China-Plus-One strategy (it’s a business strategy to avoid investing only in China and diversify the business into other countries) will aid many sectors in India which is evident in exports, said Pankaj Tibrewal, senior executive vice president and fund manager-equity at Kotak Mahindra AMC.

Metal stocks have slipped in trade led by Steel Authorities of India Ltd (SAIL) and Tata Steel after Jefferies said it is less optimistic on the sector citing weak macros and demand concerns in China. Watch the accompanying video of CNBC-TV18’s Nigel D’ Souza for more details.

Vodafone Idea share price: Shares of Vodafone Idea tumbled 20 percent as today's announcements made by the telecom operator failed to excite the Street. The board of directors has given a nod to convert interest on spectrum instalments, AGR dues, into equity. After the conversion, Government will hold around 35.8 percent in Vodafone Idea. The telecom operator will hold 28.5 percent stake and Aditya Birla Group will own 17.8 percent stake. CLSA said this conversion will result in massive equity dilution to all existing Vodafone Idea shareholders. The brokerage firm has maintained its 'underperform' rating on shares of the telco with a target price of Rs 16.

Constant gains have been witnessed on metal space, where aluminum prices are trading at a 2-month high and nickel prices are trading at 1-month high. The Shanghai inventories are trading very close to all-time lows that were seen in the month of August in 2020 at around Rs 4,455 per tonne, right now the inventories stand at Rs 4,850 per tonne.