Business Desk – Stock Market Today: The stock market is trading with a decline today i.e. on 1st October. In early trade, the Sensex is down by about 150 points at 72,300, while the Nifty is down by about 30 points and is trading around 22,600.
Maximum selling is being seen in auto and media shares in the market. However, on the other hand, the spectacular listing of the new IPO Moneyview has attracted the attention of investors.
Moneyview Share Listing: Listed at 62% premium
Shares of digital lending platform Moneyview were listed in the stock market today with a strong rise. The company’s IPO was listed at Rs 55, about 61.76% higher than the issue price of Rs 34. That means investors who got shares in IPO got a profit of about 62% on listing.
Moneyview IPO was open from 24 to 28 September. It received an overwhelming response from investors and the issue was subscribed a total of 98.46 times. In this, the highest demand was from Qualified Institutional Buyers i.e. QIBs. QIB category was subscribed approximately 227 times.
Asian Market: Boom in Asian markets
Amidst the weakness in the Indian market, today there is a rise in the major Asian markets. South Korea’s KOSPI is trading up 0.71%, Japan’s Nikkei up 2.40% and Hong Kong’s Hang Seng up 0.37%.
That means the trend of Asian markets is currently stronger than the Indian market. Despite this, there is selling pressure in auto and media stocks in the domestic market.
US Stock Market: Mixed trading in the American market
Earlier on September 30, pressure was also seen in the American market. Dow Jones fell 444 points or 0.86% and closed at 50,906. S&P 500 also declined by 19 points or 0.25%.
However, Nasdaq rose by about 64 points or 0.24%. In this way, the performance of the American market remained mixed, the effect of which is also being seen on the global market sentiment today.
FII Selling: Selling of Rs 19 thousand crores in 7 days
Continuous selling by foreign investors is also putting pressure on the Indian stock market. According to available data, FII/FPI have sold shares worth about Rs 19,027 crore in the last 7 days. Net selling by foreign investors in the last 30 days was about Rs 35,008 crore.
On the contrary, domestic institutional investors i.e. DIIs are buying in the market. DII has made net purchases of about Rs 14,980 crore in the last 7 days and about Rs 62,912 crore in the last 30 days.
There was a decline in the market yesterday also
Earlier on September 30, there was a decline in the Indian stock market. In such a situation, even today investors are keeping an eye on the direction of the market, activities of foreign investors and sector-wise selling. Especially Nifty 50, Sensex, FII-DII activity and IPO listing remain the major trends of the market today.
Note: Net buying and selling figures of FII/FPI and DII are in crores of rupees.