NEW DELHI :
Benchmark indices are trading in the red on selling pressure as investors booked profits. Indian bourses have followed Asian and global cues and opened with gaps down. The volatility index showed more than 2% gains. Auto and pharma sectors were the only two sectors on Nifty that were in the green with about 0.3% gains. Nykaa’s parent company, FSN E-Commerce Ventures Limited, made stock markets debut on Wednesday at a premium of 79%.
Group A stocks with up to 10% gains
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Rupee slips 7 paise to 74.12 against US dollar in early trade
Paytm IPO
The IPO of Paytm parent One97 Communications Ltd has been subscribed 0.51 times as of 10:20 am on the last day of the offer. Retail individual investor category shares got bids of 1.29 times while qualified institutional investors bid for 0.47 times their allotment of shares. Non-institutional investor category bid 0.05 times of their allotted shares.
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Nykaa makes stellar debut on exchanges, lists at 79% premium
Shares of Nykaa’s parent company, FSN E-Commerce Ventures Ltd, made a stellar stock markets debut on Wednesday. The stock was listed at ₹2018, a 79.37% premium over its issue price of ₹1,125 apiece. The only profitable unicorn to be listed on stock exchanges, Nykaa’s valuations are attractive, analysts had said ahead of the issue. As the primary markets have heated up post-pandemic, other recently listed unicorns are CarTrade and Zomato. The ₹5,350 crore initial public offering (IPO) of Nykaa was subscribed 82 times during its share sale that ended on 1 November. (Read here)
Nykaa lists on bourses
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On markets opening: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
The markets have opened on a tepid note—it continues to face resistance at higher levels. We are unable to sustain above 18,000-18,100 for even two sessions in a row. If the Nifty can get past that hurdle, we can scale higher to 18,400 and then 18,600. 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.
Nykaa shares open at ₹2,018 in pre-open…
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