Mumbai : Benchmark indices rallied steeply from intra-day loss in the last leg of the session on recovery in majors RIL, SBI and Tata Motors, helping the BSE Sensex jump by 204 points to 27,214.60 and log third consecutive weekly gain. Besides, fag-end buying and global cues also helped the NSE Nifty go past the psychologically crucial 8,200-mark.
Lenders gained the most from the surge in the final 90 minutes, which pushed the BSE banking index by 1.30 %. While, Maruti Suzuki continued upward journey and gathered another 1.56 % to Rs 4,448 on expectations of pick up in its sales during the ongoing festive season.
Other stocks from the auto space too perked up with Tata Motors rising by 1.72 % to Rs 387.25.
European stocks edged higher after a lackluster reading on the US consumer prices strengthened the view that Federal Reserve may continue to hold off on raising interest rates. Key indices in France, Germany and the UK firmed up by 0.70 % to 0.83 %. Asian shares ended up on stimulus hopes in the wake of recent weak economic data.
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Café Coffee Day IPO subscribed by 1.8 times
In the biggest IPO in nearly three years, leading coffee chain operator Coffee Day Enterprises’ Rs 1,150-crore public issue was over-subscribed 1.81 times on the last day of the bidding on Friday. The initial public offer of Coffee Day Enterprises, which runs Cafe Coffee Day (CCD) chain, generated demand worth about Rs 2,000 crore. The slot reserved for qualified institutional buyers (QIBs) was subscribed nearly 4.4 times while the category for non-institutional investors saw 53% subscription. Retail investors pie was subscribed 90%.
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