Stock Market Update: Sensex, Nifty trade lower dragged by banks
by mydhanush on 30 November 2023, 3 min read
Indian stock market was trading in the red with selling seen in Bank Nifty which shed 0.66 percent.
The stock market was trading in the red on November 30. Sensex was down 213 points or 0.32 percent at 66,688. Nifty shed 49 points or 0.25 percent at 20,046 level.
Around 1156 stocks advanced, 1152 stocks declined and 99 remained unchanged.
Selling pressure was apparent in the Bank Nifty, which experienced a decrease of 0.66 percent. Punjab National Bank shed over 1 percent followed by Federal Bank, AU Small Finance Bank and IndusInd Bank.
IT and metals witnessed some selling pressure. The top losers were Tech Mahindra, Tata Consultancy Services and Infosys from the IT space. Jindal Stainless, Adani Enterprises and Hindustan Copper were the other losers.
White oil manufacturer Gandhar Oil Refinery (India) surpassed analysts’ expectations. It listed at a premium of 75 percent on exchanges on November 30. It started trading at Rs 295.40 on the BSE and Rs 298 on the NSE.
Issue Subscription of IPO
On the final day of bidding, the IPO garnered a subscription rate of 64.07 times, demonstrating significant investor enthusiasm.
Qualified institutional buyers booked 129 times their quota of shares. Retail investors booked 28.95 times, and high net-worth individuals 62.2. times.
Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.
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