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At 11.59 a.m., BTC was trading 0.5% higher at $38,112, while the second most popular token, Ethereum, was up 2.6% at $2,091. Dogecoin also surged over 3.5% to $0.08.

“Typically in an IPO cycle, we find that towards the end of the IPO cycle, valuations get slightly stretched, which is what you have seen in 2021, in 2017 and even in 2008. However, this time we are seeing good quality, well-governed companies and the valuations have also been fairly reasonable. ”

Five Nifty50 stocks also managed to hit new 52-week highs

Flair Writing stock listed at Rs 503 per share, a premium of 65.4% over its IPO price of Rs 304. The debut was above expectations, given the strong fundamentals of the company and the positive investor sentiment surrounding the IPO.

A total of 39,768 shares changed hands on the counter till 02:08PM (IST)

Metro Brands Ltd. key Products/Revenue Segments include Footwear and Other Operating Revenue for the year ending 31-Mar-2023.

“There are only 150 midcaps to play with whereas anything beyond 250 is smallcap. So, there are still some pockets of value within the smallcaps. But in the midcaps, some valuations are stretched. We are looking at a Santa Claus rally going ahead. We will see largecaps participating in this one.”