In a simple language, the move to renewables and EVs will mean that the demand for certain metals and minerals from copper to lithium will move up, for some, by an order of magnitude.

Shares of Vijaya Diagnostic Centre, listed on September 14, 2021, at Rs 542.30, have since then fallen around 30 per cent from their 52-week high of Rs 672.50.

The International Monetary Fund (IMF) and ratings agency Moody's criticised Britain's new economic strategy announced on Friday, which has sparked a collapse in the value of British assets. Investors braced for more havoc in bond markets that has already forced the Bank of England to promise "significant" action.

“The valuations are rich but it holds for smallcaps and midcaps too. These are companies which are offering growth and probably many of them might have decadal opportunities to become much larger companies than what they are today. Some of these are in sectors which lend themselves to discretionary consumption, to the unorganised to organised shift. Some are benefiting from PLI schemes for manufacturing.”

Further in another development, M&M acquired 21,14,349 equity shares constituting 17.41% of the paid-up equity share capital of Swaraj Engines from Kirloskar Industries. Consequently, the shareholding and voting rights of M&M in Swaraj Engines stand increased from 34.72% to 52.13% and Swaraj Engines now becomes M&M’s subsidiary with effect from 27 September, 2022.

The Nifty IT index closed 0.24 per cent up at 27067.65.

The US 10-year Treasury yield hit the 4 per cent mark before easing a bit while the US Dollar index touched a new multi-year high of 114.78. The rupee hit a record low of 81.94 against the greenback.

Those reserves are forecast to fall another $23 billion to $523 billion by the end of this year, according to the median forecast from a Sept. 26-27 Reuters poll of 16 economists. If realised, that would be the lowest level in over two years.