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After volatile week expect aftershocks to continue
By
Arun Kejriwal ( IANS) |
Published on
Sun, Feb 28 2021 14:33 IST |
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Sensex, Nifty hit new highs, oil & gas stocks rise (Credit: bsebti.com). Image Source: IANS News
Markets were under extreme volatility in the week gone by and we had two trading sessions where there were 1,000 point moves on the BSESENSEX and one session where it was double that at 2,000 points. This clearly shows the vulnerability of markets and the urgent need for them to stabilise.
With two sharp down days, one sharp up day and two days where they traded with a positive bias, markets had all the action that one could expect in five trading days. The final result saw BSESENSEX lose 1,789.97 points or 3.52 per cent to close at 49,099.99 points while NIFTY lost 452.60 points or 3.02 per cent to close at 14,529.15 points. The broader indices saw BSE100, BSE200 and BSE500 lose 2.77 per cent, 2.39 per cent and 2.05 per cent respect
Momentum indicator Moving Average Convergence Divergence (MACD) on Friday showed bullish trade setup on the counters of Tata Motors, Aditya Birla Fashion, Manappuram Finance, Jain Irrigation, Gufic BioSciences, Britannia Industries and others.
RailTel Corporation lists with 16% premium on NSE
RailTel surges over 50% in grey market premium: Know about Railtel IPO before investing
RailTel Corporation of India on Friday got listed on NSE with a premium of 16 per cent against its issue price of Rs 94 apiece.
Notwithstanding the sell-off in the broader market, the stock made a debut at Rs 109, reflecting a gain of 15.95 per cent as compared to the issue price on NSE.
At BSE, shares of the company got listed at Rs 104.60, reflecting a gain of 11.27 per cent.
The company s market valuation stood at Rs 3,846.45 crore.
The initial public offer of the telecom infrastructure provider was subscribed over 42 times.
RailTel makes a decent debut shares list on bourses at 16% premium
Navdeep YadavFeb 26, 2021, 10:12 IST
BCCL
The shares of RailTel listed at about 16% higher at ₹109 apiece, compared to the IPO issue price of ₹93-94 per share.
Within minutes after listing, the shares of RailTel gained 7% of their value and were trading at ₹111.7 apiece at 10:05 am in an otherwise tepid market.
The listing is also in line with analysts expectations which predicted listing gains above 15%.
Check out the latest news and updates on Business Insider.The ₹819 crore ($112 million) initial public offering (IPO) of state-run RailTel Corp made a decent debut after a tremendous investor response. The shares of RailTel listed at about 16% higher at ₹109 apiece, compared to the IPO issue price of ₹93-94 per share.