THE NIFTY TOOK A PAUSE AFTER CLOSING LOWER FOR FOUR DAYS

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• The Indian benchmark indices broke a four-day losing streak to end on a flat note in a highly volatile session on September 25. At close, the Sensex was up 14.54 points or 0.02 percent at 66,023.69, and the Nifty was up 0.30 points at 19,674.55.

• The public issue of JSW Infrastructure was subscribed 28 percent so far on debut, with bids coming in for 3.81 crore equity shares against an IPO size of 13.62 crores on September 25. All investors have started participating in the first public issue of the JSW Group company in the last 13 years, with retail investors buying 1.08 times the allotted quota and high net-worth individuals 31 percent shares.

• India is considering spending 600 billion rupees ($7.2 billion) to provide subsidised loans for small urban housing over the next five years, two government sources told Reuters. Banks are likely to roll out the scheme in a couple of months, ahead of key state elections later this year and general elections due in mid-2024. Last month, the South Asian country cut cooking gas prices for households by about 18% to rein in inflation ahead of elections.

Source: Economic Times,  Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint

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Kiran Tahlani, Elite Wealth Limited, kirantahlani@elitestock.com

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