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Earlier this week, the two exchanges BSE and NSE asked investors to refrain from investing in unregulated derivative products
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The market regulator also imposed a penalty of Rs 50 lakh on Kotak Mahindra AMC, which is to be paid within 45 days
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The Nifty Metal index was the star of the day with gains of 1.63%, followed by the Nifty Pharma index advancing 1.38%.
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Sensex settled 175.62 points or 0.31% higher at 56,124.72, while the broader NSE Nifty gained 68.30 points or 0.41% to close at a record 16,705.20
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Despite a subdued quarter, most companies gave a strong outlook going forward, with demand expected to improve from Q2FY2022
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Investors must stick with quality stocks, ensure their positions are well hedged
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A temporary breather after ~8% rally over the past four weeks would present an incremental buying opportunity to build a quality portfolio.
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Stocks like Amara Raja Batteries, Jindal Stainless, Shyam Metalics and Maruti Suzuki India have slumped than 5% this month.
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Moving past 16,700 and staying there is critical. Even though I don't see any sharp corrections but range-bound trade is expected on the Nifty
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Shares of the public sector lender traded almost flat at Rs 152.85 in the early deals on August 27, Friday.