look news india
Mumbai: Last week, there was a strong attraction in the secondary market as well as the primary market in the country. Investors poured in a total of Rs 222,436 crore (about Rs 2.20 trillion) in three IPOs last week to raise a total of Rs 11,615 crore.
On the other hand, selling by foreign institutional investors (FIIs) in the secondary market seems to be slowing down as compared to October-November. FIIs sold a net amount of Rs 225 crore in equity cash last week, which is considered to be the lowest in recent times. Domestic institutional investors (DIIs) made net purchases of Rs 688 crore.
Talking about the entire month of December, FIIs made net purchases of Rs 11706.89 crore, while DIIs made net purchases of Rs 4672.49 crore. Foreign funds were net sellers in October and November.
In the last week, three IPOs of giants Megha Mart, One MobiKwik Systems and Sai Life Sciences collectively raised Rs 11,615 crore, against which investors, especially retail investors, reacted strongly with bids worth about Rs 2.20 trillion.
Investor sentiment towards the primary market has improved and the benchmark Sensex has seen a significant recovery from the November low in early December.
The Nifty 50 index is up 6 per cent from the November low, while Nifty Midcap and Nifty Smallcap are up 8.50 per cent and 10.30 per cent respectively. The data received revealed that there was flooding on Mobikwik 120 times in three fillings, on Sai Life 10 times and on Vishal Mega 27 times.
Investors are preferring to invest money in public shares as they give higher returns at the time of listing. The trend of public procurement will be visible next week also. Next week, 4 IPOs and listing of shares of nine companies are to take place.