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A total of 210,077 shares changed hands on the counter till 11:47AM (IST).

“The global market backdrop continues to be weak due to the strong economic data from the US. The paradox of good economic news turning out to be bad news for markets is playing out. Data from US on consumer confidence, jobless claims, and Q3 GDP numbers surprised on the upside, indicating continuation of the hawkish monetary stance from the Fed,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

ICICI Prudential Life Insurance Company, incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 64715.51 Crore) operating in Financial Services sector.

“I think the biggest headwind that still remains is that of inflation. We do not really think that the entire inflation piece, even if we exclude the volatile food and fuel items, is totally behind us because the latest inflation data in India shows that while the headline is showing a visible trend line decline, the core inflation still remains to be sticky.”

FOMO (fear of missing out) was common among many new investors as they lost track of winners while trying to time the market amid the ups and downs led by fears related to Fed rate hikes, Russia-Ukraine war, inflation and recessionary projections.

Nifty50 breached the 18,000 mark on Friday and the next big support for the index is placed at 17,900 levels. Experts advise investors to pick quality socks on dips.

Data analysis of the past 15 years suggests that BSE smallcap index has given negative returns in only five instances since 2007. But in the following year, the index has surged over 30%, with 2019 being an exception.

"We are very positive on autos, especially Maruti. It is going to see some exciting new models and some of the existing models like Grand Vitara. There is a huge demand for that and if they keep up the supplies going over there. Overall, input prices have flattened out and with higher volumes and lower raw material cost, we should see a good improvement in the operating profit margins as well."

Ahead of listing, shares of Landmark Cars were exchanging hands at a discount of 15-20 in the grey market against the issue price.

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