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"This is a very euphoric market where one sector or the other picks up every day and that is happening. It is very tough to read anything more into ITC moving up by 7%."

Sensex completed its journey from 57,000 to 58,000 in three days (August 31-September 3) and took eight more sessions (September 3-September 16) to scale 59,000.

Nifty50 formed a bullish candle on the daily scale and has been forming higher highs since the last three sessions.

“The PLI scheme will create modern value chain for auto industry. This policy is trying to break this cycle of localisation happening only when there is volume and volume happening only when the cost of acquisition is coming down. So the new policy would accelerate the EV industry.”

T+1 means that market trade-related settlements will need to be cleared within one day of the actual transactions taking place. Currently, trades on the Indian stock exchanges are settled in two working days after the transaction is done (T+2).

During the journey, as many as 15 NSE stocks have delivered returns of more than 10 times, rallying as much as 2,200 per cent since March 23, 2020.

Promoters held 46.55 per cent stake in the company as of 30-Jun-2021, while FII and DII ownership stood at 18.6 per cent and 11.43 per cent, respectively.

The stock quoted a 52-week high price of Rs 604.0 and low of Rs 364.3.

The Nikkei share average ended down 0.62% at 30,323.34, after rising as much as 0.36% earlier in the session, while the broader Topix slipped 0.3% to 2,090.16.

The S&P/ASX 200 index rose 0.58% to close at 7,460.2, with energy stocks leading the gains. The benchmark index ended down 0.27% on Wednesday.