dec 2021 3:41 AM GMT
Asian Markets
Asian indices are trading higher on Tuesday, with Nikkei gained nearly 2 percent, while Straits Times, Hang Seng up 0.5 percent each.
- 21 Dec 2021 3:41 AM GMT
US Markets
U.S. stocks ended trading on Monday down by more than 1%, pressured lower by surging Omicron coronavirus cases and a possible fatal blow to a $1.75 trillion U.S. domestic spending bill, with oil prices plunging.
The Dow Jones Industrial Average closed 1.23% lower at 34,932.16, while the S&P 500 ended the day down 1.14% at 4,568.02. The Nasdaq Composite dropped 1.24% to 14,980.94.
