Stock Market Live Updates: Sensex down 400 points, Nifty below 18K; BHEL tanks 4%; Nykaa to list today

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Watch this space as we bring you LIVE updates of the day’s proceedings from Dalal Street.

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VIEW: Chase tried and tested names than high-priced IPOs

Even though the market appears resilient, the bulls are facing major headwind in the form of sustained selling by FIIs. The ‘buy on dips’ strategy of retail investors and DIIs is countered with the ‘sell on rally’ strategy of FIIs. This tug of war between retail/DII vs FIIs is likely to continue in the short run. If the global environment for equity turns weak, accelerated selling by FIIs can trigger a minor short-term correction in the market.

Today’s trading activity in the market is likely to be dominated by the listing and trading in Nykaa.
Investors should not be carried away by the exuberance in the IPO market where IPOs are made at a huge premium. Even in this highly-valued market, there are some high-quality stocks available at reasonable valuations. For…

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