Sensex surge with OIL listing

The listing of Oil India Limited (OIL) showed an overwhelming response from the investors. The share ended at an 8% high of Rs 1140.55, premium of Rs 85. The script touched an intra-day high of Rs 1156.70 and low of Rs 1090 on volume of 1,97,45,996 shares The market showed an overwhelming response for the IPO listing. The BSE Index also touched an 16 week high of Rs 17,000 and closed above it. The markets are on an increasing since the last week.
The investors are gaining faith on the markets again after a long period of Recession. The IPO market is gaining a speed as some of the IPOs already listed as on now and many new IPOs are on the way to be listed on the Indexes. The Companies are now interested in bringing their IPOs on the premium price. The earlier 2 major IPOs of NHPC and Adani Power created a disappointment among the investors as even now they are below the Issue Price. But with the listing of OIL listing the sentiments seems to change in the market. The investors will now be more interested in applying for IPOs. The Markets also showed a positive trend since many days.