09 May , 2022 By : monika singh
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity markets opened with losses on Monday morning as bears continued to dominate. S&P BSE Sensex was down more than 500 points or 1?ter falling as much as 800 points during the opening minutes of trade to hit a low of 53,918. NSE Nifty 50 hit a low as 16,142 before recovering above 16,200 but was still down more than 1%. Bank Nifty slumped 1.6%, while India VIX soared 3.5% to near 22 levels. Broader markets mirrored the fall. HCL Tech was the top gainer on Sensex, up 1.46%, followed by Infosys. Bajaj Auto, Power Grid, Bajaj Finserv, and Ultratech Cement. IndusInd Bank was the top laggard, falling 2.85%, accompanied by Tech Mahindra, Reliance Industries, and Tata Steel.
The Life Insurance Corporation of India (LIC) IPO has so far been subscribed 1.79 times with investors being allowed to bid for the issue even on the weekend. Entering the final day of the subscription period, LIC IPO has garnered bids for 29.08 crore shares against 16.20 crore that are on offer. All investor categories have been oversubscribed, except Qualified Institutional Buyers (QIB), who have bid for 0.67 times their reserved portion. NII subscription is at 1.24 times, and that of Retail investors is at 1.59 times. Employees of LIC have subscribed to their portion 3.79 times and Policyholder subscription is at 5.04 times.
Travel and hospitality technology platform OYO on Monday said it has concluded the acquisition of Europe-based company 'Direct Booker' with the transaction valuing the latter at around USD 5.5 million (over Rs 40 crore). Direct Booker has over 3,200 homes and serviced 20 lakh customers so far, OYO said in a statement.
Importers need to hedge all dips as we got one last Wednesday of 76.00. Exporters may sit quite for the moment with a stop below 76.75. Range for the day should be 76.80 to 77.30.
The breach of Friday’s low signifies extended correction. Hence, after a negative opening use pullback towards 16320-16352 for creating short position for the target of 16231 Going forward, key support is placed at 16100 levels being 80% retracement of March rally.
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