Live
- A Beginners Guide To Delta 8 Gummies Effects
- Hyderabad Health Run by Sid’s Farm
- Crystal Crop Protection Ltd. Launches PROCLAIM XTRA, an advance insecticide for Maize and Soybean
- Campus Activewear Celebrates Everyday Moments at Annual Retailer Meet
- Maruti Suzuki launches the Epic New Swift S-CNG; most fuel-efficient hatchback in its segment
- Brick & Bolt launches Experience Centre in Hyderabad to Transform Customer Experience in Home Construction
- RED Health’s Swift Emergency Response Saves Critical H1N1 Patient with Urgent Air Transfer
- The Role of Personal Relationships in Mental Health and Suicide Prevention
- Relief Efforts Continue on Day 3 at Chinnonipalli R&R Center
- BJP Membership Drive Launched in Bharat Nagar Colony
Just In
![Market may re-attempt correction after the rally Market may re-attempt correction after the rally](https://www.bizzbuzz.news/h-upload/2022/05/18/500x300_1534319-market-take.jpg)
The May 19-25 period would continue to remain choppy and volatile; with a sharp sell-off witnessed in the previous period it would be fair to expect markets to see some recovery
The domestic stock markets continued their volatile way in the May 12-18 period under review. Markets began the period with a sharp fall and then a sideways move for the next two days. This was followed by a rally which was the best single day gain since February 15, 2022. The period ended with a small correction on the last day. There were gains on two of the five days and losses on the remaining three. At the end of the period, BSE Sensex gained 120.14 points or 0.22 per cent to close at 54,208.53 points while Nifty gained 73.20 points or 0.45 per cent to close at 16,240.30 points.
Dow Jones has been choppy as well and may have made a very short-term bottom for the time being. It gained 493.85 points or 1.54 per cent to close at 32,654.59 points.
The primary markets have become quite active again. The mega listing from LIC of India Limited happened on Tuesday and was a fairly tepid listing. The discovered price on BSE was Rs 867.20. The high of the day was Rs 920 while the low of the day was Rs 860.10. The share closed at Rs 875.45, a loss of Rs 73.55 or 7.75 per cent. Today the share traded in a narrow range of just about Rs 16 with the high being Rs 890 and the low Rs 874. The share closed with a small gain of Rs 0.80 or 0.08 per cent at Rs 876.25.
Two issues are open for subscription currently. The first is from Paradeep Phosphates Limited which is raising Rs 1,004 crores through a fresh issue and Rs 504 crores through an offer for sale in a price band of Rs 39-42. The first issue has opened on Tuesday the 17th of May and would close on Thursday the 19th of May. At the end of the 2nd day, the issue is subscribed 0.54 times overall with the retail portion just about subscribed.
The second issue is from Ethos Limited which is a luxury watch retailer. The issue consists of a fresh issue of Rs 375 crores and an offer for sale of 11.08 lakh shares in a price band of Rs 836-878. The issue opens on Wednesday the 18th of May and would close on Friday the 20th of May. At the end of the first day, the issue was subscribed 0.28 times, with retail portion subscribed 0.55 times.
The three issues which were open for subscription last week, would be listing on Friday and Monday and Tuesday in the coming period. These were from Prudent Advisory, Delhivery and Venus Pipes.
In corporate news, the Adani group has acquired the assets of ACC-Ambuja Cements at a value of 10.5 billion dollars. The holding company which has acquired the assets would have stake from sovereign wealth fund of the Middle East as well.
The period under review in the week ahead, May 19th ��� 25th would continue to remain choppy and volatile.
With a sharp sell-off witnessed in the previous period it would be fair to expect markets to see some recovery.
The sell-off was particularly harsh on the small and midcap stocks and they have been ruthlessly hammered. Notwithstanding that FII's continue to remain sellers, expect some sanity in the short term at the bare minimum. Markets should attempt to recover to a bare minimum of 16,350-16,550 before deciding the next course of action. This part of the rally could be volatile and vicious like the fall that was witnessed. Remember that the correction is not over, but could happen again after the rally. Trade cautiously and keep light positions at end of day.
(The author is the founder of Kejriwal Research and Investment Services, an advisory firm)
![](/images/logo.png)
© 2024 Hyderabad Media House Limited/The Hans India. All rights reserved. Powered by hocalwire.com