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“In the past, Indian markets have always underperformed EMs after big FII selling since they influenced the prices. However, this time India’s outperformance remains at historic high. This is also resulting in incremental foreign liquidity moving into other underperforming EMs (largely China).”

The broader market represented by BSE500 ended flat on Friday, and yet it ended up as the worst hit index, falling 1,083.33 points or 4.81 per cent for the week to 21,458.89. A total of 447 index stocks fell and only 53 could end higher.

The Delhivery offer comprises a fresh issue of shares for Rs 4,000 crore and an offer for sale by some existing shareholders aggregating Rs 1,235 crore. The company cut the issue size to Rs 5,235 crore from the Rs 7,460 crore it had planned earlier due to challenging market conditions.

Some of the stocks that have been included in the smallcap index include Aptus Value HSG Finance, Bharat Dynamics, Easy Trip Planners, Go Fashions India, Greaves Cotton, Greenpanel Industries and Gujarat Alkalies, among others.

The Nifty ended down 25.85 points, or 0.2%, at 15,782.15. The Sensex ended down 136.69 points, or 0.3%, at 52,793.62. Both indices had gained as much as 1.7% earlier in the day. Nifty Midcap 100 and Smallcap 100 indices ended 1% higher.

Most retail investors, who have subscribed to the issue, received allotment as the category was subscribed two times. In the retail category, share allotment was done based on the draw of lots. This means 50% of the applicants got allotment of at least 15 shares.

Loans to individuals rose 15% year on year led by a 11.49% growth in home loans. Retail loans crossed the ₹10 lakh crore mark for the bank during the quarter. Retail loans now make up the largest chunk of the ₹28.18-lakh-crore loan book at 23%.

Both benchmark indices ended the week with losses. The Nifty50 lost about 3.83 per cent, while the 30-share Sensex declined 3.72 per cent. The broader market also saw selling.

Total revenue from operations last quarter stood at an all-time high at Rs. 3,193 crores, which is an increase of 8.6% compared to Rs. 2,940 crores in the year-ago period. EBITDA (Earnings before interest, tax, depreciation and amortisation) went up 19.3% to Rs. 757 crores.

The Dow Jones Industrial Average rose 233.56 points, or 0.74%, at the open to 31,963.86.