Market Live Updates Today: Trends on SGX Nifty indicate a cautious opening for the broader indices in India with a loss of 17 points.

Tega Industries trades at solid premium in grey market

After seeing a record rush from qualified institutional buyers (QIB) for its public offering, Tega Industries is slated to go listed on December 13.

Its first public issue, floated on December 1, broke all records of subscription from QIBs in the last decade. By the closing on December 3, the QIB portion was booked 215.5 times, while the issue was oversubscribed by 219 times.

The allotment of Tega Industries shares was finalised on December 8 and the share would be credited to the investors’ demat accounts on December 10.

MapmyIndia IPO updates:

The public offer of CE Info Systems, popularly known for its brand MapmyIndia, continues to see strong demand from investors as it has been subscribed 2.52 times, so far, getting bids for 1.77 crore equity shares against the IPO size of 70.44 lakh equity shares on December 10, the second day of bidding.

Retail investors remained at the forefront to support the issue, putting in bids 4.16 times the portion set aside for them, and that of non-institutional investors saw 1.43 times subscription.

Shriram Properties IPO updates:

The maiden public offer of Shriram Properties, the south-based real estate developer, has received bids for 5.37 crore equity shares against the IPO size of 2.93 crore equity shares, subscribed 1.83 times on the final day.

The issue continued to get healthy response from retail investors, whose reserved portion was subscribed 9.43 times, while the part set aside for employees was booked 98 percent. Non-institutional investors have put in bids for 22 percent shares of their reserved portion, and qualified institutional buyers (QIBs) have bid for 12 percent.

Metro Brands IPO subscribed 11% on first day of bidding

The public issue of footwear retail company Metro Brands has been subscribed 11 percent, so far, garnering bids for 21.89 lakh equity shares against the IPO size of 1.91 crore equity shares on December 10.

The company is planning to raise Rs 1,367.5 crore via the initial public offering that consists of a fresh issue of Rs 295 crore and an offer for sale of 2,14,50,100 equity shares by promoters.

The portion set aside for retail investors was subscribed 23 percent.

Qualified institutional investors and non-institutional investors are yet to put in their bids for the offer.

Raymond gains 3% after JK Files & Engineering files DRHP with SEBI for IPO

Raymond-promoted JK Files & Engineering has filed draft red herring prospectus with the capital markets regulator Sebi to raise funds via initial public offering.

The company is planning to raise Rs 800 crore through its public issue that comprises entirely an offer for sale by the promoter Raymond. Hence the company will not get any money from public issue and all the money will go to selling shareholder.

The offer will include reservation of shares for employees and shareholders.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 1,585.55 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 782.84 crore in the Indian equity market on December 9, as per provisional data available on the NSE.

Japan's wholesale inflation hits record high as price pressure broadens

Japan's wholesale inflation hit a record 9.0% in November, pushing gains for a ninth straight month, a sign upward pressure on prices from supply bottlenecks and rising raw material costs were broadening.

The year-on-year rise in the corporate goods price index (CGPI), which measures the prices companies charge each other for their goods and services, was the fastest pace since comparable data became available in 1981. It exceeded a median market forecast for an 8.5% gain and a revised 8.3% rise in October, Bank of Japan data showed on Friday.

New US jobless claims again drop to 1969 levels

New filings for US unemployment aid dropped sharply last week, bringing them to levels not seen since 1969 for the second time this year, the government said Thursday. The Labor Department said 184,000 new seasonally adjusted claims for jobless aid were made last week, much less than expected and 43,000 less than the previous week's level.

Jobless claims have now dropped below their level before the Covid-19 pandemic, after spiking into the millions as businesses closed and laid off staff in March 2020, then recovering throughout much of this year as vaccines allowed normal business to resume.

Oil settles lower as China developer downgrades add to fears of demand outlook

Oil prices settled lower on Thursday on fears about the economic outlook in the world's biggest oil importer following ratings downgrades to two Chinese property developers, and after some governments took measures to fight the Omicron variant of the coronavirus.

Brent crude futures settled down $1.40, or 1.9%, to $74.42 a barrel, backing off a session high of $76.70. U.S. West Texas Intermediate (WTI) crude futures were down $1.42, or 2%, at $70.94 after hitting a peak of $73.34.

SEBI mulls regulatory framework for algo trading by retail investors

Capital markets regulator SEBI on Thursday proposed regulatory framework for algorithmic trading (algo trading) by retail investors to make such trading safe and prevent market manipulations. In its consultation paper, the regulator has proposed framework for algo trading done by retail investors including use of Application Programming Interface (API) access and automation of trades.

"This kind of unregulated/unapproved algos pose a risk to the market and can be mis-used for systematic market manipulation as well as to lure the retail investors by guaranteeing them higher returns. The potential loss in case of failed algo strategy is huge for retail investor,” SEBI said.