Indian shares rise a second straight session
12:54, 26 October 2021
Indian shares gained the most in over a week to finish higher Tuesday with market players favouring real estate, metal and automotive stocks.
The National Stock Exchange’s (NSE) Nifty50 index ended 0.79% higher at 18,268.40 points, while the S&P BSE Sensex closed 0.63% higher at 61,350.26 points.
The Nifty Realty index, a basket of 10 stocks including Brigade Enterprises, advanced 3.62%.
The Nifty Metal index, a basket of 15 stocks including steel pipes manufacturer APL Apollo Tubes, gained 2.66%.
The Nifty Auto index, a basket of 15 stocks including auto parts major Bosch, rose 2%.
The Indian rupee was trading 0.18% higher to the US dollar, to INR74.95 at 17:56 hours Indian time (UTC+5:30).
On the Nifty, shares of JLR-parent Tata Motors, Tata Group firm Tata Steel, and SBI Life Insurance Company were the top gainers, adding 5.9%, 4.15% and 3.83% respectively.
IndusInd Bank, larger rival ICICI Bank, and the Power Grid Corporation of India (PGCIL), were the top losers, shedding 1.88%, 1.18%, and 0.75% respectively.
Meanwhile, on the Sensex, shares in Tata Steel, watches and jewellery maker Titan Company, and food products major Nestle India were the biggest gainers adding 3.92%, 3.2% and 2.79% respectively.
IndusInd Bank, ICICI Bank and PGCIL were the biggest losers, shedding 1.92%, 1.43%, and 1.3% respectively.
Fino public offering
Fintech firm Fino Payments Bank fixed a price band of INR560-INR577 per share for its initial sale of shares to the public, which will open for subscription on 29 October.
Fino Payments Bank hopes to raise INR12bn (£100m) at the upper end of the price band. The offer will close on 2 November, the company said in its Red Herring Prospectus or final papers, filed with the markets regulator.
Read more: India’s Canara Bank reports three-fold jump in Q2 profit
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