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Under the SAST (Substantial Acquisition of Shares and Takeovers) rules, CDEL and CDTL were under an obligation to disclose pledged and unpledged transactions to the company and stock exchanges within two working days of the disposal (pledged) /acquisition (unpledged) of shares exceeding 2 per cent of total shareholding or voting rights in the company.

"The index witnessed a brief consolidation near 15,700-15,800 throughout the day and took a leap on the upside towards the end of the session. The hourly chart shows that the Nifty50 is moving up in an upward sloping channel and can test the upper channel line near 16,000

​​The blue-chip Dow Jones Industrial Average gained 409 points or 1.3%. The broader benchmark, the S&P 500, rose 1.2% and the Nasdaq Composite advanced 0.9%.

Currently, dividends that are below 5 per cent of the market value of the underlying stock are deemed ordinary dividends and no adjustment in the strike price is made for such dividends.For extra-ordinary dividends, which will be at and above 2 per cent of the market value of the underlying security, the strike price would be adjusted

According to the data from depositories, the net outflow by foreign portfolio investors (FPIs) from equities crossed Rs 2.15 lakh crore on a year to date basis, which may increase further by the end of the month."One positive factor is that our domestic inflows in the markets have been able to absorb this significantly and have helped in containing further risks,"

“We are expecting an earnings recession now with earnings going down and that will be the second part of the market. Hopefully we will bottom out by September-October, if not, then it goes to February. It is just a rally within a correction in India and within a bear market in the US and these are the sharpest rallies and we should not get taken in by them.”

The Nifty Bank index closed 0.5 per cent down at 33642.45.

“Markets are not through with their worst. There could be some sideways movement, there could be spending time off by the indices at these levels and possibly some of these could still play out, but yes, markets seem to be desperately looking for some kind of a respite and that explains the rallies.”

"However, our recent channel checks in Africa indicate a massive slowdown in the region due to sharp decline in consumer spending amid high inflation, sharp increase in vehicle prices and currency devaluation," it said, expecting huge pressure on exports over the near to medium term.

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