Mixed Close for Stock Markets

Investors remained cautious after the US Federal Reserve raised interest rates and indicated that another hike could be possible later this year. As a result, domestic stock markets ended on a mixed note on Thursday. The BSE Sensex declined 21.86 points to close at 74,314.59, while the Nifty gained 53 points to settle at 23,270.60. Meanwhile, the NSE IPO received 43 per cent subscription on the first day. Against the 8.86 crore shares offered, bids were received for 3.83 crore shares on the opening day.

Bengaluru based A-One Steels India Limited has fixed the price band for its ₹405 crore IPO at ₹385-405 per share. The issue will open on the 24th of this month and close on the 28th. The company plans to issue shares worth ₹355 crore, while promoters will sell shares worth ₹50 crore through an offer for sale. Hyderabad-based Axiom Gas Engineering Limited’s SME IPO will open on Friday and close on the 22nd. The company aims to raise around ₹50.75 crore through the issue, with the price band fixed at ₹51-54 per equity share. It has already raised ₹5.77 crore by selling 10.70 lakh shares to anchor investors at ₹54 each.