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In the international market, gold was trading in the green at $1,776 per ounce and silver was flat at $22.72 per ounce.

The Nifty Pharma index closed 0.39 per cent up at 14334.25.

According to the draft papers, the Chennai-based company is expected to raise Rs 600-700 crore through its initial public offering (IPO).

Media stocks were under the spotlight amid the announcement of the ZEE-Sony merger. Realty stocks also saw massive buying as Karnataka cut stamp duty. However, banks and financial services ended down.

A total of 44,203 shares changed hands on the counter till time (IST).

On the technical charts, the RSI of the stock stood at 46.18.

The plan, once implemented could push foreign investors, who account for about a fifth of the India’s market capitalization, to not only upgrade their custodial arrangements but also spend more on foreign exchange charges and other costs.

Upstox currently has 5 million users a shade below Zerodha’s over 6 million users. The online discount broker has managed to double its users from around 2.5 million in March, reflecting the sheer pace of user acquisition in the market.

“More than sectors, I find the prices at which the IPOs are coming in a little worrying and that includes in the IPOs in the old economy sectors as well.”

On the technical charts, the RSI of the stock stood at 57.7.