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Energy-intensive cryptocurrency "mining" is done by computers, and has come under criticism from environmentalists as a big source of demand for mostly fossil fuel derived electricity.

Interest-rate swaps referencing the June meeting of the Federal Open Market Committee price in around 12 basis points of an increase. A full hike is fully priced into the September meeting, with a second hike by February 2023.

Two years ago, RBL also made its international entry by acquiring the British toy retailer, Hamleys while last year it acquired a 46.6% stake in Genesis Luxury Fashion, which operates brands such as Armani, Canali and Michael Kors.

Retail sales rose a seasonally adjusted 0.7% in September from the month before, the U.S. Commerce Department said Friday. While that was a bigger number than economists had expected, concerns are mounting as to how resilient shoppers will be as they head into the crucial holiday season, should rising prices stick and frustrations grow amid short supplies.

BofA analysts believe that policymakers and politicians are now worried inflation will damage growth and approval ratings, resulting in a broad-based policy pivot from pro-growth to anti-inflation policies.

Asian and European equities also advanced as traders cheered better-than-expected data indicating the US recovery remains on track, despite inflation concerns and the imminent end to cheap cash.

“Give your daughter only a modest quantity of gold ornaments for her wedding. Gift her a portfolio of bluechip stocks.”

“Even if there is a shock in one pillar like a downturn in the flow of foreign money, it will be complemented by the domestic institutions and retail investors,” said Mangesh Ghogre, executive director and head of equity capital markets at Nomura India.

Strong results from a clutch of banks, including Citigroup and Morgan Stanley, propelled the S&P 500 to its biggest daily percentage gain since early March on Thursday, while data on the labor market and inflation eased fears over the outlook for higher rates.

The shareholding data published by Apollo Pipes shows Ashish Kacholia no longer holds more than 1 per cent stake in the company. At the end of June quarter, he held 3.58 per cent or 4,68,969 shares of the firm. He had maintained his stake in the firm at the same level for six quarters.