Fri Sep 27 10:29:00 UTC 2024: ## Indian Markets Close Mixed, IPOs See Huge Demand

**Mumbai, India (September 27, 2024):** The Indian stock market closed on a mixed note today, with the benchmark indices recording a slight dip after reaching new all-time highs earlier in the day.

The Sensex, the benchmark index of the Bombay Stock Exchange, slipped 0.31% to close at 85,571.85, losing 264.27 points. The Nifty 50, the benchmark index of the National Stock Exchange, also dipped 0.14%, closing at 26,178.95, down 37.10 points.

Despite the dip, the broader market performed better than the frontline indices. The S&P BSE Mid-Cap index rose 0.29%, while the S&P BSE Small-Cap index gained 0.07%.

**IPO Frenzy:**

Two Initial Public Offerings (IPOs) – Diffusion Engineers and KRN Heat Exchanger and Refrigeration – witnessed huge demand from investors.

Diffusion Engineers’ IPO was subscribed 21.03 times, while KRN Heat Exchanger and Refrigeration was subscribed a whopping 196.62 times.

**Sectoral Performance:**

The Nifty Media index took a hit, declining 1.55% after a five-day rally. Saregama India, PVR Inox, and Tips Industries were among the top losers.

On the other hand, SJVN, RailTel Corporation of India, and PC Jeweller were among the top gainers. SJVN surged after signing MoUs for pumped storage and floating solar projects in Maharashtra, while RailTel received a work order from the Maharashtra government. PC Jeweller surged after its One Time Settlement proposal for outstanding dues was approved.

**Global Markets:**

European markets traded higher on Friday, buoyed by a fall in France’s inflation rate.

Asian markets also ended largely higher, with Tokyo’s inflation easing and China’s central bank unveiling a stimulus package to support the slowing economy.

**US Markets:**

US stocks soared on Thursday, with the S&P 500 reaching a new all-time high. Strong economic data and a positive earnings report from Micron Technology fueled the rally.

**Disclaimer:** This news article is based on the information provided in the original text and does not reflect the views or opinions of Business Standard.

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