Business

Chinese stocks sank again on Tuesday, despite a rebound in markets elsewhere in Asia, as investors despaired at the lack of policy action from Beijing in response to recent data suggesting the downturn in the world's second-largest economy is deepening.

The sentiment also turned buoyant after the government said it would consult with the opposition to conduct a special session of Parliament to pass the much-awaited GST Bill.

The government's 10 per cent stake sale in Indian Oil Corporation on Monday was over-subscribed despite high market turmoil even as retail investors shunned the biggest disinvestment of this fiscal by picking up less than one-fifth of the quota.

Attributing the stock market crash to global turbulence, Finance Minister Arun Jaitley on Monday said the government and RBI were watching the situation and hoped that things will stabilise once the transient impact is over.

The WPI number follows retail inflation data which had slipped to a record low of 3.78 per cent in July.

SBI on Wednesday said the fine imposed by Hong Kong Monetary Authority (HKMA) on its arm for alleged violation of local anti-money laundering.

About 711 shares have advanced, 2124 shares declined, and 160 shares were unchanged.

Market regulator Sebi has directed two companies -- PAFL Industries and Kolkata Aryan Food Industries -- to refund the money they had illegally raised from investors.

BHEL lost 6 per cent.

The rupee recovered by 12 paise to 64.04 against the dollar in early trade on Tuesday on fresh selling of the US currency by exporters.

About Wipro, Premji said the company is making significant investment in its workforce to enhance digital skills.

The 30-share BSE Sensex climbed 265.39 points or 0.95 per cent to close at 28198.29 and the 50-share NSE Nifty gained 69.70 points or 0.82 per cent at 8523.80.

Lower opening in the domestic equity market, weighed on the rupee

Sentiment got a boost after Finance Minister Arun Jaitley on Monday said the government will soon infuse capital in public sector banks, equity brokers said.

It moved in a range of 63.57 and 63.46 during the day, before ending at the same opening level of 63.52, showing a gain of three paise, or 0.05 per cent, from its last weekend's level.

Union Finance Minister Arun Jaitley said that the feedback he is receiving is that investors need a stable policy regime and the Indian government is committed to that.