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The Nifty Pharma index closed 0.28 per cent down at 23383.65.

Dental products company Laxmi Dental Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).

ETMarkets research showed that around 15 stocks were added to the portfolios of more than 15 mutual fund schemes in August, a decrease from the number added in July.​

The crypto market in 2024 has seen notable developments, including the launch of Bitcoin and Ethereum ETFs. Analysts highlight five altcoins to watch: Solana, Ethereum, Injective, Toncoin, and Angry Pepe Fork. These cryptocurrencies are expected to see price increases in the coming weeks despite current market challenges.

Kaustubh Gupta of ABSL AMC anticipates a potential 25 to 50 basis point rate cut by the US Fed, aiming for faster normalization rather than signaling a crisis. He expects the Fed to cut rates by 225-300 basis points over the next 15-18 months, with RBI following suit by cutting rates by 50-100 basis points.

SBI Mutual Fund held a 6.4% allocation in RIL in August.

The rupee closed at 83.75 against the U.S. dollar, up 0.1% from its close at 83.8875 on Monday. The currency touched a peak of 83.71 during the session, its highest since August 1.

Investec predicts that using advanced tech in ideal locations will boost energy production significantly. Combined with a greater focus on selling directly to customers, this should result in a 60% annual profit growth over the next six years.

The non-institutional investors (NIIs) subscribed to the issue 8.23 times while the quota reserved for qualified institutional buyers (QIBs) was booked at just 3%. In all, 2.5 lakh share bids were received from QIBs around this time against 58,98,528 shares available for booking.

The company has recently canceled its DVR (Differential Voting Rights) shares and is replacing them with ordinary shares. According to the new scheme, shareholders will receive 7 ordinary shares for every 10 DVR shares they previously held. Axis Trustee Services, acting as an Independent Trustee, will now manage the distribution of the sale proceeds.