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Sundar Sethuraman covers equity markets and investment banking. Starting his career as a desk hand, he moved to a reporting role in 2016 and has worked in New Delhi, Mohali and Mumbai. He stumbled into journalism after wasting his prime in the bylanes of Trivandrum. He manages an Instagram page about his home town in memory of his flaneur days. He prefers political news over spectator sports and peppers his conversations with film references, and has read more blurbs than books. A keen explorer of Mumbai's food scene, he is the go-to resource for restaurant recommendations in Business Standard's Mumbai office.
Sundar Sethuraman covers equity markets and investment banking. Starting his career as a desk hand, he moved to a reporting role in 2016 and has worked in New Delhi, Mohali and Mumbai. He stumbled into journalism after wasting his prime in the bylanes of Trivandrum. He manages an Instagram page about his home town in memory of his flaneur days. He prefers political news over spectator sports and peppers his conversations with film references, and has read more blurbs than books. A keen explorer of Mumbai's food scene, he is the go-to resource for restaurant recommendations in Business Standard's Mumbai office.
The Nifty50 index fell 89 points, or 0.5 per cent, to close at 17,630. The India Vix index rose 2.6 per cent to finish at 18.82
BNP Paribas said it has a cautious stance on the Indian markets amid lack of positive catalyst for further earnings upgrades amid slowing global demand, lofty valuations and a slowdown in retail flows
IT stocks saw maximum selling by FPIs in the last fortnight at about Rs 3,998 crore, weighing on its performan
Financials and pharma stocks led the advance amid positive flows from foreign portfolio investors
The Nifty Pharma index finished at 12,750, up 3.1 per cent - most since May 20 and third biggest single-day gain of the year
With foreign flows turning negative and global markets on tenterhooks, it remains to be seen if investors will continue to 'buy the dip'
The dollar in the last three sessions rose 0.7 per cent against the rupee
The company allotted 68.4 lakh shares at Rs. 330 per share
Sensex swings 1,232 points before settling 224 points lower; FPIs pullout Rs 1,400 cr
The institutional investor portion was subscribed 0.06 times, the high net worth individual (HNI) portion by 5.8 times
Sensex less than 2% shy of new lifetime high
Industry players said domestic funds decided to book profits on valuation concerns around strong influx of foreign flows
Many are beefing up their investment banking teams and pitching for deals which otherwise would have gone to larger banks
Experts say valuation comfort and the buzz around large buybacks have jump-started interest in IT stocks
Both indices ended the day off their intraday highs, with the Sensex finishing at 59,793, up 105 points or 0.18 per cent, while the Nifty50 at 17,833, up 35 points or 0.2 per cent
The Nifty, on the other hand, ended the session at 17,798, with a gain of 174 points, or 0.9 per cent
In August, 7 companies file DRHPs to raise Rs 10,425 cr - the most in 5 months
Despite the positive flows, the allocation in IT at 10.7 per cent dropped for the fifth consecutive month and is the lowest since March 2018
The successful listing follows a strong response to the company's maiden share sale, which had garnered nearly 57 times subscription last month
TMB is looking to issue 15.84 million fresh shares in the IPO. At the upper end of the price band, the bank will raise Rs 832 crore and will be valued at Rs 8,314 crore