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Analysts said upsides in the stock benchmarks were capped as investors and traders were, at the time, awaiting US consumer inflation data after trading hours in Mumbai on Wednesday.

International benchmark Brent futures climbed 17 cents to $92.05 a barrel at 12:02 GMT, while U.S. West Texas Intermediate crude (WTI) rose 19 cents to $88.71.

Adani Group is in talks with banks to refinance debt taken on to fund its purchase of Ambuja Cements, with lenders divided into three categories in what could be one of Asia’s largest syndicated loan deals of the year, Bloomberg reported.

The net long position of foreign portfolio investors increased from Rs 46,143 crore on Tuesday to Rs 60,567 crore on Wednesday.

With the Reserve Bank of India (RBI) mandating banks to maintain an incremental CRR of 110% of net demand and time liabilities and the resulting squeeze on liquidity, CD issues once again increased. Moreover, deposit growth at 13.2% is still lagging behind credit growth, which was 14.2% as of August.

Macquarie believes that with Axis Bank acquiring a significant stake in Max Life Insurance, there could be more involvement at the board level by the bank. Axis Bank has increased its stake in Max Life Insurance to 19% from 13% last month.

The FCI sells wheat to flour mills and other bulk consumers under the open market sales scheme (OMSS) to keep domestic prices down. In June, it had offered 1.5 million tonnes of wheat under this scheme. However, wheat prices continue to remain firm. Industry executives have cited the lower volumes offered by FCI at its weekly tenders as one of the reasons for the increase in wheat prices.

The so-called core consumer price index, which excludes food and energy costs, advanced 0.3% from July, marking the first acceleration since February, Bureau of Labor Statistics data showed Wednesday.

Nifty’s progress is a testament to the trust Indian and foreign investors place in India’s capital markets and its regulatory legal system to provide a fair, efficient, transparent, low-cost, always available, orderly marketplace that is better than the best in the world