Latest Stock Market News

Barring select names in the media sector, buying was broad-based. Metal, telecom and financial services stocks were among the biggest gainers. Thanks to this, equity investor wealth rose by Rs 2.7 lakh crore.

“The market loves to buy growth and I firmly believe that this is the beginning of a change in the composition of index in days to come and we as fund managers have to be ahead of it and recognise some of it.”

It took Sensex just 17 months to add 31,000 points from a March 2020 low of sub-26,000 level to hit 57,000 level for the first time ever on Tuesday. This is against 31 years (since its inception in 1986) the index took to touch the 31,000 mark for the first time in May 2017.

“Sectors that have gone through a time value correction would start going up. Not on the basis of the earnings but from a pure valuation angle, they may hope to get recognised.”

The issue had opened on August 25, and closed on August 30, 2021, and the bank had targeted to raise up to Rs 3,000 crore equity capital through this issue.

On the Multi Commodity Exchange, nickel contracts for the August delivery gained Rs 4.20, or 0.29 per cent, to Rs 1,448.50 per kg in a business turnover of 1,707 lots.

The Nikkei share average climbed 1.08% to 28,089.54, closing above the 28,000 level for the first time since Aug. 12. The broader Topix gained 0.54% to 1,960.70.

Australian stocks took cues from solid current account data and an upbeat New York session overnight, Jeffrey Halley, a market analyst at OANDA, said in a note.

At the close, the blue-chip CSI300 index ended 0.16% lower, with the consumer staples sector down 1.58% and the healthcare sub-index down 1.98%.

A total of 13,414 shares changed hands on the counter till 02:14PM (IST).