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Dalal Street analysts believe that after the recent rout in IPO or platform-based stocks, Delhivery IPO will test the relish for other upcoming startup IPOs, pipelined to hit primary markets to raise funds with initial stake sales.

Even as the index is in oversold territory, as suggested by the 14-day RSI reading of 27, analysts said the trend broadly stays negative and the index could retest a swing low of 15,670 sooner than later. For the day, the index closed at 15,808, down 359 points or 2.22 per cent.

At the interbank forex market, the rupee opened steeply lower at 77.52 against the greenback and moved in a range of 77.36 to 77.63 in the day trade. The rupee finally ended at 77.40, down by 15 paise over its previous close. The rupee had settled at 77.25 against the US dollar on Wednesday.

Life Insurance Corp of India’s $2.7 billion share sale, a milestone for Prime Minister Narendra Modi’s administration and the biggest ever in the country, had its final size cut by 60% as the war in Ukraine dented risk appetite.

“Cryptos make for a brilliant, volatile market. Kichee and wrapped tokens give it a fair amount of stability. Kichee will interest everyone. Being a wrapped asset and crypto with a cause, Kichee will attract all pockets of crypto investors. We will understand the investors and their responses only after the launch.”

The continent-wide STOXX 600 index slid 1.7%, reversing much of the mid-week gains. Technology, automakers and mining stocks were the top losers among sectors.

The benchmark Nikkei 225 index fell 1.77 percent, or 464.92 points, to end at 25,748.72, while the broader Topix index gave up 1.19 percent, or 21.97 points, to 1,829.18.

“One should buy the strength part of the market and normal screeners will tell you enough about what groups are holding up well in this carnage. Buy those and only 20% should go into the really 90% down stocks or 95% down stocks if you believe that fundamentally they do not deserve to be there. ”

“In the last five years, the cost of acquisition of small cars, the entry hatches have gone up almost 40% and that has resulted in a dip in the sales for the hatch segment. This is the central issue which we have been conveying to the media at large and how we are trying to overcome this by focussing our efforts on other segments.”

Dabur India Ltd., incorporated in the year 1975, is a Large Cap company (having a market cap of Rs 88569.61 Crore) operating in FMCG sector.