“Digital economy in India scaling up & here to stay. POWRZs is an acronym for stocks that represent the emerging areas in the new economy and the world and also represents some of the companies which are potentially getting listed in the next 12 to 18 months. ”

The mutual fund, previously known as Essel Mutual Fund, has filed papers with the Securities and Exchange Board of India to launch a Navi Electric Vehicles and Driving Technology FoF.

The Nifty Pharma index closed 0.94 per cent down at 14355.15.

In the Nifty pack, 18 stocks closed in the green, while 32 stocks ended in the red.

Nifty50 formed a bullish candle on the weekly scale and higher highs for the seventh week. Now it has to continue to hold above the 17,600 level to extend the move towards 17,777 and then 18,000 levels while on the downside support can be seen at 17,500 and 17,350 levels.

The Chennai-based company, backed by former Blackstone Inc. senior fund manager Mathew Cyriac, plans to lodge the listing documents with the Indian securities regulator as soon as next week, the people said.

Evergrande’s main banks were told by China’s housing ministry this week that the developer won’t be able to make interest payments due Sept. 20, according to people familiar with the matter.

The recently concluded listing of Sansera Engineering and the forthcoming issue of Paras Defence and Space Technologies are commanding a strong premium in the grey market, thanks to the record-breaking market rally.

Equity investors were left poorer by Rs 1.70 lakh crore, as their total wealth represented by BSE market capitalisation declined to Rs 259.08 lakh crore.

Hopes from the new leadership, rising COVID-19 vaccinations and easing infections have powered a 8.58% jump in the Nikkei share average for the month so far. Despite a fall in the past two sessions, the index is still ending with a 0.39% weekly gain, marking an increase for fourth straight week.