Abhay Doshi, co-founder, UnlistedArena, said despite pricey valuations, the company has a strong business model leading to strong subscription during the three-day bidding process.

Concerns over China’s economic outlook dampened risk appetite, boosting demand for the safe-haven dollar. The dollar index climbed 0.8% to 107.80, while the offshore Chinese yuan declined by about the same margin.

The majority of the analysts remain positive on the counter in the longer run suggesting investors to stay put as they see more steam left in the shares. However, a few suggested booking profits after the listing pop.

“We still believe Russian production will decline about 0.6 million barrels per day from here, with risks of a deeper, more abrupt disruption, still present,” the bank said, warning that inventories could deplete once again in the first half of 2023 if OPEC and its allies maintain current output quotas.

Market participants believe that new highs are on the cards. Analysts suggest that positions in select stocks can reward investors.

Stocks that were in focus include names like Bank of Maharashtra which rose over 8%, PB Fintech was up 8%, and Nazara Technologies rose nearly 7% on Friday.

BofA Securities maintained a buy rating on Glenmark Life with a target price of Rs 560. Sustainable growth drivers are in focus.

The death cross is a technical indicator of bearishness. The death cross appears on a chart when a stock’s short-term simple moving average (SMA) crosses below its long-term moving average on the downside.

In the NSE list of stocks with a market cap of over Rs 1,000 crore, four stocks crossed their previous 5-year high value at the close on November 18, suggesting bullishness in counters.

Overall performance in consumers was majorly driven by value as volumes remained subdued on a higher base. While commodity costs have shown signs of stabilisation, many of them remain at high levels.