It was an extremely disappointing listing for Reliance Power. On the BSE, the share opened at Rs 547.80 against its issue price of Rs 450 but immediately it drifted below its issue price and traded below that level for the entire day. It closed at Rs 372.50, with volumes of 6,38,82,239 shares.

Prior to Reliance Power's IPO news, predominant power stocks moved smartly and traded near their peak levels. Most of the analysts were expecting Reliance Power to list around Rs 500-550. HNIs with leveraged positions were expecting to make money if the stock listed above Rs 600.

But as the market started slipping on the back of global cues, which had an adverse impact on Reliance Power's grey market issue price premium, and as a result all the predominant power stocks started falling. Stocks like Areva T&D, Torrent Power and Power Grid Corp have lost over 40% from their peak (52-week high). Reliance Energy slipped 39%, GVK Power down 36% from their peak.

Company Name	Last Price	% Loss	52-Wk High	% Loss
Areva T&D	1728.75	-3.68	3280.00	-47.41
Torrent Power	146.60	-15.88	269.90	-47.20
Power Grid Corp	98.10	-7.10	167.45	-40.49
Reliance Energy	1611.00	-17.94	2631.70	-38.78
GVK Power	59.65	-7.95	93.50	-36.20
Suzlon Energy	302.15	-2.56	460.00	-34.32
NTPC	193.00	-5.07	291.00	-33.68
CESC	500.00	-6.34	715.00	-30.07
Tata Power	1210.00	-9.58	1641.00	-26.26