How the Bajaj Housing Finance IPO Boosts Sensex and Nifty to Record Highs
Unexpected surge in Sensex and Nifty attributed to Bajaj Housing Finance IPO and two other offerings, driving largecap stocks upward.
On Thursday, the Sensex and Nifty hit record highs, a surprising feat for the day, largely driven by the Bajaj Housing Finance IPO and two other active IPOs. Throughout much of the trading session, the Nifty struggled to surpass the 25,000 mark. However, following 2 PM, the market experienced a significant upward movement.
The Bajaj Housing Finance IPO, which aimed to raise ₹6,560 crore, received bids totaling ₹3.24 lakh crore. Two additional IPOs, Kross and Tollins Tyres, also saw substantial interest, with nearly ₹4 lakh crore in investor wealth locked in these offerings.
As per the ASBA mechanism, funds applied for IPOs remain blocked until allotments are finalized. The unblocked capital, when released, likely fueled the stock market rally, pushing both the Sensex and Nifty to new heights. Thursday’s surge was particularly strong in largecap stocks like Reliance Industries, HDFC Bank, and Infosys, as all 50 Nifty index constituents ended the day in the green.
The weekly expiry of Nifty 50 contracts also contributed to the sharp market recovery.
