The key indices further pared losses in mid afternoon trade. The Nifty was trading above the 15,800 mark. Banks shares witnesssed selling. Firm crude oil prices and negative Asian cues spoiled investors sentiment.

At 14:24 IST, the barometer index, the S&P BSE Sensex, was down 135.69 points or 0.26% to 52,637.36. The Nifty 50 index lost 53.75 points or 0.34% to 15,815.50.

In the boarder market, the S&P BSE Mid-Cap index slipped 0.61% while the S&P BSE Small-Cap index shed 0.27%.

Sellers outnumbered buyers. On the BSE, 1,495 shares rose and 1,673 shares fell. A total of 135 shares were unchanged.

Primary Market:

The initial public offer (IPO) of Shyam Metalics and Energy received bids for 88.29 crore shares as against 2.10 crore shares on offer, according to the stock exchange data at 14:05 IST on Wednesday (16 June 2021). The issue was subscribed 41.86 times.

The IPO of Sona BLW Precision Forgings received bids for 10.93 crore shares as against 10.71 crore shares on offer, according to the stock exchange data at 14:05 IST on Wednesday (16 June 2021). The issue was subscribed 1.02 times.

These two IPOs opened for subscription on Monday (June 14) and will close today (June 16).

Meanwhile, the IPO of Krishna Institute of Medical Sciences received bids for 26.23 lakh shares as against 1.44 crore shares on offer, according to the stock exchange data at 14:05 IST on Wednesday (16 June 2021). The issue was subscribed 0.18 times.

The initial public offer (IPO) of Dodla Dairy received bids for 62.87 lakh shares as against 85.07 lakh shares on offer, according to the stock exchange data at 14:05 IST on Wednesday (16 June 2021). The issue was subscribed 0.74 times.

The IPOs of Krishna Institute and Dodla Dairy have opened for subscription today (June 16) and will close on Friday (June 18).

Buzzing Index:

The Nifty Bank index fell 0.58% to 35,042.20. The index advanced 0.85% yesterday.

IndusInd Bank (down 1.45%), IDFC First Bank (down 1.26%), RBL Bank (down 1.21%), AU Small Finance Bank (down 1.03%), Federal Bank (down 0.93%), ICICI Bank (down 0.81%), Kotak Mahindra Bank (down 0.50%) and HDFC Bank (down 0.42%) declined.

Meanwhile, Bandhan Bank (up 0.22%) advanced.

Numbers to Watch:

In the foreign exchange market, the partially convertible rupee fell to 73.35 compared with its previous closing of 73.3175.

MCX Gold futures for 5 August 2021 settlement added 0.21% to Rs 48,526.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.10% to 90.44.

The yield on 10-year benchmark federal paper rose to 6.036% from 6.004% recorded at the close of the previous trading session.

In the commodities market, Brent crude for August 2021 settlement rose 10 cents to $74.09 a barrel. The contract added 1.55% or $1.13 to settle at $73.99 in the previous trading session.

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