Share Market News Today | Sensex, Nifty, Share Prices LIVE: BSE Sensex and Nifty 50 were trading over half a per cent down on Wednesday, a day before the weekly F&O expiry.
Nykaa shares made a stellar listing on the stock exchanges today, despite the overall weak market momentum.
The portion reserved for retail investors saw 2.97 times subscription, while the reserved portion of non-institutional investors was subscribed just 6 per cent, and qualified institutional buyers have put in bids for 82,728 shares against 52.70 lakh shares reserved for them.
It is difficult to buy after a big gain at opening however fresh investors can accumulate in parts where they can buy 25℅ at the opening of what they want to invest into this stock while if it witnesses any correction towards 18000 level then they can add more.
Until then it is a wait and watch situation as the markets are not bearish either so traders need to wait for a direction to emerge.
The RBI could start adding USD into their reserve kitty as the rate seems favorable for their book and thus importers are time and again advised to cover on dips close to 73.90-74.00 levels.
Investors should not be carried away by the exuberance in the IPO market where IPOs are made at a huge premium.
Policybazaar parent company PB Fintech’s Rs 5,625-crore IPO, which was subscribed 16.59 times, will finalise the share allotment on Wednesday, 10 November 2021.
The portion reserved for retail investors saw 1.23 times subscription, while the reserved portion of non-institutional investors was subscribed just 5 per cent, and qualified institutional buyers have put in bids for 1.20 crore shares against 2.63 crore shares reserved for them.
Since the last two trading sessions, Nifty has been facing resistance at its 20 period moving average.
The portion reserved for retail investors saw 1.20 times subscription, while the reserved portion of non-institutional investors was subscribed just 4 per cent, and qualified institutional buyers have put in bids for 1.18 crore shares against 2.63 crore shares reserved for them.
In the primary market, Nykaa shares were quoting at a premium of 68 per cent over the issue price of Rs 1,125 per share, according to the people who deal in unlisted shares of the companies.