Zomato up by over 50% in pre-open trade, Sensex drops over 100 pts

Equity benchmark Sensex tumbled over 100 points in early trade on Friday, tracking losses in index majors HDFC Bank, ICICI Bank and L&T amid sustained foreign fund outflow.

Zomato, that debuted today, saw its share price rise by over 50 percent in pre-open trade over the issue price of Rs 76. The Zomato IPO received bids of over 2,751.27 crore (27,51,27,77,370) shares against the total issue size of over 71.92 crore (71,92,33,522) shares, data available with the National Stock Exchange (NSE) showed.

After opening over 150 points higher, the 30-share BSE index pared all gains to trade 141.67 points or 0.27 per cent lower at 52,695.54 in initial deals, while the broader NSE Nifty declined 42.05 points or 0.27 per cent to 15,782.