Grey market premiums are falling primarily due to yesterday's weak listing of the 4 IPOs, specially Krsnaa and Windlas which affected the sentiments.
In early deals, Sensex dropped 150 points or 0.27% to 55,431. NSE Nifty 50 was at 16,545, down 17 points or 0.11%.
Sensex closed the session 145.29 points or 0.26% higher at record 55,582.58. The 30-share BSE index touched a record intra-day high of 55,680.75.
Book profits in Exxaro Tiles as the peers like Somany Ceramics and Kajaria Ceramics may outperform the company in the long run.
Investors who had invested their savings can hold for short to medium term but those who have borrowed the funds are advised to close their positions.
It would be wise to book some profit at least 50% of the shares allotted and hold the remaining shares for the long-term.
Mutual fund news: Mutual funds were net buyers in 68% or 34 Nifty stocks and reduced holding in 32% (16 stocks) in July
On the BSE, Krsnaa Diagnostics opened at Rs 1,025, at a premium of 7.44% or Rs 71 over its issue price of Rs 954 per share.
On the BSE, Devyani International opened for trading at Rs 141, at a premium of 56.67% or Rs 51 over its issue price of Rs 90 per share.
Sectoral indices on the NSE were mixed. Nifty Pharma falling nearly 1% was the top sectoral laggard followed by Nifty Media and and Nifty Auto.