India is also experiencing a decline along with the global market. Sensex, the stock market-sensitive index, fell over 1100 points at the start of trading. Currently, the Nifty trades below 17000.
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India’s stock market started weak on January 27. Sensex closed at 56,876.18 with a loss of 981.97 points or 1.70 per cent around 09.20 pm, while Nifty ended at 16,998.45 with a loss of 279.50 points or 1.62 per cent.
The stocks saw a decline at 10 am
Sensex stocks dominate the fall with 28 out of 30. 10 out of 12 Bank Nifty stocks are declining at the same time. Titan’s shares are trading with the largest decline. Apart from this, the shares of Axis Bank are also seeing gains of 0.27 percent. The other 48 out of 50 stocks of the Nifty are selling.
The Adani Wilmar IPO opens today
Adani Wilmar is opening its 3 day IPO offer today, 27 January 2021. The price range of this IPO is Rs 218-230 per share. In its IPO, the company plans to raise Rs 3600 crore. As this will be a completely fresh issue, there will be no offer for sale in the IPO.
The IPO will not include an offer for sale since it will be a fresh issue. Often, the company’s promoters and other shareholders sell their stakes in the offer for sale.