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In the Sensex pack, M&M, Bajaj Finserv, IndusInd Bank, and Tata Motors were the top laggards, falling over 2% each.

“Use fall to buy into hotel stocks. The next three-four years are good for most of these hotel stocks and they have got bought into a lot. On any sign of negativity, they get sold off the most. That is happening now. Overall, as a longer term view, it is good for them to accumulate and keep on accumulating over the next few weeks.”

The company was reportedly exchanging hands at a premium of Rs 50-55 apiece, compared to its issue price of Rs 54, signaling a listing pop of about 100% for the allottee. However, its premium stood at Rs 75 at peak.

Overseas investors bought $6.6 billion worth of bonds in India, Indonesia, Malaysia, South Korea and Thailand after withdrawing a net $3.2 billion in the previous month, data from regulatory and bond market associations showed.

During 2017-22, corporate profit growth across sectors bounced back smartly, propelled by tax rate cuts, reduction in the banking sector NPAs and post-pandemic tailwinds after a weak two-year base.

Against the issue price of Rs 357 apiece, shares of Sula Vineyards were listed at Rs 358 on BSE and at Rs 361 on the National Stock Exchange (NSE), making the landing flat for the investors.

“We are one of the largest players on the distribution side where we earn commission from the manufacturers. We are the regular planned mutual fund distributors and we will remain there. Direct plan players were the competitors for us. Now with an execution-only platform coming in, some element of cost will be added in the direct plan and the gap between direct and the regular plan would reduce.”

Silver, other than being a precious metal, has more usage in the industrial sectors and thus, industrial demand also guides its movement. Furthermore, gold also holds influence over silver prices.

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A total of 33,895 shares changed hands on the counter till 02:00PM (IST).