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Sensex and Nifty ended lower for a sixth straight session on Friday, reversing from earlier gains. Both benchmark indexes of share market logged their fifth straight week of losses, the longest weekly losing streak since 2020. Indian markets started on a positive note but later wiped off all the gains in later half. We still believe that markets might fall further on inflation and rate hike worries. Investors are advised to remain invested in quality stocks and keep adding stocks on major dips in SIP mode. Further trading with strict targets and stop loss is recommended. Indian equity markets may witness small corrections in the near term; however, the bounce back will be sharp led by recovery in the domestic cycle and corporate earnings. Technical analysis suggests that Nifty may reclaim 17,800 in one year, while Sensex is likely to top 59,000,The government has fixed the issue price of LIC shares at Rs 949 apiece, the upper end of the IPO price band, ahead of the listing of the country's largest insurer on May 17.However, LIC policyholders and retail investors have got the shares at a price of Rs 889 and Rs 904 a piece, respectively. The Initial Public Offering (IPO) of Life Insurance Corporation (LIC) closed on May 9 and shares were allocated to bidders on May 12. The government sold over 22.13 crore shares or 3.5 per cent stake in LIC through the IPO at a price band of Rs 902-949 a share.
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