Stock markets closed with a fall on the fourth day of the week. The Sensex lost 323 points to close at the level of 38979 and the Nifty fell by 85 points to 11519. Today all eyes on the stock market were on the stock of HAPPIEST MINDS TECHNOLOGIES LIMITED SHARES.
Stock listing at Rs 351
The stock of Happiest Minds was listed at Rs 351 at a 111 per cent premium against the issue price of Rs 166 today. During the day, its stock touched an all-time high of 395 and a low of 350 on the NSE. It closed at Rs 371, up by Rs 21 after the market closed.
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151 times subscription received
There was a strong response from investors regarding the Rs 702 crore IPO of Happiest Minds Technologies promoted by Ashok Suta and the issue received a subscription of 151 times. This issue of about 700 crores was a tremendous hit and it got bids of about 58, 294 crores.
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Market weakness due to global factor
On the other hand, according to traders, a weak trend in the global markets led to a fall in the domestic stock markets. The US Federal Reserve statement had an impact on global markets. He announced without any incentive plan that the main policy rate would be close to zero till at least 2023. Globally, other markets in Asia include Shanghai and Hong Kong in China, Seoul in South Korea and Tokyo market in Japan. In Europe, major markets saw a decline in initial trading. Meanwhile, global oil standard Brent crude fell 0.26 percent to $ 42.11 a barrel.