Investors chary of next level direction

New Delhi: Markets were on a roll during the last week and the volatility seems to have reduced. The visible change was the fact that they just rose and were moving towards a nice set-up where they could go in either direction.

With last week’s moves, they are within striking distance of new lifetime highs. The broad markets more than regained the previous week’s losses. BSE Sensex gained 1,341.47 points or 1.85 per cent to close at 74,005.94 points, while Nifty gained 446.80 points or 2.03 per cent to close at 22,502.00 points.

The broader markets saw BSE100, BSE200 and BSE500 gain 2.40 per cent, 2.91 per cent and 3.23 per cent, respectively. BSE Mid-cap was up 4.92 per cent, while BSE Small-cap was up 5.65 per cent. Markets gained on five of the six trading sessions during the week. They were open on Saturday as well, with a view to testing the disaster recovery site that the exchanges have.

The Indian Rupee gained 16 paise or 0.19 per cent to close at Rs 83.34 to the US Dollar. Dow Jones continued its strong showing and crossed the 40,000 mark. It gained on three of the five trading sessions and lost on two. It was up 490.95 points or 1.24 per cent to close at 40,003.59 points.

There were three listings during the week. The first was Indegene Limited, which had issued shares at Rs 452. The share made its debut on Monday at BSE at Rs 659.70, a gain of Rs 207.70 or 45.95 per cent.

It then made a low of Rs527.80 and closed at Rs570.65. On NSE, it debuted at Rs655, on debut day, made a low of Rs527.10 and closed at Rs570.90, a gain of Rs118.90 or 26.30 per cent. By Saturday, the share lost further ground and closed at Rs 556.05, a gain of Rs 104.05 or 23.02 per cent.

The second share to list was TBO TEK Ltd, which had issued shares at Rs920. The share debuted at Rs1,380 on BSE and Rs1,426 on NSE. It closed on Wednesday, debut day at Rs1,404.85, a gain of Rs484.85 or 52.70 per cent. On NSE, the close was at Rs1,406.30. The share gained further ground and closed at Rs 1,463.90, a gain of Rs 543.90 or 59.12 per cent on Saturday.

The third share to list was Aadhar Housing Finance Limited, which had issued shares at Rs 315. The debut price was 314.30 on BSE and Rs 315 on NSE. The low the share made was Rs 293.35 on BSE and Rs 292 on NSE.

The high was Rs343.20 on BSE and Rs 343.70 on NSE. The share closed on Wednesday at Rs 329.55, a gain of 14.55 or 4.61 per cent. By Saturday, the share gained marginally and closed at Rs348.60, a gain of Rs 33.60 or 10.67 per cent.

The issue from Go Digit General Insurance Limited, which had tapped the markets during the week, saw the issue get overall subscribed 9.6 times.