Monday, December 23, 2024 | 10:57 PM ISTEN Hindi

Sensex soars 1,345pts, Nifty tops 16,250; LIC ends 8% down at Rs 875 on BSE

CLOSING BELL: Shares of Life Insurance Corporation of India (LIC) listed at Rs 867.20 on the BSE, a 8.6 per cent discount when compared with its issue price of Rs 949 per share

SI Reporter New Delhi

Photo: Bloomberg

8:52 AM

Pre-market view: LIC listing may influence market direction today

On Monday benchmark indices broke their 6 days losing streak amid high volatility. Indices closed with firm gains after low level buying was witnessed in frontline stocks.

Benchmark indices can rally upwards today amid positive Asian market cues. LIC, which is India’s biggest IPO, will be making its debut today and can influence the further direction of the market. Investors will closely be eyeing the WPI data, which is expected to be released later in the day.

On the technical front, the key resistance level for Nifty50 is 15,950 followed by 16,000 and on the downside 15,800 and 15,750 will act as strong support.

Views by Mohit Nigam, Head - PMS, Hem Securities

8:49 AM

DIIs counter foreign outflows: Buy equities worth Rs 1,428 crores on Monday

Between December 2020 and February 2021, traders were supposed to maintain at least 25 per cent of the peak margin

8:48 AM

FPI selling: FIIs sell Rs 1,789 crores of shares on Monday

8:46 AM

LIC stock may be held for long term if there's no listing gain: Experts

"If you hold on to this stock for more than three years, you are likely to earn decent returns," says Vikas Gupta, founder and chief executive officer, OmniScience Capital on LIC being listed today. Read more

Photo: Bloomberg

8:44 AM

LIC to list on bourses today: Check share price and other details

India’s largest insurer Life Insurance Corporation (LIC) will list its shares on the stock exchanges on Tuesday after witnessing a good response from domestic investors in the initial share sale, which fetched Rs 20,557 crore to the government. Read more

8:41 AM

Stocks in F&O ban today: GNFC, PNB, Indiabulls Housing Finance remain

8:40 AM

Nifty may open around 15,900; SGX Nifty slightly higher

source: investing.com

8:37 AM

LIC may list at a discount to issue price if grey market is an indicator

Stock could list anywhere between Rs 900 and Rs 940, says market player, citing weak institutional investor demand during LIC's Rs 20,577-crore maiden share sale. Read here

LIC has the largest network of 1.34 million individual agents as on March 31, 2021

8:37 AM

Rupee closes at 77.8/$ on Monday; weaker by 38 paise

source: bloomberg

8:36 AM

Oil prices trade at elevated levels: Brent, WTI crude at $114 per barrel each

Oil prices surged on expectations that China's demand would recover significantly once the coronavirus pandemic subsides in the worst-affected areas. China will end restrictions from June 1, 2022.