Sunday 15 November 2015

Nifty holds 7700 amid pressure; SH Kelkar up 25% on debut -- 16 Nov 2015

Shares of Fragrance maker SH Kelkar & Company have opened at Rs 216 on the National Stock Exchange, up 20 percent over its issue price of Rs 180. It touched an intraday high of Rs 225.05, up 25 percent.

                               
The market remained under pressure in morning trade with the benchmark indices falling half a percent. The broader markets also declined with the BSE Midcap and Smallcap indices down 0.3-0.4 percent. The market breadth too was weak as about 1079 shares declined against 789 advancing shares on the BSE. The 30-share BSE Sensex fell 116.46 points to 25494.07 and the 50-share NSE Nifty declined 38.60 points to 7723.65. Shares of Fragrance maker SH Kelkar & Company have seen strong buying interest on listing day. The stock has opened at Rs 216 on the National Stock Exchange, up 20 percent over its issue price of Rs 180. It touched an intraday high of Rs 225.05, up 25 percent. Infosys topped selling list on Sensex, down 2.6 percent followed by TCS, HDFC, Tata Motors, Axis Bank, ONGC, Bajaj Auto and Coal India with 1-1.5 percent loss. Dr Reddy's Labs gained 2 percent. ITC, ICICI Bank, L&T, SBI and Bharti Airtel advanced 0.5-1 percent.

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