<p>Indian shares edged lower on Monday after four straight sessions of gains on caution ahead of the federal budget, while broader sentiment was also hit by fears about the impact of US&nbsp;President Donald Trump&#39;s immigration curbs.</p>

<p>India&#39;s government is due to present its 2017/18 budget on Wednesday, with shares last week posting their biggest weekly gains in eight months on hopes the government will announce incentives to ease the impact from a bold and risky gamble to outlaw high-value old currency bills.</p>

<p>But further caution set in on Monday, especially as Asian shares fell on worries that Trump&#39;s ban on the entry of refugees into the US&nbsp;would prove destabilising for the rest of the world.</p>

<p>&quot;Markets are a little wary of what lies in the budget and have probably have rallied too far on the assumption that some good is in the offing,&quot; said Saurabh Jain, assistant vice-president of research at SMC Global Securities.</p>

<p>The broader NSE Nifty was down 0.14 per cent at 8,629.05 by 0546 GMT, while the benchmark BSE Sensex was 0.06 per cent lower at 27,866.14.</p>

<p>Both indexes had risen more than 3 per cent last week in their biggest weekly gains since late May.</p>

<p>IT stocks contributed to a majority of the losses on the NSE index. The Nifty IT index fell 1.15 per cent, dragged down by Infosys Ltd and Tata Consultancy Services Ltd, which lost over 1.40 per cent each.</p>

<p>Investors also booked profits in recent outperformers: the Nifty bank index, which led gains last week, fell 0.40 per cent, dragged down by HDFC Bank Ltd and Kotak Mahindra Bank Ltd. The index had gained 4.72 per cent last week.</p>

<p>(Reuters)</p>


India's government is due to present its 2017/18 budget on Wednesday

Indian shares edged lower on Monday after four straight sessions of gains on caution ahead of the federal budget, while broader sentiment was also hit by fears about the impact of US President Donald Trump's immigration curbs. India's government is due to present its 2017/18 budget on Wednesday, with shares last week posting their biggest weekly gains in eight months on hopes the government will announce incentives to ease the impact from a bold and risky gamble to outlaw high-value old currency bills. But further caution set in on Monday, especially as Asian shares fell on worries that Trump's ban on the entry of refugees into the US would prove destabilising for the rest of the world. "Markets are a little wary of what lies in the budget and have probably have rallied too far on the assumption that some good is in the offing," said Saurabh Jain, assistant vice-president of research at SMC Global Securities. The broader NSE Nifty was down 0.14 per cent at 8,629.05 by 0546 GMT, while the benchmark BSE Sensex was 0.06 per cent lower at 27,866.14. Both indexes had risen more than 3 per cent last week in their biggest weekly gains since late May. IT stocks contributed to a majority of the losses on the NSE index. The Nifty IT index fell 1.15 per cent, dragged down by Infosys Ltd and Tata Consultancy Services Ltd, which lost over 1.40 per cent each. Investors also booked profits in recent outperformers: the Nifty bank index, which led gains last week, fell 0.40 per cent, dragged down by HDFC Bank Ltd and Kotak Mahindra Bank Ltd. The index had gained 4.72 per cent last week. (Reuters)

Sensex edges lower on caution ahead of budget

<p>BSE&#39;s initial public offer -- the first by a domestic stock exchange in India -- to raise up to Rs 1,243 crore was fully subscribed by the afternoon trade today, the second day of the offer.</p>

<p>The IPO, which closes tomorrow, received bids for 1,08,89,568 shares against the total issue size of 1,07,99,039 shares, data available with the NSE till 1330 hrs showed.&nbsp;The stock exchange aims to raise up to Rs 1,243 crore from the IPO, which is priced at Rs 805-806 per share.</p>

<p>During the initial share sale -- which is also a first by any company this year -- shareholders will sell 15.43 million shares estimated to be around Rs 1,243.44 crore at the higher end of the price band.&nbsp;The IPO of 15,427,197 shares of face value of Rs 2 each will constitute up to 28.26 per cent of the fully-diluted post offer issued share capital of BSE.</p>

<p>Bids for the issue can be made for a minimum of 18 shares and in multiples of 18 thereafter.&nbsp;Last Friday BSE had raised Rs 373 crore by allotting shares to anchor investors.</p>

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<p>The IPO received bids for 1,08,89,568 shares against the total issue size of 1,07,99,039 shares (WION)</p>
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<p>BSE shares will be listed on NSE as Sebi rules do not allow self-listing for an exchange.&nbsp;Capital market regulator Sebi had given its final go- ahead to the draft prospectus for the IPO on December 30.</p>

<p>Meanwhile, rival NSE too filed draft papers with Sebi last month for an estimated Rs 10,000-crore IPO.&nbsp;Among the existing BSE, shareholders are Bajaj Holdings Investment, Caldwell India Holdings, Acacia Banyan Partners, Singapore Exchange, a Mauritius-based arm of American investor George Soros&#39; Quantum Fund and foreign fund Atticus.</p>

<p>There are an estimated 9,000 shareholders at BSE, where originally mostly brokers held shares. However, a host of foreign investors and domestic financial institutions have acquired shares over the years and the IPO will provide some of them an exit window to monetise their investments.</p>

<p>The issue is being managed by Edelweiss Financial Services, Axis Capital, Jefferies India, Nomura Financial Advisory and Securities (India) Pvt, Motilal Oswal Investment Advisors, SBI Capital Markets and SMC Capitals.</p>

<p>BSE is the world&#39;s largest exchange by the number of listed companies. It is India&#39;s largest and the world&#39;s 10th largest exchange by market capitalisation.&nbsp;The market capitalisation of BSE-listed companies stands at Rs 1,11,56,778 crore.</p>

<p>Multi Commodity Exchange of India is the only listed bourse in the country.&nbsp;</p>

<p>(PTI)</p>


The IPO received bids for 1,08,89,568 shares against the total issue size of 1,07,99,039 shares

BSE's initial public offer -- the first by a domestic stock exchange in India -- to raise up to Rs 1,243 crore was fully subscribed by the afternoon trade today, the second day of the offer. The IPO, which closes tomorrow, received bids for 1,08,89,568 shares against the total issue size of 1,07,99,039 shares, data available with the NSE till 1330 hrs showed. The stock exchange aims to raise up to Rs 1,243 crore from the IPO, which is priced at Rs 805-806 per share. During the initial share sale -- which is also a first by any company this year -- shareholders will sell 15.43 million shares estimated to be around Rs 1,243.44 crore at the higher end of the price band. The IPO of 15,427,197 shares of face value of Rs 2 each will constitute up to 28.26 per cent of the fully-diluted post offer issued share capital of BSE. Bids for the issue can be made for a minimum of 18 shares and in multiples of 18 thereafter. Last Friday BSE had raised Rs 373 crore by allotting shares to anchor investors. The IPO received bids for 1,08,89,568 shares against the total issue size of 1,07,99,039 shares (WION) × BSE shares will be listed on NSE as Sebi rules do not allow self-listing for an exchange. Capital market regulator Sebi had given its final go- ahead to the draft prospectus for the IPO on December 30. Meanwhile, rival NSE too filed draft papers with Sebi last month for an estimated Rs 10,000-crore IPO. Among the existing BSE, shareholders are Bajaj Holdings Investment, Caldwell India Holdings, Acacia Banyan Partners, Singapore Exchange, a Mauritius-based arm of American investor George Soros' Quantum Fund and foreign fund Atticus. There are an estimated 9,000 shareholders at BSE, where originally mostly brokers held shares. However, a host of foreign investors and domestic financial institutions have acquired shares over the years and the IPO will provide some of them an exit window to monetise their investments. The issue is being managed by Edelweiss Financial Services, Axis Capital, Jefferies India, Nomura Financial Advisory and Securities (India) Pvt, Motilal Oswal Investment Advisors, SBI Capital Markets and SMC Capitals. BSE is the world's largest exchange by the number of listed companies. It is India's largest and the world's 10th largest exchange by market capitalisation. The market capitalisation of BSE-listed companies stands at Rs 1,11,56,778 crore. Multi Commodity Exchange of India is the only listed bourse in the country. (PTI)

India: BSE's Rs 1,243 crore IPO fully subscribed

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Sensex edges lower on caution ahead of budget

India: BSE's Rs 1,243 crore IPO fully subscribed