Punjab Newsline | Mumbai
Indian equity markets traded higher on September 16, with benchmark indices posting strong gains amid buying interest in FMCG and auto stocks. The BSE Sensex surged around 400 points to trade near 74,400, while the NSE Nifty advanced 130 points to cross the 23,250 mark during intraday trading.
Market sentiment remained positive as investors increased exposure to consumer goods and automobile counters, which emerged as the top-performing sectors of the day.
Meanwhile, three initial public offerings (IPOs) — SS Retail, Jindal Supreme and Hero Motors — opened for subscription on Tuesday. Investors can place bids for these public issues until September 18.
Through their respective IPOs, SS Retail aims to raise ₹500 crore, Jindal Supreme plans to mobilize ₹124.88 crore, while Hero Motors is looking to garner ₹1,000 crore from the primary market. The offerings are expected to attract investor interest amid the ongoing momentum in Indian equities.
