Amid NSE IPO buzz, BSE, MCX, CDSL stocks in focus today1 min read . Updated: 28 Sep 2021, 12:34 PM IST
- Stock market participants are expecting some announcement related to the NSE IPO from SEBI's meeting today
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Exchange stocks like MCX, BSE, CDSL, IEX, etc are in focus today amid expectations of some announcement related to National Stock Exchange's (NSE) initial public offering (IPO) from the Securities and Exchange Board of India (SEBI) meeting scheduled later in the day.
BSE share price opened with an upside gap of ₹12.20 apiece and went on to hit intraday high of ₹1285.75 per equity share levels. However, the stock failed to sustain the early gains and came down in the red zone making its intraday low of ₹1251 apiece on NSE.
Similarly, MCX share price today opened at ₹1737 — ₹18.75 higher from its yesterday's close on NSE and went on to hit its intraday high of ₹1744.35 apiece. However, MCX shares couldn't sustain this gain and crashed making intraday low of ₹1705 per shares.
Likewise, CDSL shares opened in green zone but slipped into the red zone. However, IEX shares recovered after losing its early morning gains. Currently, it is quoting at 598.35 — around 1.60 per cent higher from its yesterday's close on NSE.
Highlighting the reason for exchange stocks being volatile today; Ravi Singhal, Vice Chairman at GCL Securities said, "Exchange stocks are volatile because market is buzz about the NSE IPO. Market is expecting some announcement in regard to the NSE IPO from today's SEBI meeting. That's why stocks like BSE, MCX, IEX, CDSL are volatile today. However, whatever be the outcome of today's SEBI meeting, BSE and MCX would continue to remain strong buying option for investors as these stocks are looking positive from both fundamental and technical perspective."
"One can buy BSE shares above ₹1300 for the target of ₹1400 to ₹1450 maintaining stop loss at ₹1244. L:ikewise, one can buy MCX shares in ₹1680 to ₹1710 range for the target of ₹2100 maintaining stop loss at ₹1644," Singhal said.
Recommending stock market investors to buy IEX; Mudit Goel, Senior Research Analyst at SMC Global Securities said, "IEX shares have given breakout at ₹570 levels on closing basis. One can buy IEX shares at around ₹595 for the immediate short-term target of ₹640 maintaining stop loss at ₹580 per share levels."
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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