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Investors playing for listing gain can keep a stop loss of 1950 while aggressive investors are advised to hold this stock.
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The 'buy on dips' strategy of retail investors and DIIs is countered with the 'sell on rally' strategy of FIIs.
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Shares of FSN E-Commerce Ventures (Nykaa) opened at Rs 2,018 on the NSE, compared to the issue price of Rs 1,125, marking a premium of 79.38%.
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Housing Development Finance Corporation announced plans to raise Rs 3,000 crore by issuing secured, redeemable NCDs on a private placement basis.
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Centrum is bullish on M&M Finance with a price target of Rs 210 per share.
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China's consumer inflation for October rose 1.5% from last year. The producer price index for October surged 13.5% from last year.
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Sensex settled at 60,433.45, down 112.16 points or 0.19%, while the broader NSE Nifty declined 24.30 points or 0.13% to end at 18,044.25
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64% or 32 constituents of Nifty 50 are trading at a significant premium to their historical averages.
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The broader market outperformed. The S&P BSE Mid-Cap index gained 0.81% while the S&P BSE Small-Cap index added 0.67%.
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Market Infrastructure Institutions or MIIs, clearing corporations and depositories have taken the decision