BSE extends fall to trade at its lowest level since listing

Extending its six-session long losing spree, shares of BSE on Friday dipped further by 3% to trade at its lowest level since its listing on February 3, 2017 and correcting 26% from its intra-day high of Rs 1,200, touched on the debut day.

The stock shed 3% to Rs 888 in today’s session after falling 7% to Rs 917 by Thursday’s closing in the last six sessions on the National Stock Exchange (NSE).  

The country’s first Initial Public Offering (IPO) of a stock exchange had made a strong debut, with its scrip being listed at Rs 1,085, a 35% premium over the issue price of Rs 806.

The stock underperformed the market by falling 17% in the last one month as compared to 1.5% rise in the Nifty 50 index during the same period.

The BSE on February 14 declared financial results for the first time since its listing. It posted 16.8% year-on-year decline in its consolidated net profit at Rs 63.73 crore for the quarter ended December 2016. It had recorded profit of Rs 76 crore each in the December 2015 and in September 2016 quarter.

At 11:37 am; the stock was down 3% at Rs 890 with 419,056 shares changing hands on the NSE.

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