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The retailer has plans to open more than 2,000 brick-and-mortar stores annually with a focus on smaller markets. At the same time, Reliance wants a larger share of the ecommerce pie with JioMart, Ajio Reliance Digital and a new platform dedicated to third-party sellers.

The International Energy Agency (IEA) said Wednesday it expects widespread switching from gas to oil for heating purposes, saying it will average 700,000 barrels per day (bpd) in October 2022 to March 2023 - double the level of a year ago. That, along with overall expectations for weak supply growth, also helped boost the market.

Markets are now pricing in a 30% chance that the Federal Reserve increases benchmark interest rates by 100 basis points at its meeting that ends Sept. 21, up from a 0% chance before the inflation data was released. Some analysts have also penciled in bigger rate hikes in coming months.

A historically high 52% of respondents said they are underweight equities, while 62% are overweight cash, according to the bank’s global fund manager survey, which included 212 participants with $616 billion under management in the week through Sept. 8.

Earlier on September 7, another promoter entity Gelt Bery Trade and Investment, bought 140 shares in Adani Enterprises. Shares of Adani Enterprises, which more than doubled in the last six months, ended half a per cent higher at 3,572 on Wednesday. Adani Enterprises will replace Shree Cement in the Nifty 50 index from September 30.

L&T Finance is seeking to raise up to 5,000 crore via public sale of bonds, which are rated as triple-A by rating companies ICRA and India Ratings

Stocks that were in focus included names like Fortis Healthcare, which closed with gains of nearly 6 per cent, Allcargo Logistics gained more than 5 per cent, and Ambuja Cements ended with gains of nearly 8 per cent.

The odds for a 100 basis point rate hike jumped more than 20% after the consumer price index showed an increase from July. With hopes of a “Fed pivot” firmly dashed, the S&P 500 Index tumbled as much as 3.2%.

Similar trends were witnessed in Nifty, which declined 66.30 points or 0.37 per cent and managed to end the day at 18,003.75 points. With the higher than expected inflation reported in the US in August, there are now concerns that the US Federal Reserve is likely to go for aggressive rate hikes, pushing global markets into the red.

They said premises linked to certain payment gateway operators, some companies engaged in these loan app transactions and operators in around three states are being searched. A spokesperson for Paytm said the action was linked to the same matter where the agency had undertaken searches earlier this month.