LIVE: Nifty extends bounce above 23,250; broader markets outperform | Closing bell
Nifty extended its bounce by another day, trading above 23,250 after falling from the day’s high, while the Sensex remained largely unchanged on the weekly expiry day. Market breadth turned positive with India’s VIX falling 5% and small- and mid-cap indices outperforming benchmarks. Pharmaceutical and auto stocks led the market higher, while financial stocks remained in the red. In terms of IPOs, Manipal Payment Services debuted to the market at a 3% discount to its issue price on the NSE, while LCC Projects was listed at a 31% premium and Karamtara Engineering debuted at a 26% premium to their respective IPO prices. On the first day, the NSE IPO received 30% subscription, led by non-institutional investors and retail participants. Brent crude prices fell to around $104 a barrel, bringing some relief to markets. Among the Nifty 50 stocks, HDFC Life, SBI Life and Tata Motors PV were the top performers, while ONGC, Bajaj Auto and Titan were the top losers.
