The majority of the brokerages are positive over the IPO of the Kolkata-based company and have suggested investors bid for the issue both for a listing pop and long-term gains.

The largest cryptocurrency was down about 2.5% to $59,000 as of 11:23 a.m. in Hong Kong on Wednesday, retreating for a fourth straight day. Ether fell 3.4% to $4,110 to its lowest level since Oct. 28. The top tokens were all nursing declines of at least 10% over the past seven days.

“Our portfolio’s single largest overweight sector is IT, rather than banking and that is a shift in trend that is happening and this is a decadal shift.”

The Relative Strength Index of the stock stood at 48.02 on Wednesday.

A total of 5,858 shares changed hands on the counter till 01:02PM (IST)

"There is a lack of news and this is some pure selling of spot and some additions of short selling. Outside of this, there is no significant news," said Matthew Dibb, chief operating officer at Singapore-based crypto asset manager Stack Funds.

The Nifty Realty index closed 0.14 per cent down at 545.1.

The broker has a 12-month price target of Rs 2,750 on Nykaa. The counter traded at Rs 2,194, down nearly 2 per cent on Wednesday morning. The stock has already doubled from its issue price of Rs 1,125.

The fund-raising plan involves the issuance of secured, redeemable and taxable non-convertible debentures on a private placement basis in one or more tranches of Rs 99 crore, the company said.

In the July-September quarter, the consolidated net profit of TV Today Network surged 69 per cent on-year to Rs 46.98 crore as against Rs 27.74 crore a year ago. Revenue from operations in the said quarter jumped 28 per cent on-year to Rs 226 crore versus Rs 177 crore a year ago.