New Delhi, Sept. 7 -- Shares of New India Assurance Company Ltd. (NIACL) grabbed investors' attention on Monday, September 7, surging to their 52-week high as expectations around the long-awaited National Stock Exchange (NSE) IPO intensified. The sharp movement in the stock came amid unconfirmed reports that the much-awaited public issue of NSE could be launched as early as this month.

NIACL shares opened at Rs.234.35 apiece on the BSE before gaining as much as 5.5% to hit a 52-week high of Rs.242.65. The stock subsequently surrendered its gains as weakness across the broader market weighed on sentiment. From its day's high, the stock fell as much as 7.5% to touch an intraday low of Rs.224.40.

Despite the sharp intraday volatility, NIAC...