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On the technical charts, the 200-day moving average of the stock stood at Rs 2394.93.

The stock quoted a 52-week high price of Rs 1696.15 and a 52-week low of Rs 1097.8.

The issue was subscribed 65 per cent by 10.25 am on Day 2. It saw applications for 7,94,12,905 shares so far against the total issue size of 12,25,46,150 shares. The IPO is entirely a fresh issue.

Oil prices rose on Friday, set for their sixth weekly gain, amid concerns of tight supplies as major producers continue their policy of limited output increases amid rising fuel demand. Brent crude futures climbed 49 cents, or 0.6%, to $89.83 a barrel at 0310 GMT, after falling 62 cents during the previous day. However, prices did reach $91.04 earlier in that session, the highest since October 2014.

Investors can bid for a minimum of 17 equity shares and in multiple of 17 thereof. The IPO can be subscribed till February 8, Tuesday.

Analysts said Kotak should see a reduction in stress but the behaviour of the ECLGS lending pool & restructured portfolio coupled with the management commentary on the same would be keenly watched.

“There is hardly anything in India today that has value in absolute terms. But stocks that are closer to value or stocks have come off without any structural challenge with their business, is where there will be more push. ”

“For India per se, the cyclical rebound is doing very well and we expect it will continue to pick up in the next couple of quarters….In India, the GDP is growing despite the government spending shrinking and this is something that needs a lot of attention of the markets and as well as for policy makers.”

The recent fall in Bitcoin indicates that cryptocurrencies are no longer a stand-alone risk asset and are reacting to changes in global factors. On average, SHIB (Shiba Inu) has more buyers than sellers, indifferent to the rising or falling prices, said WazirX Trade Desk.

“We are on thin ice but investors should not get too perturbed. We just have to ride out this wave of selling pressure and volatility and focus on good quality companies. We like HDFC Bank, ICICI, Axis, Kotak in the largecap private sector space and SBI as far as PSU banks are concerned. We also like Larsen & Toubro, ITD Cementation in the infra space.”