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The IPO of PB Fintech has raised several questions over the valuation. This is, perhaps, why the majority of brokerages have recommended investors to skip this loss-making start-up.

Edelweiss Securities’ conviction goes a notch higher as it sees SBI Cards as a “concept stock” with offering high growth and high returns.

A total of 60,774 shares changed hands on the counter till 02:03PM (IST).

The stock quoted a 52-week high of Rs 633.75 and a 52-week low of Rs 236.7.

The Nikkei share average rose 2.61 per cent, its biggest gain in more than four months, to 29,647, its highest level since late September. The broader Topix added 2.18 per cent to reach a one-month high of 2,044.72.

The blue-chip CSI300 index fell 0.4 per cent to 4,890.69, while the Shanghai Composite Index lost 0.1 per cent to 3,544.48.

The benchmark S&P/ASX 200 index closed 0.6 per cent higher to 7,370.8 points. It had closed 1.4 per cent lower on Friday.

“Maybe the market has to pause for breath, maybe it corrects downwards, maybe it goes sideways but certainly not the end of the story. It is really the beginning of a full economic cycle.”

The quota of retail bidders was subscribed 5.99 times, whereas a portion of HNI investors was subscribed merely 6 per cent. However, institutional investors did not make any bids till the time of writing this report, NSE data suggested.

“The markets are taking a breather and quite rightly so. But one should not think that it is the end of a bull market or anything of that sort. That day will come but definitely not in the next 12 months at least. ”