Jio Financial Hits 5% Lower Circuit In The First Hour Of Listing, Sensex Jumps

Shares of Jio Financial Services Ltd (JFS) hit 5% lower circuit on BSE within the first hour of listing. Current market price of JFS share is Rs 251.75 apiece with intraday fall of 5.00%. JFS stock opened at Rs 265.00 apiece, touched the day's high of Rs 278.20 apiece, and day's low of Rs 251.75 apiece, respectively.

It is worth mentioning here that Shares of Jio Financial Services Ltd (JFS), the demerged financial business of Reliance Industries Ltd, have been listed at Rs 265 per shar eon BSE, 1.18% premium over the discovered price of Rs 261.85 apiece on July 20. Meanwhile, JFS shares have been listed on NSE at Rs 262 apiece.

Jio Financial Services has a market capitalisation of Rs 1,59,943.93 crore at 10:38 am.
It is important to note that Jio Financial is admitted to dealings in the "T" group securities on BSE.

The Stock will have a 5% circuit filter for the next 10 trading sessions.
Jio Financial will also remain in the indices of FTSE Russell and scheduled to be added to MSCI Global Standard Index effectively from August 23, 2023.

FTSE has reportedly reversed the decision to exclude Jio Financial from its indices from August 22 as it was claimed earlier.

Jio Financial Services shares got credited to eligible shareholders of Reliance Industries (RIL) earlier last week in the ratio of 1:1.

Meanwhile, 30-share BSE Sensex gained 141.61 points or 0.22% to 65,090 in morning trade defying weak global cues. Nifty 50 soared 39.75 points or 0.21% to 19,349. Nifty Bank gained 102.65 points to 43,953.70 and Nifty Midcap 100 jumped 185 points to 38001.30.
From the Sensex pack, shares of Power Grid Corp, NTPC, Bajaj Finance, and Tata Motors emerged as the top gainers.
Shares of Reliance Industries, Mahindra and Mahindra Ltd, and Larsen & Toubro Ltd were the laggards.
European Markets ended lower on Friday as FTSE & DAX fell 0.7% each.
On Friday, the Dow Jones Industrial Average gained 0.07%, S&P 500 ended marginally lower, and Nasdaq Composite fell 0.2%. It is worth noting that Nasdaq dipped for 3 consecutive weeks for the first time since December 2022.
Japan's Nikkei 225 declined 0.55% thus ending the week at 31,450.76. Topic ended 0.7% down at 2,237.29 soon after inflation data was released. Meanwhile, Hong Kong's Hang Seng index fell 1.97% and CSI 300 index fell 1.23% to end at 3,784.