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The Dow Jones Industrial Average rose 169.58 points, or 0.55%, at the open to 30,846.94

This week’s rally came on the back of short covering in index heavyweights like TCS, Infosys, ICICI Bank, HDFC and HDFC Bank, which weigh around 33 per cent in Nifty. Reliance was the party spoiler which lost 3.5 per cent thi

The capital markets regulator in January 2019 laid down the process for payment for applications in the public issue of units of these new investment instruments through the facility of Applications Supported by Blocked Amount (ASBA).

“We have this term at Sequoia that we call user love, which means --do your customers – be they consumers or businesses– absolutely love your product because if they love your product, they will pay you for it, they will pay you more than what it cost for you to make.”

The Nifty Pharma index closed 0.42 per cent up at 12178.4.

In the current scenario, 10 per cent will mature at 16,700. A report by domestic brokerage ICICI Securities said that it expects the index to gradually resolve higher and extend pullback towards the 16,600 region in coming months wherein strong support is placed in the vicinity of 14,800-14,600 zone, which is 80 per cent retracement of CY-21 rally (13,596-18,604), at 14,600.

On the domestic equity market front, the BSE Sensex ended 462.26 points or 0.88 per cent higher at 52,727.98, while the broader NSE Nifty gained 142.60 points or 0.92 per cent to 15,699.25.

Even as the domestic headline equity index Nifty50 is 16 per cent off the record high, Zerodha and True Beacon co-founder Nikhil Kamath says that India remains one of the most expensive stock markets in the world.​

Silver prices also declined by Rs 621 to Rs 59,077 per kg from Rs 59,698 per kg in the previous trade. "Spot gold prices for 24-carat gold in Delhi fell by Rs 70 reflecting overnight fall in COMEX gold prices," said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities.

“I do not know how things will evolve, the world is simply too uncertain and too volatile for me to predict how long this will last but at this moment, all of us are dealing with levels of inflation which very few of us have seen before and that is the reality and it is true in India and it is true across the world.”