Gaudium IVF pares gains after listing at a modest premium as markets remain under pressure
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The stock debuted at ₹83 per share on both the National Stock Exchange (NSE) and the BSE, a 5.06% premium over the upper end of its IPO price band of ₹79. Soon after listing, the stock trimmed part of its opening gains in line with the overall market weakness. The newly listed stock erased gains to hit the day's low of ₹79.05.
With this listing, Gaudium IVF becomes the first company in India's fertility care segment to tap the public markets. After listing, the company’s market capitalisation stood at ₹604.13 crore.
The listing came on a day when benchmark indices were trading firmly in the red.
Markets slide on weak global cues and FII outflows
The Indian equities witnessed strong selling pressure in early trade on Friday. The BSE Sensex declined over 550 points, while the Nifty 50 slipped below the 25,300 mark, down 0.80% in the morning session.
Among Nifty constituents, UltraTech Cement, Shriram Finance, and Max Healthcare Institute were among the major laggards, falling up to 2%. Eternal and Infosys gained up to 2%, offering limited support.
Except for IT, all 15 major sectoral indices were trading in the red. The broader Nifty Smallcap100 and Nifty Midcap100 indices were down up to 1%.
IT stocks, which have corrected nearly 20% so far in February amid concerns around artificial intelligence-led disruption, rose 1.9% at the open.
What is weighing on the markets
Asian markets traded lower, with South Korea’s Kospi, Japan’s Nikkei 225 and Shanghai’s SSE Composite index in negative territory.
Overnight, US markets ended mostly lower. The S&P 500 and European equities closed in the red after Nvidia reported quarterly earnings. Despite better-than-expected results and strong revenue guidance of $78 billion for the first quarter, Nvidia shares fell 5.5%, dragging semiconductor stocks and denting sentiment. Tech-heavy Asian indices tracked losses in the Nasdaq.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,465.99 crore on Thursday. Persistent overseas selling has added pressure to domestic equities, as capital outflows weigh on liquidity and sentiment.