The 30-share BSE Sensex closed up 455.95 points at 60571.08

“Large banks have been leading the rally in the market for the past three odd months and my sense is that large banks is the way forward because while credit growth has been growing quite rapidly, deposit growth has not grown at equal measure. So, the small banks will face an issue related to raising of funds and deposits.”

“Cement has benefitted from the fall in raw material cost and that 30-40% drop will add to the EBITDA level. Clearly volumes are going to pick up and the largest amount of uptick will happen in the South which means companies like Dalmia Bharat, Ramco Cements as well as national players like UltraTech will benefit. JK Lakshmi will benefit from sheer valuation comfort.”

Tuesday's market action signal a formation of spinning top-type candle at the high, said Nagaraj Shetti of HDFC Securities, who said such a formation after a reasonable upmove or at the hurdle could be considered as a reversal pattern post confirmation.

Also, the company fixed the record date which is the date based on which investors’ eligibility for the dividend payout is determined. The filing further read, “Further, pursuant to Regulation 42 of the Sebi Listing Regulations, the record date for the purpose of determining the members eligible to receive the Interim Dividend has been fixed as Friday, 23 September 2022.

Like the Nifty50 index, Nifty Bank extended its gains for the fourth straight session and rose 0.74 per cent, almost in line with its headline peer.The banking index continued the momentum it had in the early hours of trade and managed to hit the intraday high of 40,904.30 on Tuesday.

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