Nifty 50 capped a fifth daily decline as crude oil gains and the central bank’s about‑turn on the dollar‑deposit program soured investor sentiment. Yet the primary market picked up pace, with eight of the past 10 IPOs seeing strong demand.

Despite the Nifty losing momentum in August, the surge in IPO activity shows investors remain eager. The market’s resilience is evident as fresh listings continue to attract bids, underscoring confidence in India’s growth prospects.

SEBI chief Tuhin Kanta Pandey confirmed that the new closing auction system is here to stay, even as some grumblings persist. This stability factor helps maintain market confidence amid broader volatility.

In a bright turn, shares of Adani Enterprises have rebounded to levels seen before the conglomerate’s crisis, more than three years ago, indicating a recovery in investor sentiment. Rajesh Mascarenhas notes this as a positive signal for the sector.

The day’s events underline that, even in a challenging environment, India’s IPO market remains a robust driver of capital formation.