
Stock Market Nifty 50 Highlights: The Indian stock market recorded strong gains on Friday, with the Sensex and Nifty rising more than 1% each as in-line earnings from IT heavyweight TCS, positive global cues and other factors boosted investor sentiment.




State Bank of India (SBI) has sold 1.42 per cent stake in its asset management arm, SBI Funds Management Ltd (SBIFM), to 30 investors for Rs 1,655 crore in a pre-IPO placement round, the bank said.
The lender sold the stake at Rs 574 per share, which is also the higher end of the IPO price band, according to an exchange filing.
SBI Funds Management's Rs 11,600-crore maiden public equity offering will open on July 14 and conclude on July 16. The entire IPO is an Offer for Sale (OFS) by promoters SBI and Amundi India Holding.









- Anand James, Chief Market Strategist, Geojit Investments
- VK Vijayakumar, Chief Investment Strategist, Geojit Investments



