LIC emerged as the largest bidder in NSE’s ₹22,800 crore IPO with ₹4,500 crore in bids, joined by ICICI Prudential and Quant Mutual Fund. Despite cautious retail participation (1.3x), strong institutional demand (12.7x) drove overall subscription to 5.7x ahead of its September 24 listing on BSE.
Indian equities ended lower on Tuesday after morning gains faded, with Sensex dropping 330 points and Nifty witnessing a sharp closing-auction swing on expiry day. Broader markets also declined, while IT stocks weakened and realty gained. Market breadth turned negative, with 1,868 NSE stocks declining against 1,679 advancing.
Traders pointed to media reports stating that Iran had offered to reopen the Strait of Hormuz, a key energy artery,if the US eases military pressure and lifts its blockade.
Amid rising interest rates and fluctuating bond yields, JM Financial has pinpointed nine NBFCs as top stock picks. These picks showcase a diverse performance spectrum, with some stocks dipping while others have enjoyed robust gains over various timeframes. Investors are encouraged to delve into net interest margin dynamics and asset quality trends when making their selection.
Mutual funds added 24 stocks to their portfolios through at least 15 schemes in August 2026, with 11 of these stocks delivering over 25% YTD returns. Welspun Corp and Apar Industries emerged as the top performers, gaining 240% and 126%, respectively.
Bitcoin has regained momentum after breaking above key resistance levels, supported by stronger spot ETF inflows, institutional demand and a broader risk-on mood. Analysts expect the rally to face resistance near $89,500, while rising futures open interest and elevated leverage could increase volatility if fresh buying fails to keep pace.
Wall Street rallied sharply on Monday, with the Nasdaq gaining over 2% to a record close as easing oil prices and Treasury yields supported sentiment, while chip stocks surged on renewed optimism around AI spending.
Global diesel markets are facing mounting supply pressures as refinery outages, export curbs and shipping disruptions reduce availability across Europe, the US and Asia. With inventories below seasonal norms and refineries already running at high utilisation rates, further disruptions could leave fuel markets vulnerable to sharper price increases.
The European Central Bank launched Pontes, a new service connecting its payment infrastructure with blockchain markets for euro settlements. The ECB also plans to invest a portion of its EUR 23 billion own funds in digital securities, while developing a retail digital euro targeted for a 2029 release.
NSE IPO allotment: The Rs 22,562-crore NSE IPO, which was subscribed 5.71 times overall, is likely to finalise share allotment today. Investors can check their allotment status online through the registrar MUFG Intime, with NSE shares scheduled to list on the BSE on September 24.
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