The stock opened at Rs 306.10, which was also its day s low, a 2 percent premium over the issue price of Rs 300 per share, which was much lower than analysts expectations of at least a 20 percent listing premium
The hurdle for Nifty50 is expected to be at 19,600-19,700 area. If it gets surpassed and sustained, there is a possibility of the index breaking lower highs and lower lows formation
On the domestic front, the RBI interest rate decision will be the key factor to watch out for, while globally, the participants will take cue from the US inflation numbers releasing on August 10.
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From finance startup Paytm to the nations largest insurer, investors have lost money from those IPOs in the past two years. Theyve turned to companies offering up to just $100 million in stock sales, as India hosted 92 such listings this year, the most in the world, according to data compiled by Bloomberg.