The Indian stock market witnessed a decline during the early trading hours on February 29. The Sensex dropped by 84 points during the initial business, and by 11 AM, it was trading at 72,213.94, reflecting a decline of 90 points. Similar trends were observed in the Nifty as well.
Market Overview
On February 29, Thursday, the Indian stock market experienced a downtrend during the early trading hours. The beginning of the trading day marked the most active day of the week with a noticeable drop. According to available information, out of the 30 stocks in the Sensex, 16 showed a decline, while 14 exhibited positive movements. Additionally, Petrolieum (Petro) shares faced a 5% lower circuit for the second consecutive day. The Nifty also saw a decline of 16 points during the early trading hours, initiating its trading day at 21,935.
Shares Facing Losses
During the initial business activities today, Nifty Midcap 100, BSE Small Cap, Nifty IT, and Nifty Bank indices started with a decline. Alongside, some prominent shares like Grasim Industries, Hero MotoCorp, Vipro, JSW Steel, and Tech Mahindra also experienced flat trading. However, certain shares including Asian Paints, Axis Bank, Britannia, Bharti Airtel, and SBI Life witnessed declines.
Mukka Proteins IPO Today
Today presents a significant opportunity for investors as Mukka Proteins Limited’s IPO opens for retail investors. The subscription period extends until March 4, allowing investors to place bids. The company’s shares are expected to be listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on March 7. Mukka Proteins aims to raise ₹224 crores from the market through this IPO.
Market Performance on February 28
It’s worth noting that the market experienced a decline on February 28, with Sensex closing at 72,304, a drop of 790 points. Nifty also recorded a decline of 247 points on the same day.
The stock market continues to be dynamic, and investors should stay informed about the latest trends and market movements. The Mukka Proteins IPO presents an additional opportunity for investors to explore. As the market tends to react to various factors, staying updated with the latest developments is crucial for making informed investment decisions.