China’s stock market opened nearly flat and edged up 0.12% to 3,088.54 as the Chinese ruling Communist Party’s twice-a-decade congress remains in session this week. Chinese state banks are stepping up intervention to defend the weakening yuan, banking sources told Reuters on Monday, while many companies have announced share buyback programmes.
Mcap of 8 of top-10 firms erodes by Rs 1.55L cr
Recently, the market witnessed a downturn, with eight of the leading firms in India suffering major valuation losses. The declines of HDFC Bank and Bajaj