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Nifty50 index ended 0.8 per cent lower at 17,873.9 points, while the BSE-Sensex closed at 59,919.69 points, down 0.7 per cent. Today’s sell-off reduced investors’ notional wealth by Rs 1.3 lakh crore.

The Nifty Auto index closed 1.18 per cent down at 11690.15.

The KokoSwap platform is a decentralised platform that combines the practices of NFT trading, NFT gaming and crypto trading to create a decentralised and enriching environment.

On the technical charts, the 200-day moving average of the stock stood at Rs 870.0.

A total of 126,849 shares changed hands on the counter till 02:02PM (IST)

The stock quoted a 52-week high price of Rs 141.75 and a 52-week low of Rs 83.2.

The company is commanding a premium of Rs 55-60 per share or 5 per cent over its issue price in the grey market.

Amongst all the new age companies that are going for IPOs, so far the only company that has built a sustainable business and can generate sustainable cash flows is Nykaa, points out Hiren Ved

Marwadi Shares and Finance said that considering the FY-21 adjusted EPS of Rs 4.60 on post-issue basis, the company is going to list at a P/E of 42.83 with a market cap of Rs 3,896.3 crore while its peer namely Happiest Minds is trading at a P/E of 112.85.

"Investors bought shares whose prices proven undervalued relative to their latest outlook. We have been seeing a clear contrast in stock prices between those with strong earnings and those without," said Ikuo Mitsui, fund manager at Aizawa Securities.