Sustained foreign inflows have been helping stock markets reach new highs repeatedly.
Share Bazaar News Today | Sensex, Nifty, Share Prices LIVE: Sensex and Nifty opened in red on Thursday morning, following weak global cues. S&P BSE Sensex was seen trading below 46,000 while Nifty 50 gave up 13,500. IRCTC shares tanked 11% as investors reacted to government’s decision to sell 20% of its stake in the company. Maruti Suzuki India, Power Grid, and Sun Pharma were the top Sensex gainers while the worst performers were UltraTech Cement, Infosys, and Tata Steel. BSE Midcap and Smallcap indices were mirroring the fall. Volatility was down over 2%. All sectoral indices, except Nifty Auto, Nifty FMCG, and Nifty Pharma were trading in the red. Nifty Realty was flat.
The government is looking to sell 20% of its stake in Indian Railway Catering and Tourism Corporation (IRCTC) through an Offer For Sale (OFS) beginning today. IRCTC informed the bourses that the promoter is looking to sell 2.4 crore equity shares of IRCTC with an option to sell an additional 80 lakh shares at a price of Rs 1,367 per share. The floor price is at a 15% discount to the closing price of Wednesday. The OFS will open for non-retail investors from December 10 while for retail investors, the offer will open from December 11. Shares of IRCTC have zoomed 107% since listing in 2019.