Equity benchmarks slipped into red in morning trade as the Sensex fell 173.37 points to 32,227.14 and the Nifty dropped 58.50 points to 10,082.65.
The market breadth was weak as about two shares declined for every share rising on the BSE.
Shares of Matrimony.com, the online matchmaking services provider, listed at its issue price of Rs 985, the higher end of price band. But the stock soon soared over 3 percent post listing.
The company raised Rs 500 crore through the issue that comprised of fresh issue of up to Rs 130 crore and an offer for sale of up to 37.67 lakh equity shares.
The public issue, which opened for subscription during September 11-13, was oversubscribed 4.44 times.
The category reserved for qualified institutional buyers (QIBs) was oversubscribed 1.88 times, non institutional investors 41 percent and retail individual investors 18.16 times.
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