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The S&P BSE Sensex was trading at 67,158 at the opening time, down 62.59 points or 0.09%, and the broader market Nifty50 was up 40 points or 0.20% and trading at 19,952.

Stock has provided a breakout from the falling channel with a bullish crossover on its daily MACD.

“Within the overall broader space we did initiate a few new ideas. Raymond was one such idea that we initiated recently. We believe that the company has strengthened its business in the last few years. It has got new senior leadership restructured its group. The promoters have put in capital. It has a good mix of strong established brands be it Raymonds, Park Avenue, Colour Plus, Ethnics which it now plans to grow in a asset light franchisee model.”

"Largecap indices corrected close to 2.5% in August. However, Nifty Midcap 100 and Nifty Smallcap 100 index gained 3.7% and 4.6%, respectively. The distribution of gains is quite widespread. We expect this trend to continue for some more time as smallcap valuations have not reached those euphoric levels that we have witnessed in the past. We are also seeing good domestic flows in mid and smallcap funds which is extending the rally of non-large cap stocks."

HDFC Mutual Fund, Axis Mutual Fund, Nippon India Mutual Fund, Aditya Birla Sun Life Mutual Fund, SBI Life Insurance, HDFC Life Insurance Company, Abu Dhabi Investment Authority, Morgan Stanley Asia (Singapore) Pte, Elara India Opportunities Fund, and Government Pension Fund Global are among the anchor investors.

Fed Chair Jerome Powell underscored the "higher-for-longer" mantra for rates in a speech at the annual Jackson Hole central banking symposium in August and maintained another rate hike might still be needed to bring inflation down to the 2% target.

The corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, rose 3.2% in August from a year earlier, matching a median market forecast.

Arm, controlled by SoftBank Group Corp., will close its order book a day early on Tuesday, but is still planning to price its shares on Wednesday, the people said, asking not to be identified because the matter is private. It’s not uncommon for books to close early on an IPO, which often indicates strong demand.