Stock Market: Sensex, Nifty trade tepid on negative FIIs; IRCTC IPO settles at Rs 626

The stock market of India was sideways on negative foreign institutional investors (FIIs). The BSE Sensex went down 30 points to 30,096 levels while the 50-stock Nifty 1 point down at 11,303 levels. The Bank Nifty index was 22 points up at 28,064 levels.

Speaking on the current market scenario Sumeet Bagadia, Vice President at Choice Broking said, "Market is facing huge resistance at 11,300 levels. Once, it sustains above this level, we can expect it further upside up to 11,500 levels."

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Adani Gas, Dewan Housing Finance Limited or DHFL, Indiabulls Real Estate, Tata Motors and Suzlon Energy shares were among the major stocks that gained in the Opening Bell while Lakshmi Vilas Bank, Indiabulls Housing Finance, Reliance Capital, Infosys and Fortis Healthcare were among the major stocks that were in the major losing shares today.

The Indian Railway Catering and Tourism Corporation or IRCTC issue price has settled at Rs 626, which is around 95 per cent higher than the base price of Rs 320. The maket experts were expecting around 50-75 per cent higher settlement of the IRCTC IPO, but the settled prices is beyond the expectation of the stock experts. 

Realty stocks led the bull run on Dalal Street today as the BSE Realty index rose 1.4 per cent in the intraday trade. Realty stocks led the bull run on Dalal Street today as the BSE Realty index rose 1.4 per cent in the intraday trade. Realty major Indiabulls Real Estate share price shot up 4.95 per cent, DLF shares soared 2.71 per cent, shares of Oberoi Realty added 1.31 per cent, Sobha stocks added 1.66 per cent while Sunteck Realty scrip went northward 2.13 per cent.

Among major Asian markets, the Japanese Nikkei 225 is close today. South Korean Kospi went up 1.40 per cent, Hang Seng soared 1.09 per cent while the Shanghai markets went up 1.38 per cent.