Benchmark market indices S&P BSE Sensex and NSE Nifty 50 opened lower on Friday as financial stocks dipped. Global cues have also made investors nervous.
“With positive economic data pointing towards economic recovery, the market is expected to remain bullish in the long term while the possibility of a short correction in the near term cannot be ruled out. On the backdrop of eased retail inflation, the wholesale price inflation data to be released next week is expected to cool down as well,” said Vinod Nair, Head of Research at Geojit Financial Services.
Premia of these listing candidates in the unofficial market were hammered badly after sentiment in the second rung stocks took a hit, subscription levels of recent IPOs turned poor and Rolex Rings and Glenmark Life delivered lesser listing gains than expected.
Nuvoco Vistas IPO: On Wednesday, qualified institutional buyers showed greater interest as the portion reserved for them was subscribed 4.23 times -the highest among the three groups of investors.