The hype that saw shares of BSE — Asia's oldest stock exchange — list at a 34 per cent premium on February 3 and hit a high of Rs 1,200, is all but over. The stock has been steadily losing steam and closed at Rs 973 on Monday (February 20) with sharp decline in volumes as well.
Read: BSE lists at Rs 1,085 on NSE, closes at Rs 1,070
On Monday, just 1.99 lakh shares changed hands, as against 157 lakh on the day of listing. The interest has been waning, with the volume steadily declining from 22 lakh shares on February 6, 12 lakh on February 8 to 2.53 lakh shares on February 17.
The BSE had issued equity shares of Rs 2 face value at Rs 806 per share in its mega initial public offering (IPO) that saw an oversubscription of 51 times, making it one of the most successful public issues in recent times.
ICICI Prudential Life Insurance that got listed at a discount to its issue price of Rs 334 last September, closed 1.22 per cent down at Rs 357 on Friday (Feb 17).
The BSE Sensex closed 192 points higher at 28,662, led by TCS, Tata Steel, GAIL (India), HDFC Bank and Power Grid Corporation. The NSE Nifty closed at a five-month high of 8,879. TCS gained 4.08 per cent on news of share buyback worth Rs 16,000 crore. The decision rubbed off on other tech stocks as well.
"Market recovered in the later part of the day after the strong opening in the European markets. Tech, Metal and Banking stocks lifted the market. There was a positive sentiment in the market as most of the global markets - US closed record high, both Asian and European markets nearly 15-month high. In India, hope of GST implement, stable oil price and FIIs flow boosted the market sentiment," brokerage Motilal Oswal Securities said.
Foreign portfolio investors (FPIs/FIIs) were net sellers of Indian equities worth Rs 433 crore on Monday while domestic institutional investors (DIIs) were net buyers of stocks worth Rs 827 crore.
Gold prices saw a fall of Rs 180 to close at Rs 29,700 per 10 gm while silver closed at Rs 43,150 per kg, down Rs 300.
