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In the international market, gold was trading higher at $1,815 per ounce and silver was flat at $24.16 per ounce.

FPI activity doesn’t indicate exuberance. On the contrary, they appear to be cautious. There is a significant change in FPI investment strategy in recent weeks. They are buying bonds aggressively for the first time in 2021 and persisting with selling in the equity markets.

The funds would be raised on private placement basis in one or more tranches, according to the notice for 52nd Annual General Meeting (AGM) to be held on September 24, 2021.

Nifty50 surpassed the psychologically important 17,000 mark and extended its move to close the day with a decent gain of more than 200 points. It formed a bullish candle and continued its winning streak for the seventh consecutive session.

Analysts said there are no signs of weakness and momentum on the index looks pretty strong, but feel the index could take some breather near the 17,200 level after seven days of relentless buying.

Sharp upswing in two sessions has taken Nifty50 to extreme overbought territory on shorter time frame charts and daily charts, which suggest that bouts of profit booking may be witnessed going ahead.

It is a global phenomenon but from a Cummins standpoint we are part of a global integrated supply chain. We definitely are experiencing difficulties. We definitely have higher lead times but we are in a position where we are able to meet demand.

AU SFB stock tanked 13 per cent today, after sinking 5 per cent on Friday after a media report said that the head of Internal Audit at the bank’s Jaipur head office Sumit Dhir has resigned.

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.”