New Delhi, Sept. 17 -- Shares of New India Assurance Company jumped 9.4%, while IFCI gained 7.8% on Thursday, 17 September, amid the opening of the NSE IPO.

New India Assurance holds a 1.42% direct stake in NSE, according to the exchange's Red Herring Prospectus, making it a direct beneficiary of any value unlocked through the listing. Stock Holding Corporation of India (SHCIL) holds a 4.4% stake in NSE, while IFCI is a promoter of SHCIL.

Recent price action in both counters has remained volatile, largely driven by developments surrounding the NSE IPO. Both stocks witnessed strong gains during the morning session on Thursday, followed by profit booking at higher levels.

According to Rajesh Bhosale, Technical Analyst at My Advisor Alpha...