Nifty 50 fell 77.6 points to 22,811 on Wednesday, 21 October. It rose 1% in the morning on trade-deal hopes, then gave it all back as Brent oil crossed $110. Small companies fell over 2%. Only IT shares rose.

THE STORY SO FAR - Yesterday we asked who picks the day of an IPO: An IPO Is the Day the Seller Chooses. Today, India's biggest-ever IPO opened.



India's biggest-ever IPO, worth ₹30,213 crore, opened today and was fully bid on day one. By 2:27 pm, big institutions had asked for 6.72 times their share. Small investors had asked for 0.56 times theirs.

Oil crossed $110 again on Gulf tension, and the morning's trade-deal cheer faded within an hour. Smaller companies fell far more than the big ones.

Think of a wedding buffet. The big families filled their plates first. Many small families waited at the door, reading the menu. Both are allowed. Only the reason must be your own.

THE DAY IN NUMBERS
Nifty 50 22,811 (-0.34%) → year so far -12.7%.
Bank Nifty 54,977 (-0.92%) → banks fell more than the index.
Smallcap 250 -2.26% → smaller companies fell more than six times as much as Nifty.
Foreign funds bought ₹1,022 crore, Indian funds ₹1,614 crore → foreign funds turned buyers after selling on Monday.
Rupee 94.43 per dollar, up 48 paise → a six-week high.
Brent about $110.8 → a costlier barrel means a bigger import bill for India.
22K gold ₹1,32,000 per 10 g (IBJA, before 3% GST and making charges) → down 1.6% since Monday.

ONE WORD - Subscription: how many times buyers asked for the shares on offer.


Nifty fell today, and foreign funds still bought ₹1,022 crore of Indian shares.

A buyer's reason is never printed next to the number.

Of the 50 Nifty stocks, 16 rose and 34 fell.