NSE shares fall 1.5% to trade near IPO price a day after debut, here’s what Macquarie says

Shares of National Stock Exchange of India fell over 1.5 per cent today to trade near the IPO price a day after market debut. The stock started the trading session in the green at Rs 1,825 against the previous close of Rs 1,818 on the BSE. It gained slightly to touch a high of Rs 1,830, up Rs 12 from the previous close. However, the stock witnessed profit booking and fell to touch the intraday low of Rs 1,790.10, representing a drop of Rs 27.9 or 1.53 per cent. Last seen, the stock was trading at Rs 1,807.15, with a fall of Rs 10.90, and the market cap of the company stood at Rs 4,47,244.88 crore.

World’s 7th most valuable exchange

Earlier on Thursday, NSE shares closed nearly 2 per cent higher on their market debut, valuing the bourse at Rs 4.49 lakh crore and placing it among the world’s top seven exchanges.

The stock of the exchange listed at Rs 1,800, marginally up by 0.84 per cent from the issue price of Rs 1,785 on the BSE. During the trade, shares surged 5.21 per cent to Rs 1,878 before closing at Rs 1,818, higher by 1.85 per cent.

NSE entered elite club of top 10 valued firms 

On its debut, the National Stock Exchange entered the elite club of the top 10 most-valued firms by market valuation, grabbing the tenth spot ahead of Hindustan Unilever. However, at close, Hindustan Unilever raced ahead of NSE in terms of market cap (mcap). Its peer BSE has a market valuation of Rs 1.29 lakh crore.

The Rs 22,569-crore initial public offering of NSE, the country’s second-largest IPO, received nearly 6 times subscription on the final day of bidding on Monday, led by strong demand from institutional buyers.

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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)