1. It was a rough week for the market. The failed IPOs affected sentiments on the primary market. Wockhardt was the first IPO to bomb and then today Emaar MGF withdrew due to poor subscription figures. SVEC IPO has revised its price band and extended its closing date.
2. The weekly figures are: Sensex was down 4.3% and Nifty was down 3.5%.
3. All sectoral indices were in the negative, BSE Bankex down 6.7%, BSE Auto index down 5.3%, BSE Metal index down 5%, BSE Oil&Gas index, BSE Power index down and BSE Capital goods index, all three down 3.5%, BSE IT down 2.3%, BSE Power index down 1.5% and BSE Realty index down 0.9%.
4. So from all above one can see that relaince Power IPO may not see a good opening premium on monday and it may further lead to a fall in the market as fundamentally Relaince Power is just basking in glory due to reliance Tag name as NTPC is a number of times better than it is languishing. Reliance Power IPO will definitely open with a premium but the same may not be that much significant as envisaged.
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