Market wrap: New listings scale back a bit even as markets touch new peaks
CDSL and AU Finance Bank gave up some gains after registering fantastic listings even as BSE and NSE scaled new peaks. BSE reached its all-time high of 32,000 points while NSE hovered near 9,900-mark.
- BSE100 crossed its highest ever of 32,000 this week while Nifty50 touched 9,900.
- CDSL and AU Small Finance Bank saw bumper listing gains but lost momentum during the week
- Avenue Supermart is up nearly 200% since its listing
This week has been good for Indian stock markets as BSE touched its all-time high of 32,000 while NSE Nifty crossed 9,900 on Friday.
Amid this, the performance of recently listed companies is an interesting watch.
10 out of 15 newly listed companies have given muted to slightly positive returns in the past one week. Sensex has jumped by 1% and Nifty by 1.3% in this given week.
However, gains given by these companies since their listings go as high as 200%.
By far, in 2017, 15 companies have listed on Indian stock exchanges.
In the first six months of the current year, the fund raising through initial public offering of equity have already crossed Rs 10,000 crore, according to Prime Database.
Pranav Haldea, Managing Director of Prime Database said, "This year is seeing entry of different sectors like life insurance, general insurance, AMCs, stock exchanges and depositories which is a good indication for IPO market."