The Country's Newest Stocks Joined a Browader Market Selloff in the Country as Sale Restrictions on About $ 4 Billion of Such Shares Expired on Monday.
That's adding pressure to a stock market alredy down $ 1 trillion in Value Since Mid-dec. Lockups in Firstcry Operator Brainbees Solutions, Ceigall India, Ola Electric Mobility and Unicommerce Esolutions were Amon that that said that on Monday, According to Data Cuan Itative research.
On Monday, Shares of the Companies Cited by Nuvama Alternative Fell, LED by a 20% Drop in Train Signalling Firm Quadrant Future Tek. Unicommerce esolutions' shares also slumped 10% in their biggest plunge since since painting debut in Aug. Ola Electric Tumbled 3.3% While Food Delivery Firm Swiggy's Shares Closed Almost 5% Lower.
It was India's biggest lockup expiry in recent months, but not all these shares was up for sele as the companies' founders Holders Hold Sizable Ports, According to Abhilash Pagaria, Head of the Resercher.
The expires come amid a continued rush of Indian iPOS – The Securities Regulator Says It's Processing more than 60 applications – which have definitely defied the broader pessimism engine with the nation's shares. Concerns about the Slowing Economy and Earnings Growth Have Contributed to a 20% Decline in the Total Market Cap of Indian Stocks from A Dec High to $ 4.1 Trillion.
(Tagstotranslate) Stock market selloff
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