Daily Market Updates: NSE stock drops out of India’s top 10 most valuable firms

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NSE stock drops out of India’s top 10 most valuable firms

The stock is also trading below its IPO price band, with nearby support cited around ₹1,760 after moving below the ₹1,785 level.

Reported · Written up by our desk · India

LiveMint Markets reports that NSE shares have slipped after their post-listing decline, with the company moving out of the top 10 most valuable Indian listed stocks by market capitalization.

The outlet says the stock broke below the IPO price band of ₹1,785, and it is seeing an immediate support level around ₹1,760. It had debuted on the BSE at ₹1,800, and reached an intraday high of ₹1,878 on its listing day before selling pressure took over.

According to LiveMint Markets, NSE was ranked India’s 10th most valuable stock by market cap right after listing, but it is now at 12th. The outlet adds that Sun Pharmaceutical Industries and Hindustan Unilever Ltd sit just above NSE at 11th and 10th, respectively.

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Sources

LiveMint MarketsNSE slips to 12th spot in list of most valuable Indian stocks; experts see more dip , check support, resistance, outlook

Global Markets

NSE stock drops out of India’s top 10 most valuable firms

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