Shares of Zomato continued to remain under the pressure on Monday, diving another 10% to go below Rs.100 on the Bombay Stock Exchange. This was the lowest level since Zomato debuted in July last year.
The stock has dived over 25% in the last five marketing sessions. However, It is still up more than 34% since its IPO issue price of Rs.76. Paytm was also exchanged nearly 4% lower at Rs.924. It is down from its equipment price of Rs.2,150.
Sensex collapsed over 200 points in opening trade on Monday, trailing losses in index majors Wipro, Bajaj Finsley, and Infosys amid a mainly negative trend in global markets.
ICICI Bank rose 1.5% after India’s second huge private sector lender beat profit expectations on the back of powerful loan extensions and lower bad loan supply.
Besides, constant foreign fund outrush also puts pressure on domestic equities. Shareholders are keeping an eye out for earnings reports from various companies, including Axis Bank and HDFC Asset Management.
The Sensex was trading 233.53 points or 0.40% lower at 58,803.65 in early trade. The Nifty fell 73.70 points or 0.42% to 17,543.45. In the former session, The 30 Share index ended 427.44 points or 0.72% lower at 59,037.18. The NSE Nifty jumped 139.85points or 0.79% to 17,617.15.
Asian exchanges in Hong Kong, Seoul, and Tokyo were trading with dropping mid-session deals, while Shanghai was in the green. For now International oil benchmark Brent crude rose 0.92% to USD 88.70% barrel.
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