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Friday, March 9, 2012

MCX IPO lists with a bang



Much awaited listing of the MCX shares took place today rewarding investors as per their expectations. The stock was listed at Rs. 1408 on the National Stock Exchange to touch the high of Rs. 1428.55.
By the time of this post stock was trading at Rs. 1345 with around 40 lakh shares changing their hands.
Stock was trading in the range of 95 points.
Stock breadth was highly negative with 3 sellers for 1 buyer. On the listing day a major chunk retail investors book profits and that’s the reason for negative breadth.
The stock was issued at Rs. 1032 and at the current price of Rs. 1345 stock gave a handsome return of 30%.
When annualized this returns come as hopping around 738%.

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