1 week ago
Indian Markets Consolidate as IPO Activity Dominates Trading Week
Indian share markets moved up and down within a narrow range this week.
The main SENSEX and NIFTY indexes ended lower.
The BANKNIFTY and small-company shares performed better.
Investors paid a lot of attention to new shares being offered to the public.
Five recently listed companies ended well above their issue prices.
Dhoot Transmissions recorded the biggest gain among those companies.
The rupee weakened slightly against the US dollar.
Analysts are waiting for the market to make a stronger move either upward or downward.
The BSE SENSEX fell 468.42 points, or 0.60%, to 77,540.83, while the NIFTY declined 0.54% to 24,234.75.
The BANKNIFTY gained 0.47%, while the BSE SmallCap index rose 1.02% during the week.
The Indian rupee weakened 30 paise to Rs 95.77 against the US dollar, and the Dow Jones fell 0.85%.
Five listed companies posted strong gains from their issue prices, led by Dhoot Transmissions with a 69.99% weekly increase.
The article says five IPOs are entering the market, but subsequently lists seven new issues with opening dates in the following week.
- Who
- Indian stock-market investors, listed companies and companies launching initial public offerings.
- What
- Indian markets remained range-bound while several newly listed shares and upcoming IPOs attracted attention.
- Where
- Indian stock exchanges and the Indian primary market.
- When
- During the week ending after the trading sessions from August 17 through August 21; the article also lists IPO openings from August 20 through August 27 and beyond.
- Why
- Muted trading volumes, a lack of major geopolitical developments and investor waiting for a breakout or breakdown kept markets in consolidation.
Key facts
- BSE SENSEX close
- 77,540.83 points, down 468.42 points or 0.60%.
- NIFTY close
- 24,234.75 points, down 131.25 points or 0.54%.
- BANKNIFTY close
- 57,761.95 points, up 270.85 points or 0.47%.
- Rupee close
- Rs 95.77 per US dollar, weaker by 30 paise or 0.31%.
- Best listed-share gain
- Dhoot Transmissions closed at Rs 1,480.60, up Rs 609.60 or 69.99% from its issue price.
- IPO subscriptions
- The week’s closed issues included Sunshine Pictures at 105.81 times subscribed and Lalithaa Jewellery at 66.62 times.
- Technical range
- The article identifies 23,800 as a lower level and 24,600-24,650 as an upper level for the NIFTY.
Sources
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