On Tuesday, October 15, the Indian equity markets opened positively, with the S&P BSE SENSEX rising by 227.68 points, or 0.28%, to reach 82,200.73. The NSE NIFTY50 also saw an uptick, climbing 63.85 points, or 0.25%, to trade at 25,191.80. Key contributors to the SENSEX’s gains included HDFC Bank, Infosys, and ICICI Bank, while notable laggards were ONGC and Tata Steel.
The market sentiment was buoyed by the launch of Hyundai Motor India’s initial public offering (IPO), which aims to raise ₹27,856 crore. This IPO opens for subscription today and is poised to become the largest in India’s history, with shares priced between ₹1,865 and ₹1,960 each. Investors can apply for a minimum of seven shares123.
Despite the overall market positivity, automotive stocks faced downward pressure as investors weighed the implications of the IPO against broader economic factors. Foreign institutional investors net sold shares worth ₹3,731.59 crore on Monday, while domestic institutional investors net bought shares worth ₹2,278.09 crore5.
