MSCI's gauge of stocks across the globe rose 8.20 points, or 0.98 per cent, to 847.61. The STOXX 600 index fell 0.88 per cent, while Europe's broad FTSEurofirst 300 index fell 19.25 points, or 0.96 per cent. Analysts at BofA noted the S&P 500 was up 23 per cent for the year, but if the 12 largest companies were excluded the gain was only 8 per cent.
The increase in activity within the secondary market, especially among small and midcap stocks, drove these exits. That apart, India’s healthcare and pharmaceutical sectors raised Rs 14,811 crore through initial public offerings (IPOs) in 2024, the largest since 2019, driven by strong domestic demand amid expanding global opportunities. In the primary markets, meanwhile, Unimech Aerospace and Manufacturing Limited IPO in the mainline section will open for subscription today, while subscription windows for five mainline IPOs (Concord Enviro Systems Limited IPO, Sanathan Textiles Limited IPO, Mamata Machinery Limited IPO, Mamata Machinery Limited IPO, and Transrail Lighting Limited IPO), and one SME segment IPO (Newmalayalam Steel Limited IPO) are headed for a close.
On Friday, benchmark equity indices BSE Sensex and Nifty 50 witnessed a sharp correction, ending the week's last trading session down by over 1 per cent each. The Sensex tumbled 1,176.46 points, or 1.49 per cent, to end Friday's trading session at 78,041.59.
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