Overall market breadth was negative as 881 shared declined versus 789 stocks advancing while 552 stocks remained unchanged.
Most brokerage firms have not rated the issue. While in the pre-IPO placement round the company raised Rs 150 crore at an issue price of Rs 252 per share compared to IPO price band of Rs 498-500.
Investors can bid for a minimum of 30 equity shares and in multiples, thereafter, translating to a minimum bidding amount of Rs 15,000 at the higher price band of Rs 500.
Banks stocks were in demand after the apex court refused to extend the moratorium on bad loans for borrowers hit by the pandemic.
Adani Ports and Special Economic Zone (APSEZ) rallied 4.21% to Rs 752 after the company said it is acquiring the 58.1% stake held by DVS Raju and family in Gangavaram Port (GPL).
Here's how you can check the share allotment status of Laxmi Organic Industries IPO. In the grey market shares of Laxmi Organic were trading at a premium of Rs 65-70.
In opening trades, Sensex gained 174 points or 0.35% at 49,945. Broader market index Nifty50 is traded at 14,790 jumps 54 points or 0.37%.
Just by converting a monthly SIP of Rs 1,000 to a weekly SIP of Rs 250, you can end up earning Rs 6,914 more at the end of 10 years assuming an expected rate of return of 10%
In late trade benchmark Indian equity indices staged a recovery led by realty, IT FMCG, pharma stocks.
Sensex, was down 276.11 points or 0.55% to 49,582.13. The Nifty 50 index declined 54.8 points or 0.37% at 14,689.20.