2 hrs ago
Sensex Falls as NSE IPO Listing Takes Center Stage
India’s stock market had a difficult day, with the Sensex dropping by more than 500 points.
Brent crude oil prices rose above $102.
At the same time, investors were watching the planned stock-market debut of the National Stock Exchange of India.
The NSE’s IPO was worth Rs 22,569 crore.
It was subscribed 5.71 times by the final day of bidding.
Institutional investors showed strong interest in the offering.
An analyst said the shares could be considered around Rs 1,850 to Rs 1,900 for long-term investors.
He also said investors should remember that stock markets can go through cycles.
The Sensex fell by more than 500 points as Brent crude rose above $102.
The National Stock Exchange of India’s Rs 22,569-crore IPO was subscribed 5.71 times on the final bidding day.
Institutional investors drove strong demand for the NSE offering, ahead of its market debut.
Equinomics Research’s G. Chokkalingam said a price range of Rs 1,850–1,900 could suit medium- to long-term investors.
Chokkalingam cited retail investor inflows, potential new listings and NSE’s near-duopoly, while warning that capital markets are cyclical.
- Who
- The Sensex, the National Stock Exchange of India, institutional investors and Equinomics Research analyst G. Chokkalingam.
- What
- The Sensex fell over 500 points while the NSE’s Rs 22,569-crore IPO drew subscriptions of 5.71 times ahead of its listing.
- Where
- India’s stock market, including the NSE listing on D-Street.
- When
- September 24; the IPO was subscribed 5.71 times on the final day of bidding on Monday.
- Why
- The article links the market focus to the NSE’s historic debut, higher Brent crude prices and investor demand for the IPO; Iran also said it would not be bullied.
Long-Term Bull Case
Investment Cautions
NSE growth prospects
Long-Term Bull Case
G. Chokkalingam said continued retail-investor inflows, the potential for new company listings and NSE’s almost duopolistic market structure support its long-term prospects.
Investment Cautions
The analyst cautioned that the capital-markets business is cyclical, so investors should account for periods of weaker market activity.
IPO valuation
Long-Term Bull Case
Chokkalingam said a range of Rs 1,850–1,900, representing about 45 times FY2026 earnings, could be considered for medium- to long-term investment.
Investment Cautions
The valuation is substantial, and the analyst’s comments present the price range as a consideration rather than a guaranteed return.
Key facts
- Sensex move
- Fell more than 500 points
- Brent crude
- Above $102
- NSE IPO size
- Rs 22,569 crore
- Final subscription
- 5.71 times
- Suggested price range
- Rs 1,850–1,900
- Valuation reference
- About 45 times FY2026 earnings
- IPO demand
- Strong demand from institutional investors
Quotes
G. Chokkalingam
Head of Research at Equinomics Research
“a range of Rs 1850 to Rs 1900-a PE multiple of around 45 on FY2026 earnings - is good to consider NSE for medium to long-term investment.”
timesnownews.com
Sources
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