The rupee showed signs of improvement whereas global crude oil prices eased further, which also influenced the mood of the market.

The market began the day lower and plunged sharply in the later half, continuing to prevailing corrective phase

Broader Midcap and Smallcap indices underperformed Sensex, falling 1.32 percent and 1.43 percent, respectively.

After opening with gains, the market benchmark kept trading flat as investors kept awaiting government#39;s clarity on reports of a corporate tax rate cut

BSE Midcap and Smallcap indices outperformed benchmark Sensex, logging gains of 0.20 percent and 0.51 percent, respectively

In sync with Sensex, BSE Midcap and Smallcap indices edged up by 0.10 percent and 0.11 percent up, respectively.

The breadth of the market also improved as 1,319 stocks logged gains against 1,156 that suffered losses. As many as 140 stocks remained unchanged

The broader markets ended lower with BSE Midcap and Smallcap losing 2.4 percent and 1.5 percent, respectively.

For the week, the Nifty50 rose 1.02 percent to post its first weekly gains after 5 weeks, while the SP BSE Sensex closed with gains of 1.25 percent for the week ended August 9.

Sectorally, the SP BSE Auto index rose 2.7 percent, the SP BSE Energy index gained 3.1 percent, and the SP BSE IT index closed 1.9 percent higher.

Indiabulls Housing Finance was the top Nifty loser, down 13 percent, followed by MM which fell 5.6 percent post Q1 results, and Tata Steel closed 4.9 percent down.

The broader markets outperformed the benchmark, with BSE Midcap and BSE Smallcap ending with gains of 1.4 percent and 1.7 percent, respectively.

Nifty Bank closed with losses of nearly 2 percent or 556 points weighed down by losses in YES Bank, RBL Bank, Kotak Mahindra Bank, SBI, and ICICI Bank.

For the week, Nifty50 posted second-biggest weekly fall of 2019, down 2.8 percent while the SP BSE Sensex close 2 percent lower for the week ended August 2nd.

Selling was seen in sectors like metals and media that were down over 3 percent each, followed by PSU Bank, and IT. Nifty Bank closed 508 points lower at 28,367.

According to market sources, the IPO would be worth about Rs 500-600 crore.

The stock opened at Rs 825 on the National Stock Exchange, against issue price Rs 856

The reserved category for qualified institutional buyers (QIBs) subscribed 1.02 times while non-institutional investors saw 89 percent subscription and retail individual investors 29 percent.

The company#39;s market valuation was at Rs 2,231.19 crore on the BSE.

The IPO, which was opened during July 29-31, was subscribed 86.49 times on strong response from across investors categories.

The IPO comprises a fresh issue of Rs 400 crore and an offer for sale of 93,56,725 equity shares, including anchor portion of 42,08,886 equity shares.

Choice Broking has come out with its report on Spandana Sphoorty Financial. The research firm has recommended to "Subscribe#39;#39; the IPO in its research report as on August 2, 2019

Mehta Equities has come out with its report on Spandana Sphoorty Financial. The research firm has recommended to "Subscribe#39;#39; the IPO in its research report as on August 5, 2019

Choice Broking has come out with its report on Sterling and Wilson Solar. The research firm has recommended to "Subscribe#39;#39; the IPO in its research report as on August 03, 2019

Mehta Equities has come out with its report on Sterling and Wilson Solar. The research firm has recommended to "Subscribe#39;#39; the IPO in its research report as on August 05, 2019

Motilal Oswal has come out with its report on Sterling and Wilson Solar. The research firm has recommended to "Subscribe#39;#39; the IPO in its research report as on August 05, 2019

While assigning three-out-of-five rating to the issue, Centrum Wealth also suggests investors can subscribe to the issue from a long term perspective. It believes it is fairly priced.

The leading anchor investors include Nomura India Investment Fund, Schroder International, and Abu Dhabi Investment Authority among others.

The shareholding of promoters Shapoorji Pallonji and Company Pvt Ltd and Khurshed Yazdi Daruvala will be reduced to 49.11 per cent and 25.01 per cent from 65.77 per cent and 33.33 per cent respectively, post issue.

"SSFL#39;s successful exit from corporate debt restructuring (CDR) mechanism in March 2017 (well ahead of scheduled date of Mar’18), consistent profits along with a healthy asset book, builds confidence in the prospects," Centrum Capital said.

Total AUM of domestic MFs increased 1.2 percent MoM to Rs 24,50,000 crore in July after declining 6.5 percent in June, led by inflows in income and debt-oriented, equity and ETF schemes

Net inflows into equity schemes increased to Rs 8,092 crore in July

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