Stock Market Live: Nifty, Sensex may start lower tracking mixed global cues

The Indian rupee fell on Wednesday, pegged back by persistent dollar demand by public sector banks, which was mostly due to the monthly expiry of currency futures.

The rupee was at 83.4875 to the US dollar at 11:08 a.m. Read more

ICICI Bank share price hits record high, ICICI Bank m-cap tops $100 billion: Shares of ICICI Bank have been on a steady uptrend, rising 30 per cent over the past one year; not far behind Axis Bank stock that surged over 32 per cent during the period. The BSE Sensex, meanwhile, is up 24 per cent, and the BSE BANKEX 21.3 per cent in the last one year, ACE Equity data shows. Read more

The Union Budget should increase eligibility thresholds under safe harbour provisions from current levels of up to Rs 200 crore in international transactions to Rs 2,000 at least, according to the National Association of Software and Service Companies (Nasscom), which represents India’s $200 billion technology industry.

Shares of CE Info Systems dropped by 6 per cent at Rs 2,271 per share on the BSE in Wednesday’s intraday trade. The stock price has corrected 14.3 per cent from its 52-week high of Rs 2745, touched on June 21, 2024. The stock had hit a 52-week low of Rs 1,164.30 on July 05, 2023. 

Indian government bond yields are expected to be largely unchanged in early trade on Wednesday, as investors continue to remain focused on foreign flows ahead of the inclusion of Indian debt in a global index on Friday.

The benchmark 10-year yield is likely to move in a 6.95 per cent-6.99 per cent range, following its previous close of 6.9858 per cent, a trader with a primary dealership said. Read more

 

Sanghi Industries stock slipped up to 5.8 per cent at Rs 96.50 on the NSE in Wednesday’s early morning deals. This came after the company’s promoters on Tuesday, scheduled an offer for sale (OFS) to divest up to a 3.52 per cent stake in Sanghi Industries, setting the floor price at Rs 90 per share for June 26-27.

Several banks have sought clarity from the Reserve Bank of India regarding the implementation of guidelines issued on March 6, which mandate offering customers the option to choose from multiple card networks for credit cards. 

The Reserve Bank of India’s directive requires banks and non-banking financial companies to provide this choice both at the time of issuance and renewal. This directive will take effect from September 6, 2024. Read more

DEE Development listing: DEE Development Engineers made a robust stock market debut on Wednesday, with its shares getting listed at Rs 339, a 67 per cent premium over its issue price of Rs 203 on the National Stock Exchange (NSE). On the BSE, the stock of the piping solutions company listed at Rs 325, 60 per cent higher against its issue price.

Shares of Vedanta dipped 6.5 per cent to Rs 424.50 on the BSE in Wednesday’s intra-day trade after over 2 per cent equity of the company changed hands via block deals.

Asian stocks stuttered in choppy early trade on Wednesday as markets braced for a key US inflation reading, while the yen lurked just shy of 160 per dollar level, keeping traders on alert for another round of intervention by Japanese authorities.

Time Technoplast stock jumps: Shares of Time Technoplast soared as much as 5.49 per cent to hit an intraday high of Rs 349.60 per share on Wednesday.