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Shares price of Varun Beverages (VBL) rallied over 10% in intraday trade on Wednesday to hit a fresh all-time high. The positive momentum resumed after the breakout of fortnightly consolidation with huge volume suggesting the strength of the trend. The histogram contracted on the downside to move towards the zero line, which leads to an upward slant.

Powell said on Wednesday it was time to slow the pace of coming interest rate hikes while also signalling a protracted economic adjustment to a world where borrowing costs will remain high, inflation comes down slowly, and the U.S. remains chronically short of workers.

The inhouse system developed by Sebi is called Picture based Information News Accumulator and Key Information Analyser (Pinaka). Television channels typically display suggestions made inhouse or by an external analyst. These include buy or sell calls along with price recommendations and who has made them. More detailed guidance such as stop-loss recommendations are also provided at times.

Stocks in Asia extended gains following a sharp rally on Wall Street after Federal Reserve Chair Jerome Powell signaled a slowdown in the pace of rate hikes. Japanese equities rose, Australians shares headed for a seven-month high and US and Hong Kong futures climbed.

The Sensex is trading at around 22 times its one-year forward earnings, compared with the historical average of 18-19 times, perhaps anticipating an uptick in corporate earnings ahead due to the fall in commodity prices, analysts said.

Sebi said obligations arising out of cash segment settlement and physical settlement of F&O segment, upon expiry of stock derivatives, should be settled on net basis as against the current approach of settling such obligations separately.

"(The market) has waited with bated breath, looking for that clarification in terms of duration and extent of Fed tightening. And anything that gives hope to the idea the Fed is becoming less hawkish is viewed as a positive for stocks, at least on a short-term basis," said Chuck Carlson, Chief Executive Officer at Horizon Investment Services in Hammond, Indiana.

The 50-stock Nifty closed 0.8% higher at 18,758.35 points and the 30-stock Sensex settled 0.7% higher at 63,099.65 points. In 7 sessions, indices have gained more than 3%.

The BlackRock Investment Institute (BII) said in its 2023 global outlook that while the case for investment credit has brightened and short-term government debt yields looked attractive, the pressures of higher interest rates would weigh on longer-term sovereign bonds.

In August, venture capital fund Sequoia Capital had sold 2% stake, which followed the sale of the entire 7.8% stake by Uber and a 2.3% stake sale by Tiger Global Management.