10 May , 2022 By : monika singh
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity markets started Tuesday’s trade volatile, moving between gains and losses. Minutes into the day’s trade, Sensex was up 100 points, sitting around 54,580 while NSE Nifty 50 was above 16,300. Bank Nifty was above 34,400 while India VIX gave up 22 levels. Asian Paints was the top gainer on Sensex, rising 3%. Ultratech Cement, Maruti Suzuki India, and State Bank of India were the other top gainers. On the downside, Infosys, Reliance Industries, and ICICI Bank were the worst-performing stocks.
After the massive LIC IPO closed for subscription yesterday, the primary market will continue to witness heightened activity with the public issue of Prudent Corporate Advisory Services opening for subscription. The Rs 538 crore IPO of Prudent Corporate Advisory Services is entirely an offer for sale and investors can bid for shares in a fixed price band of Rs 595-630 per share. Ahead of the issue, Prudent Corporate Advisory Services has managed to raise Rs 159.43 crore from anchor investors Earlier yesterday LIC IPO closed after a distinctive 6-day bidding window. The issue was subscribed 2.95 times by investors. Further, shares of Rainbow Children’s Medicare will list on the stock exchanges today. The issue was subscribed 12.43 times earlier last month.
Rainbow Children’s Medicare shares made a tepid listing on the stock exchanges on Tuesday, amid bearish market momentum. Shares of Rainbow Children’s Medicare began trading at Rs 506 per share, down 6.6 per cent or Rs 36 from the upper end of IPO price band of Rs 542 per share. At the time of listing, the market capitalisation of the company stood at Rs 5,135.99 crore. The overall market sentiment was negative as BSE Sensex and NSE Nifty 50 were down in the red. The IPO was subscribed 12.43 times with all investor categories oversubscribing their portion of the issue.
“The mother market US has turned distinctly weak with Nasdaq, S&P 500 and Dow at 1-year lows. European markets are moving in tandem with US markets. Relatively India is doing better thanks to the consistent buying by DIIs and retail investors. Retail investors should not rush in to buy aggressively now since the market is not at buyable valuations. Since there is a risk off environment globally, FIIs are likely to sell at every bounce in the market. High-quality stocks like leading financials may be bought in small quantities. Rupee depreciation, which may continue, will impart resilience to IT stocks,”
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