Why SEBI should change the rules for IPO? Samir Rastogi, Director, Saksham Wealth Private Limited has to say about this.
Today Stock Updates: On Wednesday, the domestic stock market fell for the second consecutive day. The Sensex closed at 60,008.33 with a slippage of 314.04 points and the Nifty fell 100.55 points at 17,898.65 today. Selling in realty and pharma stocks added to the pressure on the market. At the same time, due to the fall in heavyweight stocks like Reliance, the market could not get support. Reliance has closed today with a fall of about 2 percent.
Banking stocks had a mixed trend on the Sensex today. On the other hand, except Nifty’s Auto, FMCG, IT, Media and PSU Bank, the indices of other sectors closed with a fall. The biggest fall of 1.64 percent was in Nifty Realty today. While Nifty Auto closed with a gain of 0.71 percent
Let us turn to Sameer Rastogi to discuss in detail the movement in the market today.
Other business news
1. The IPO of Go Fashion, the parent company of women’s wear brand Go Colors, is open today. For a lot of 21 shares, investors have to invest at least Rs.14,490. Rs 125 crore new shares to be issued under Go Fashion’s Rs 1014 crore IPO
2. The FMCG market has seen 21% year-on-year growth during October. Commodities like packaged food, rice, pulses, flour and high-end luxury goods contributed significantly to this. However, there was a slowdown in the sales of the homecare segment. According to the report, the sales of all the segments grew by 13-35%, while the sales of the homecare segment declined by 8%
3. Gold and silver prices fell on Wednesday. According to IBJA, the rate of 24 carat gold has declined by Rs 492 to Rs 49061 per 10 grams. Silver has also become cheaper by Rs 508 to Rs 66375 per kg.
4. On Wednesday also, the prices of almost all cryptocurrencies were seen slipping. Cryptocurrency bitcoin fell 4 percent to $58,956. Ether is also trading near this month’s low. Meanwhile, Dodgecoin and Shiba Inu were also trading with a loss of 7 percent.