The Indian stock market ended the week on a negative note today, halting a two-day rally. Benchmark indices succumbed to selling pressure amidst weak global cues and a depreciating rupee, which hit a record low against the dollar.
The BSE Sensex fell by approximately 401 points to settle near 85,231, while the Nifty 50 declined by 0.47% to close below the psychological mark of 26,100 (ending around 26,068). Despite the dip, the broader market sentiment remains cautious but hopeful, with indices hovering near record territories earlier in the week.
Top Gainers and Losers
Even in a weak market, select pockets of strength were visible, particularly in the auto and aviation sectors.
-
Top Gainers: Maruti Suzuki, InterGlobe Aviation (IndiGo), Mahindra & Mahindra, and Eicher Motors defied the trend to close in the green.
-
Top Losers: Banking and financial stocks faced headwinds, dragging the indices lower.
For a detailed list of today's winners and losers, you can check the Finology Ticker platform to analyse their technical charts and delivery percentages.
Big Stock Market News Today
1. Kotak Mahindra Bank Announces Stock Split
In a major move to improve liquidity, Kotak Mahindra Bank has approved a 1:5 stock split. This means for every 1 share held, shareholders will now receive 5 shares. This corporate action is expected to make the stock more affordable for retail investors.
2. Adani Enterprises Exits Adani Wilmar
Adani Enterprises has completed its exit from Adani Wilmar by selling its remaining 7% stake via a block deal. This transaction leaves Wilmar International as the sole promoter, transitioning the company into a fully MNC-led enterprise.
3. IndiGo’s Strategic Investment
InterGlobe Aviation (IndiGo) has cleared a significant investment of ₹7,294 crore into its financial services arm, signalling a push to diversify beyond its core airline operations.
IPO Corner: Listings & Subscriptions
The primary market was buzzing today with a new listing and a closing subscription.
Capillary Technologies Lists at Discount, then Surges
Capillary Technologies made its debut on the bourses today.
-
Listing: The stock had a muted start, listing at ₹560 on the BSE, a 2.95% discount to its issue price of ₹577.
-
Recovery: Despite the weak opening, the stock saw strong buying interest during the day, surging nearly 8% from its listing price, rewarding investors who held on or bought the dip.
Excelsoft Technologies IPO Closes Today
The IPO of Excelsoft Technologies concluded its subscription today.
-
Demand: The issue witnessed strong demand, subscribed over 11.78 times by this morning, with Non-Institutional Investors (NIIs) leading the charge.
-
GMP Update: The Grey Market Premium (GMP) cooled off slightly to around 11.67%, indicating moderate listing gain expectations.
Investors waiting for the allotment status can keep an eye on Finology Ticker for the latest updates on upcoming IPOs and their Grey Market Premiums (GMP).
What to Watch Next?
As we head into the weekend, market participants will closely monitor global market trends and foreign institutional investor (FII) flows. The ability of the Nifty to reclaim the 26,100 level early next week will be crucial for sustaining the bullish momentum.