Cues from global peers were mixed with US stock markets ending in the red but Asian equity markets trading mixed.
Share Bazaar News Today | Sensex, Nifty, Share Prices LIVE: The record shattering run of Sensex and Nifty was brought to screeching halt on Thursday. Even after the indices reached their new all-time highs, the bears took over control and pulled the indices lower as they ended down over 1% each. Among the top drags were financial stocks, particularly the banking ones. SGX Nifty was trading with gains on Friday morning, hinting at a positive start for domestic markets. Cues from global peers were mixed with US stock markets ending in the red but Asian equity markets trading mixed.
Today, Gland Pharma will make its stock market debut. The initial public offering was oversubscribed by only the Qualified Institutional Buyers (QIB) while NIIs and retail investors failed to fully subscribe their portion. However, ahead of the IPO the grey market premium of the pharmaceutical firm has surged sharply and was commanding a premium of Rs 100-110 per share during this week. Gland Pharma, backed by China’s Fosun Pharma has a healthy balance sheet with a strong growth in net profits. Pharma industry has positive outlook amid a pandemic which could help the debutant.