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Nifty50 formed a bearish candle on the daily scale, with a longer lower shadow, indicating declines are getting bought into.

Under the current regulations, a company that is acquiring 49 per cent stake in a listed entity and sees its total stake rise over the 75 per cent mark post an open offer has to forcefully reduce its stake below the minimum public shareholding mark.

Analysts say multiple supports are placed near the 17,600 level, but they do not rule out high volatility in the coming days. They advised traders to be cautious with their short-term trading positions.

The board approved the Gold Exchange and SEBI Vault Managers Regulations, 2021 that allow bourses to set up a gold exchange in India.

The proposal for the creation of a Social Stock Exchange was put forth by Finance Minister Nirmala Sitharaman in her Budget speech in July 2019.

Jio will now offer 20% cashback on popular pre-paid recharge options, which means Jio’s plans are now almost 30% cheaper than the rivals. This is a major setback for Bharti Airtel and, in particular, for Vodafone Idea, which is banking on price hikes to salvage its operations after the relief provided by the government.

IT and realty stocks were among the biggest drags. Respective Nifty indices fell 2-3 per cent. On the other hand, PSU bank, power, oil & gas and metal indices ended in the green.

Petrol demand is already above the pre-pandemic, and as of September, it is almost around 7.5% above September 2019 demand. of September. The demand is going to be there, so that will keep the diesel cracks and the petrol cracks high.

The 30-share BSE Sensex closed down 410.28 points at 59667.6

“We like IT, especially digital focused companies and infrastructure and construction as well as Indian economy-facing stocks. ”