Am I Missing It Out?

The fear of missing out or, what we call Fomo, is running high in the equity space. With the charging bulls taking stocks on a seemingly unstoppable rally, the primary market too has hit the fast lane to scale new highs. A robust pipeline of public issues has given momentum to this surge. A seasoned trader in the secondary markets, Sandeep Runwal (name changed), got the whiff of a primary market rally after the 2021 Budget speech of Finance Minister Nirmala Sitharaman. Listing gains, or the price appreciation in the stock price on the day of listing, was mind-blowing. He started applying for IPOs from the second quarter onwards. But he had a hard luck. The demand for the newly issued shares outstripped supply. He didn’t get any allotment. Runwal is not the only one. There’s an increasing fear of missing the bus among traders. The reasons that propelled the secondary market...