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Shares of InfoEdge shed around five per cent in the intraday session and marked a day's low of Rs 5,132.30 ahead of Zomato's IPO which opens for subscription tomorrow.
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The domestic equity markets ended the day with strong gains led by a sustained rally in the banking stocks throughout the day, favourable economic outcomes, and also support from Asian markets. The BSE Sensex closed 397 points higher at 52,769.73, while the Nifty ended with a surge of 120 points at 15,812.35.
The BSE Sensex pack closed the day with 21 advances and nine declines. Shares of ICICI Bank, HDFC, and Axis Bank were the top gainers in the pack, adding over two per cent each. The positive momentum in the banking stocks drove the Nifty Banking index above 1.5 per cent in the day's trade.
Barring IT and FMCG, all other sectors ended in the green on Tuesday, July 13. Private Banks and Financial stocks were the top contributors in the rally with both the indices adding over a per cent each.
Tracking the individuals, shares of InfoEdge shed around five per cent in the intraday session and marked a day's low of Rs 5,132.30 ahead of Zomato's IPO which opens for subscription tomorrow. InfoEdge is said to offload shares worth Rs 375 crore in the 9,375 crore IPO of Zomato.
The advance decline ratio of the overall market supported gains as nearly 957 shares closed with gains and 823 declined in the NSE.