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Central bankers are widely expected to raise interest rates three-quarters of a percentage point at their meeting Wednesday, and investors think there is even a small chance of a full percentage-point move.

Nifty has now crossed the key resistance at 17,700-17,800 level. Analysts said the index has to hold above 17,777 for an up move towards 18,000 and 18,088 zones, whereas support exists at 17,667 and 17,550 zones.A day ahead of the outcome of the Fed meeting, volumes in the cash market were lower by 10 per cent compared to the average of the last ten days.

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“One large sector continues to be banks and the entire BFSI space. Second, the entire industrial and capital goods basket, which is facing tailwinds from China plus one, Europe plus one stories and at the same time, kickstarting of government as well as private capex cycle. Third would be the entire construction space and fourth Pharma.”

“We are at that inflection point and we are here to stay and the growth is going to continue to play out and one of the stellar reasons is that during the unwinding of the trades when the markets were collapsing, a large part of the Indian corporates went light on leverage, repaid debt and cut costs. They have become lean and mean.”

“We believe Torrent Pharma is amongst the best in class with margin at the current level and business would continue to grow in terms of double digit revenue growth and that itself would generate a momentum which would improve the margin further. On the other hand, our last seven-eight years’ growth has been substantially driven through the acquisitions that we made.”

According to NSE data, on September 19, Nalanda India Equity Fund purchased 29.1 lakh equity shares of Advanced Enzyme Technologies for Rs 78.62 crore. The foreign portfolio investor purchased shares at Rs 270.03 each.

The fund owns a portfolio of 10 to 14 quality financial companies (banks, NBFCs, life insurers, general insurers, asset managers, brokers) that have good corporate governance, prudent capital allocation skills and high barriers to entry.

Foreign investors withdrew from emerging Asian equities excluding China for a fourth straight week, pulling $858 million in the period through Sept. 16, according to the latest exchange data compiled by Bloomberg. The longest run of outflows since July has pushed regional currencies to historical lows, further dampening the outlook for stocks.

The board of directors of the company will be held on Thursday, September 22, 2022, to consider, inter alia, the proposal of raising of funds by issue of equity shares by way of a rights issue to the eligible equity shareholders of the company,” Bombay Dyeing said in a BSE filing.